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Income Tax Exemption: LTA Benefits


Holidays are never planned solely to take advantage of the tax benefits on offer, but a clear understanding of leave travel allowance (LTA) rules can help you lower your expense burden. For many, the Christmas-New Year season not only provides an opportunity to soak in the festive cheer, but also to exhaust the balance leaves that would otherwise lapse. It ... Read More »

ATM Withdrawal Limit Raised To Rs. 4,500 Daily Starting Jan 1


NEW DELHI: The deadline to submit old 500- and 1,000-rupee notes, declared abolished on November 8, ended on Friday. Starting January 1, you can pull out Rs. 4,500 per day per card- the limit currently is Rs. 2,500. However, the weekly limit per bank account remains unchanged at Rs. 24,000 as the government tries to replace the outlawed currency with ... Read More »

Cut in VAT makes cell phones cheaper in Telangana


Hyderabad: Good news for phone users. The prices of cell phones are set to come down in Telangana, as the VAT on them has been reduced from 14.5 per cent to 5 per cent. The State Legislative Assembly on Wednesday adopted the Value Added Tax (VAT) Amendment Bill, seeking to reduce VAT on cell phones. The bill was introduced by ... Read More »

Finance Minister Arun Jaitley Clarifies On Capital Gains Tax After PM Modi’s Speech


New Delhi: Finance Minister Arun Jaitley on Sunday clarified that there is no intention of the government to impose tax on long-term capital gains from share transactions. Referring to the speech by Prime Minister Narendra Modi in Mumbai the previous day, the finance minister said the interpretation being given to the speech was not correct. “The speech has been misinterpreted ... Read More »

Will take tough decisions, dishonest to face ruin after Dec 30, says PM Modi week before deadline


Prime Minister Narendra Modi on Saturday said the government would not shy away from taking difficult decisions such as demonetisation even if it brought short-term pain. He asked the “dishonest” to fear the wrath of the people, and warned that the time for their “ruin” was on its way. “Ab jo samay aa rahaa hai woh beimaanon ki barbaadi ka ... Read More »

Ratan Tata Says ‘Definite Move’ To Damage His Reputation


Mumbai: Breaking his silence over the feud with ousted Tata Sons chairman Cyrus Mistry, Ratan Tata on Friday said there has been a “definite move” to damage his personal reputation in the last two months but truth will eventually prevail howsoever painful the process may be. Mr Tata, who came back as interim chairman of Tata Sons – the holding ... Read More »

Deutsche Bank Reaches $7.2 Billion Settlement With US Justice Department On Mortgages Case


Deutsche Bank said it would pay $7.2 billion to the US Department of Justice, related to its issuance and underwriting of residential mortgage-backed securities (RMBS) and other activities during 2005 to 2007. The agreement is less than the $14 billion the United States asked Deutsche Bank to pay in September to settle the claims. That negotiating figure caused Deutsche Bank’s ... Read More »