2024 Budget news updates
Union Finance Minister Nirmala Sitharaman presented the Union Budget 2024 in Parliament today (July 23) at 11 am. The following announcements were made by the finance minister in presenting her historic 7th Budget with a focus on employment and skilling. PM package of five schemes of five schemes aimed at facilitating employment and skilling, with…
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How much cash and other items can be brought in while on return to India?
On return from a foreign trip, travellers must surrender unspent foreign exchange held in the form of currency notes and travellers cheques within 180 days of return. However, they are free to retain foreign exchange up to USD 2,000, in the form of foreign currency notes or Travelers Cheques (TCs) for future use or credit…
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Currency Carrying Rules for International Travellers from India
It’s also important to remember that the country you’re going to may have its own rules about how much cash you can bring in. Make sure to do your research depending on the country you’re headed to. Travellers going to any country are allowed to purchase foreign currency notes/coins only up to USD 3000 per…
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Hire-purchase: Meaning and evolution of hire-purchase in India
Under the hire-purchase system, goods are delivered to the buyer at the time of the purchase agreement with a condition that Payment will be made in installments but a buyer will become the owner of goods only on the payment of the last installment. In this system, the buyer pays the price of the goods…
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Legal Aspects of Hire Purchase and Parties to a Hire Purchase Contract explained
The Hire Purchase Act, of 1972 defines a hire purchase agreement as an agreement under which goods are let on hire and under which the hirer has an option to purchase them by the terms of the agreement and includes an agreement under which: (i) Possession of goods is delivered by the owner thereof to…
Market Share of Various Leased Asset Classes
Leasing in India is expected to become the preferred financial device for businesses seeking agility and cost-efficiency, promising significant growth with increasing awareness, new market players, and diversification of asset classes. The promising and growth-hungry small and medium Enterprises (SMEs) and startups, having a close eye on capital efficiency, are a confined user base for…
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