Govt. amends rule, payments above Rs 25K to be credited directly in accounts of payees<br/>

The Finance Ministry has amended the rules to enable all the Ministries and Departments to facilitate payments by direct credit to the bank accounts of the payees. This will help bring transparency in payment system and elimination of corruption in the country. The order to this effect has also been...

Filing of tax return mandatory for individuals with income over Rs 10 lakh

The government has made it mandatory for individuals with income of over 10 lakh rupees to file their tax returns for 2011-12 electronically. The Income Tax Department said that e-filing has been made compulsory for the person who is an individual or a Hindu Undivided Family, if his or its total inc...

Filing of tax return mandatory for individuals with income over Rs 10 lakh

The government has made it mandatory for individuals with income of over 10 lakh rupees to file their tax returns for 2011-12 electronically. The Income Tax Department said that e-filing has been made compulsory for the person who is an individual or a Hindu Undivided Family, if his or its total inc...

Sensex sheds 44 pts in closing trade

The Sensex at the Bombay Stock Exchange dropped 44 points, or 0.3 percent, to 17,199, on mild selling by funds, amid weak regional markets, Wednesday . The Nifty at the National Stock Exchange fell 17 points, or 0.3 percent, to 5,227.Stock markets in Japan, Hong Kong, and Singapore declined between ...

ADB projects moderate increase in growth rate of 7 % in 2012-13

Sensex drops 78 points in noon trade

The Sensex at the Bombay Stock Exchange lost 151 points to 17,093, in early trade, this morning, on fresh selling by funds, amid falling global bourses. Later, the Sensex recovered some lost ground, to stand a more modest 78 points in the negative zone, at 17,166, in afternoon deals, a short while a...

Sensex falls 108 points in noon trade

The BSE benchmark index Sensex which fell by 150 points in early trade, recoverd partialy in noon trade and was trading down 108 points at 17, 135 a short while ago.In a similar fashion, the wide-based National Stock Exchange index Nifty dipped below 5,200 points to trade lower by 39 at 5,203.In Asi...

Rupee down by 23 paise against dollar

The rupee depreciated 23 paise to three month low of 51.70 rupees against dollar in the noon trade today due to sustained demand for the American currency from importers and weak equity markets. The domestic currency moved from 51.45 rupees to 51.70 rupees against the dollar during the morning deals...

Govt forms committee to review e -refund of service tax for export of goods

The government has set up a committee to review the scheme for electronic refund of service tax paid on taxable services used for export of goods. The committee has been asked to evolve a scientific approach for fixing of rates for the refund. It will submit its report to the Central Board of Excise...

Rupee down by 13 paise against dollar

The rupee depreciated by 13 paise to trade at a fresh three-month low of 51.60 rupee against dollar on the Interbank Foreign Exchange market in early trade, due to capital outflows and increased demand for the American currency from importers. The rupee had lost 33 paise to close at nearly a three- ...