CBDT through Notification no F.No.279/Misc/M-63/2017-IT dated 31st May 2017 has extended the last date of submission of Form 61A for Statement of Financial Transaction (SFT) to 30th June 2017. SFT is required to be submitted for FY 2016-17 i.e AY 2017-18. In case of non compliance of rule 114E penalty of Rs 100 per day of… Read More »
What can you do to make sure bank does not deduct TDS on interest, if your total income is not taxable? (adsbygoogle = window.adsbygoogle || []).push({}); The simple thing you can do is:- Form 15G and Form 15H are forms you can submit to make sure TDS is not deducted on your income if you… Read More »
State Bank Of India , the largest bank of India and one of the top employers of the country recently conducted exams of SBI Clerk (JA/JAA) Preliminary Exams from 22nd May 2016 to 5th June 2016 for filling 15431 posts of Junior Associates (Customer Support & Sales) and Junior Agricultural Associates in Clerical Rank. The result for… Read More »
In order to further develop the government securities market and enhance liquidity, it has been decided to bring down the ceiling on SLR securities under the HTM category from 24 per cent of NDTL to 22 per cent (As per DBOD.No.BP.BC.42/21.04.2014-15 dated 7 October, 2014) in a graduated manner. Accordingly it is advised that: Banks… Read More »
Section 194K deals with tax deducted at source on any income which is payable to a resident in respect of units of Mutual Fund specified u/s 10(23D) or of the UTI. TDS shall be deducted @ 10% on payment or credit whichever is earlier. However no TDS will be deducted if the amount does not… Read More »
Section 193 deals with tax deducted on interest on securities. Any person making payment to the resident in respect of interest on securities as defined in clause 28B of Section 2 shall deduct TDS at the time of payment or credit to the books of accounts whichever is earlier. Tax shall be deducted @ 10%.… Read More »
Insertion of new section 194LB: After section 194LA of the Income-tax Act, the following section shall be inserted with effect from the 1st day of June 2011. Where any interest is payable by an infrastructure debt fund referred to in S. 10(47), to a non-resident which is not a company, or is not a foreign… Read More »
Banks may soon be asked to provide – set aside funds – for potential non-performing assets (NPAs) and weak assets, sources aware of the development said. Sources said that banks cold be asked to provide for potential weak assets which, although require standard asset provisioning as per IRAC norms, could burden banks’ Balance Sheets in… Read More »
RBI releases Deepak Mohanty Panel’s report on Financial Inclusion The Reserve Bank of India has placed the report of the Committee on Medium-term Path on Financial Inclusion (Chairman: Deepak Mohanty). Objective: The Committee was constituted with the objective of working out a medium-term (five year) measurable action plan for financial inclusion. About the Committee: The committee,… Read More »
Checking /Knowing Your PAN Card Status or PAN Card Details like PAN Number using name and date of birth is not a rocket science. Anyone can search their or other persons PAN card Number or Details using the Name & Date of Birth or by using the acknowledgement number which had been given to them when… Read More »