Thursday , March 23 2017

Business News

Weekly cash withdrawal limit raised to Rs 50,000 from Feb 20; limits end by March 13

cash withdrawal limit

New Delhi: Reserve Bank of India (RBI) on Wednesday raised the weekly cash withdrawal limit to Rs 50,000 from Rs 24,000, which will be effective from February 20. RBI also announced that from March 13 there will be no cap on cash withdrawal from the savings account. “The limits on ...

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Income Tax Slabs: Here Are New Tax Rates Applicable From April 2017

income tax

Bringing some happiness to the individual tax payers, Finance Minister Arun Jaitley reduced the income tax rate to 5 percent for individuals having taxable income between Rs 2.5-Rs 5 lakh compared to 10 percent earlier. In the meantime, Mr Arun Jaitley increased the tax burden of people having taxable income ...

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100% penalty for cash transactions over ₹3 lakh: Hasmukh Adhia

cash transactions

Supposing you do a transaction of ₹4 lakh in cash, then the penalty would be ₹4 lakh. If you do a transaction of ₹50 lakh, penalty would be ₹50 lakh” Revenue Secretary Hasmukh Adhia says Delhi: In an attempt to check generation of black money, a steep penalty awaits those accepting ...

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Indian IT firms to meet Trump officials on visa reform concerns

H1B-Visas

Trump might issue an executive order cutting the H-1B program sent shares in IT firms plummeting this week. Mumbai: Indian IT sector frontrunners will meet together US lawmakers and representatives from US President Donald Trump’s government later this month to porch contrary to any major variations to visa regulations that ...

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ATM cash withdrawal limit eased further

withdrawal limit

Withdrawal limit on current, cash credit and overdraft accounts lifted with immediate effect Facing criticism from the Election Commission for not allowing contenders contesting the upcoming Assembly polls to withdraw cash up to their permitted limit, the Reserve Bank of India (RBI) on Monday removed cash withdrawal restrictions on current, ...

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Govt to roll out Aadhaar Pay for cashless transactions

Aadhaar Pay

As of now, 14 banks have come on board for Aadhaar Pay and the service will be launched soon New Delhi: The Centre will soon roll out Aadhaar Pay service that will allow people to make and receive payments using only their Aadhaar number and thumb impression, stated Electronics and ...

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