Sovereign Gold Bond Scheme 2020-21-Series III being opened for subscription from June 8
Sovereign Gold Bond Scheme 2020-21-Series III will be opened for subscription for the period from June 08, 2020 to June 12, 2020 as per RBI press release today. As per the notification, the issue price of Gold Bond will be ₹4,627/- (Rupees Four Thousand Six Hundred and Twenty Seven only) per gram of gold. The…
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Changes made in IT return forms from June 01, 2020
[The revised income tax return stipulates taxpayers to furnish details of time limit extended for tax saving investments/ donations made up to June 2020 separately.] The Central Board of Direct Taxes (CBDT) on May 30 notified revised Sahaj (ITR-1), Form ITR-2, Form ITR-3, Form Sugam (ITR-4), Form ITR-5, Form ITR-6, Form ITR-7 and Form ITR-V…
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Do you know the incomes that are exempted from income tax even in the new tax regime?
For FY 2020-21, Salaried individuals, who have no business income, will have to choose between the existing and new tax regimes every financial year, as per their convenience. The new income tax rates are lower compare to old tax rate. However, anyone opting for the new tax regime will have to forego most of the…
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Concept and essence of Bank Kiosks
What is a Kiosk? A Kiosk is basically a small cabin or cubicle structure comparable to a telephone booth. Traditionally, we find a Kiosk where small vendors sell newspapers, refreshments, cold drinks, etc. Over the years, the concept of Kiosk is significantly changed. The modern-day Kiosks are provided with the computer and display in aesthetically…
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Highlights of RBI’s important Statement on Developmental and Regulatory Policies
On Friday (May 22, 2020), in its statement on developmental and regulatory policy measures, RBI announced several measures to improve the functioning of markets and market participants; measures to support exports and imports; efforts to further ease financial stress caused by COVID-19 disruptions by providing relief on debt servicing and improving access to working capital;…
RBI slashes repo rate and announces a series of measures in its advanced MPC meeting
A cut in policy repo rate, an extension of the moratorium on loans by another three months, [taking the total period of applicability of the measures to six months (i.e. from March 1, 2020, to August 31, 2020)], relief for corporates by permitting lenders to convert the accumulated interest on working capital facilities over the…
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