The government in order to fight the black money , has tried to plugged the black money conversion loopholes in law .One of the very old method is investment in bullion and jewellary in cash . Finance Bill 2012 has inserted provision effective from 01/07/2012 which require that to be collected at source by the [...]
Does your bank charge for issue of passbook? Does the bank stopped issuing passbook? Claim with your bank that RBI wants it to issue the passbook. Here is the latest circular CIRCULAR NO. DBOD NO. LEG. BC 48/09.07.005/2011-12, DATED 4-11-2011 Please refer to our circular DBOD. No. Leg.BC.32/09.07.005/2006-07, dated October 4, 2006on the captioned subject...
SBI Mutual Fund has launched a new scheme for those interested in investing in gold and raking in returns because of the continuous steep hike in gold prices. SBI Gold Fund is an open ended scheme to enable investors to systematically invest in gold. The fund offer will open on August 22 and close on [...]
Any law cannot be implemented without the provision of penalty for contravention of such law. In case of Service tax also , broadly 10 kinds of penalties are provided as listed below Section Default/Offence Consequences 73B Delay in payment of amount collected in excess. Simple interest at 10% to 24% p.a. to be prescribed. 73C [...]
Recent seizure of Rs 8.3 crore worth of diamonds from the IGI airport, New Delhi here by the income tax department , has compelled department to alert its air intelligence units at all airports in the country.It is noteworthy that department detected unaccounted wealth of Rs 33 crore after scanning of air couriers as concealed [...]