Indian Business

PAN made compulsory for TDS eligible payments

Pan Card

Just received an email from my Chartered Accountant regarding the new section which makes PAN compulsory now.Please read on. Finance Act (2) of 2009 makes PAN compulsory in case of TDS eligible payments. Failing to that, Deductor has to make TDS at a higher rate!! This has been made by introducing a new section 206AA into the Income Tax Act ...

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Daily Interest for Savings Bank Accounts [ WEF April 2010 ]

RBI Notice

Yes you heard it right and Thanks to RBI who changed it all from this financial year bringing joy to the Savings Bank account. Bottom line the interest will be given to you based on your daily balance. Many of us do not know that Banks used to calculate interest based on the lowest balance of your month or specifically ...

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Dell factories coming to India : Please dont repeat the mistakes

Dell Factory

According to Hindustan Times and Economic Times there is a huge possibility that Dell might move their factories from China to India which is worth $25 billion. As qouted Michael Dell, the Founder of the $61-billion Dell, said, “The India operations are doing well. All businesses in India this quarter are growing more than 100 percent and the country offers ...

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Ready for March 31st ? Dont forget these

Pay your taxes

Just received an nice newsletter from my Insurance Broker about 10 things you should do before March 31st which is the last day of the financial year in India and people should pay off advance taxes, get the documents in one place, pay service and prof taxes and all those stuff.  Here are the points in summary rest you can ...

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Maharaja Express – A Luxurious Travel arrangement of Indian Railway

Luxury Travel in India

Indian Railway is going to provide a new comfort of traveling for national and International tourists soon after the announcement of Maharaja Express. So get prepared to spend around A Lac if want to travel with Royal comfort. On next Saturday i.e on 20/03/2010 Railway Minister Smt. Mamata Banerjee is going to flag out the first Maharaja Express from Kolkata ...

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RBI might suspend PayPal Services again

RBI PayPal

According to Jaimon Joseph, IBN Live, the problems with PayPal in India with RBI is not over yet. With all the drama that happened with PayPal users In India in February, PayPal need to answer detailed questionnaire which was sent to PayPal by Reserve Bank of India. Though the issues was temporarily resolved by introduction of Purpose Code last month ...

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Branchless Banking to all Villages by 2015

RBI has planned to reach to all the corners of India and give them the chance of branch-less banking. Even after 40 years of nationalization of banks over 50 per cent of the population is deprived of the banking services. The RBI deputy manager Mr KC Chakraborty today declared that by 2015 all the villages will be having access to ...

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Get Passport in three days in India

People who don’t have passport need not worry. Now standing on long queues or hopping around the brokers to get a passport will not be required. External Affairs Minister S.M. Krishna is deciding to set almost 77 high tech IT enabled Passport Sewa offices around the county. The first project will be launched at Bangalore. This sewa office will be ...

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Buying House is going to be more costly

Buying House is going to be more costly henceforth as Govt. has decided to impose Tax @ 10% on 33% of the Base price of the property. This will result into hike in total price by 3.3% than what it is currently. Govt. plans to include charges like development fee, Parking Fee and premium location charges on base price usually ...

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