Sensex, Nifty at new closing highs, rate cut hopes buoy sentiments
Mumbai, July 31 (IANS) Key Indian equity indices closed at new highs on Monday cheered by hopes of a rate cut in the upcoming monetary policy review of the Reserve Bank of India (RBI), coupled with expectations of healthy quarterly results. Investors’ sentiments were also buoyed by broadly positive global cues and intense buying activities […]
Deadline to file income tax returns extended to August 5
July 31, 2017 The last date for filing of income tax returns for the financial year 2016-17 has been extended to August 5. The last date for filing returns was today, July 31. The department has already received over 2 crore returns filed electronically. On reports of the e-filing website facing glitches, the official said […]
J&K violence dents economy, over 5% dip in credit growth in 9 Valley districts
THE UNREST in J&K over the last year severely dented economic activity and credit growth across nine districts in the Valley, which were affected the most by the turmoil, according to data available with Reserve Bank of India. RBI data show that credit growth across these districts, including Srinagar, fell below 5 per cent for […]
SBI slashes interest rate on savings accounts ahead of RBI’s monetary meet
July 31, 2017 State Bank of India slashes interest on savings account deposits by 50 basis points to 3.5 per cent on balance up to Rs 1 crore as compared to 4 per cent earlier. “The decline in the rate of inflation and high real interest rates are the primary considerations warranting a revision in […]
RBI may ease rates by 25 bps, while maintaining a neutral stance
July 28, 2017(Agencies) We expect the Reserve Bank of India (RBI) to cut the policy rate by 25 basis points (bps) on August 2, thereby pushing the repo rate down to 6 per cent. Since April, the Consumer Price Index (CPI) inflation has been surprising to the downside, and the June inflation print came at […]
HDFC Bank stock gains 2% post Q1 earnings
PTI July 24, 2017 New Delhi, Jul 24 (PTI) Shares of HDFC Bank today ended with nearly 2 per cent gain, adding Rs 8,031 crore to its market valuation, after the company reported 20.22 per cent increase in net profit for the quarter ended June 30. The stock gained 1.83 per cent to settle at Rs […]
Adopt GST and become part of history: Smriti Irani to business community
July 22, 2017 PTI Calling the Goods and Services Tax (GST) a “great step towards transparency,” Union minister Smriti Irani today urged the business community to become a part of this historic tax reform. “GST is not only a good and simple tax, but also a great step towards transformation. Let us make history and […]
Demand for zero GST on textiles cannot be accepted: Jaitley
New Delhi, July 18 (IANS) Union Finance Minister Arun Jaitley on Tuesday said the demand of textile traders to exempt fabrics under the Goods and Services Tax (GST) system cannot be met with as manufacturers will then not be able to claim credit of tax on previous stages. “The GST rate structure for the textile […]
Gold settles below Rs 29,000, silver holds up firm
By: PTI July 17, 2017 Gold prices on Monday got below the Rs 29,000-mark by sinking Rs 100 to Rs 28,950 per 10 grams, dragged down by slack demand from local jewellers, even as the metal made headway overseas. Silver advanced by Rs 180 to Rs 38,180 per kg, riding on increased offtake by industrial units and […]
No GST on second hand goods if sold cheaper
New Delhi, July 15 (IANS) The buying and selling of second hand goods will not attract Goods and Services Tax (GST) if sold at a price cheaper than the purchase price, the government said on Saturday. Rule 32(5) of the Central Goods and Services Tax (CGST) Rules, 2017, provides that where a taxable supply is […]
