Pricing of credit by NBFC-MFIs- applicable average base rate for the quarter beginning July 01, 2015 It was communicated by Reserve Bank in its circular dated February 7, 2014 issued to NBFC-MFIs regarding pricing of credit, that the average of the base rates of the five largest commercial banks shall be advised by the Bank…
DetailsAfter reviewing the cash position of the Government of India, in consultation with the Reserve Bank of India (RBI), the Government of India has decided to notify the amounts for the issuance of Treasury Bills for the quarter ending September 2015 as under: Notified Amount for Auction of Treasury Bills (July 01, 2015 to September 30,…
DetailsOn a review and in order to facilitate the settlement of market transactions, as also, to aid the transactions of the general public, the Reserve Bank of India has decided that it will remain open for public transactions on July 1, 2015. Normally, the Reserve Bank remains closed for public transactions every July 1 on…
DetailsFollowing deductions are available to Individual and HUF under section 80C: 1. Life insurance premium for policy: a) in case of individual, on life of assessee, assessee’s spouse and any child of assesse b) in case of HUF, on life of any member of the HUF 2. Sum paid under a contract for a deferred…
DetailsCountry Dividend (not being covered under Section 115-O) Tax Treaty I-T Act (Note 3) Albania 10% 20%/10% Armenia 10% 20%/10% Australia 15% 20%/10% Austria 10% 20%/10% Bangladesh a) 10% (if at least 10% of the capital of the company paying the dividend is held by the recipient company); 20%/10% b) 15% in all other cases…
DetailsRBI/2014-15/650 DCM(Plg) No.G-15/5486/10.27.00/2014-15 June 26, 2015 The Chairman / Managing Director / Chief Executive Officer All Scheduled Commercial Banks Primary (Urban) Co-operative Banks/RRBs Dear Sir /Madam Withdrawal of all old series of Banknotes issued prior to 2005 Please refer to our circular DCM (Plg) No. G-19/3880/10.27.00/2013-14 dated March 03, 2014, DCM (Plg) No. G-8/3004/10.27.00/2014-15 dated…
Details7 July 2015 – Due date for deposit of Tax deducted/collected for the month of June, 2015 7 July 2015 – Due date for deposit of TDS for the period April 2015 to June 2015 when Assessing Officer has permitted quarterly deposit of TDS under Section 192,194A, 194D or 194H 15 July 2015 – Quarterly…
DetailsAssessment Year (AY), Financial Year (FY), and Previous Year (PY) are the terms which we have heard a lot specially during the day when Income Tax Return is to be filed. People from non-finance background find it difficult to understand these terms. But this post will be helpful for them. Before going directly to these…
DetailsResidential status of assessee other than an Individual & HUF In case of an assessee, other than an individual and HUF, the residential status depends upon the place from which its affairs are controlled and managed. These assessees can only be either resident or non-resident. There is no concept of ordinarily resident in case of…
DetailsCIRCULAR 9/2015 [F.NO.312/22/2015-OT], DATED 9-6-2015 In supersession of all earlier Instructions/Circulars/Guidelines issued by the Central Board of Direct Taxes (the Board) from time to time to deal with the applications for condonation of delay in filing returns claiming refund and returns claiming carry forward of loss and set-off thereof under section 119(2)(b) of the Income-tax…
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