Business, Economy, 31st Jul 2017, News & Stories from India

Friday, Apr 26, 2024 | Last Update : 02:32 AM IST

Business Economy 31 Jul 2017

Business, Economy, 31 Jul 2017

RBI asks banks to enable account number portability

Banks should look forward to providing more choices to the new generation of customers.

31 Jul 2017 8:35 PM

The total number of APAs signed till date stands at 171.

CBDT signs 9 advance pricing pacts with taxpayers in July

Progress of the APA scheme strengthens the Govt's commitment to foster a non-adversarial tax regime.

31 Jul 2017 8:28 PM

CAIT said that despite some difficulties the new tax regime witnessed smooth adoption by the country's trading community. (Phtoto: Representational/PTI)

CAIT demands relook of items under 28 pc GST slab

A lot of confusion prevailed among traders over GST rates applicability of HSN Codes.

31 Jul 2017 8:01 PM

As of now, around 2 crore taxpayers have filed returns electronically.

Govt extends deadline for filing ITR, linking Aadhaar to PAN

While ITRs can now be filed by August 5, the Aadhaar-PAN linking can be done till August 31.

31 Jul 2017 6:31 PM

Growth rate of eight infrastructure sectors - coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity was 7 per cent in June last year.

Core sector growth falls to 0.4 per cent in June

Slow growth in key sectors would also have implications on the Index of Industrial Production.

31 Jul 2017 6:30 PM

Income Tax filing deadline has been extended to August 5.

ITR will not be processed if you fail to link Aadhaar with PAN

CBDT has allowed filing of I-T returns till Aug 5; taxpayer will have to link Aadhaar with PAN by Aug 31.

31 Jul 2017 5:52 PM

RBI officials have urged banks to provide account number portability to customers.

Account Number Portability: Switch banks without changing account number

This will come as a relief for unhappy customers stuck with bank accounts they do not want to keep.

31 Jul 2017 5:27 PM

The commerce ministry is negotiating as many as 21 trade agreements, said Commerce and Industry Minister Nirmala Sitharaman.

21 trade agreements being negotiated by Commerce ministry: Sitharaman

She said that before starting talks for such pacts, studies are carried out to look at the feasibility of such pacts.

31 Jul 2017 4:27 PM

GST Council is likely to consider this week lowering of tax rates for job works for making garments to 5 per cent from 18 per cent.

GST on garment making may be lowered to 5 per cent

Currently, services in relation to textile yarns and textile fabrics attract 5 per cent GST.

31 Jul 2017 3:38 PM

Growth recovery is expected to accelerate to 7.4 per cent led by a resumption of production after GST.

GDP growth in Jun qtr to be around 6.6 pc in India: Nomura

India lost the tag of fastest growing economy to China in March quarter with a GDP growth of 6.1 pc.

31 Jul 2017 3:30 PM

5 lakh businesses opt for composition scheme under GST: Adhia

Nearly 71 lakh excise, service tax and VAT assessees have migrated to the GST Network till July 25.

31 Jul 2017 2:45 PM

Train journey from Delhi to Chandigarh will take just 2 hours with Indian Railways' new semi-high speed project.

From chug chug to vroom vroom, Chandigarh to Delhi train travel in just 2 hours!

SNCF, the French railways, has been assigned the task of submitting execution strategy of this semi-high speed project.

31 Jul 2017 2:19 PM

CPI inflation has undershot official projections consistently for the past six- seven months.

DBS expects RBI to cut its policy rates by 0.25 pc

Real interest rates are also high about 400 basis points compared to RBI's preference for 1.25-1.75 pc.

31 Jul 2017 1:17 PM

Governement has made it compulsory to link Aadhaar with PAN.

Aadhaar-PAN linking enables e-verification of I-T returns in seconds

Presently, a taxpayer is required to take a printout of ITR-V and post it to Bengaluru office to get acknowledgment.

31 Jul 2017 12:55 PM

Tax department has also asked taxpayers to declare cash deposits in their returns form.

Govt extends I-T returns deadline; makes Aug 5 as new last date

Earlier, tax authorities had indicated that they will not extend deadline beyond July 31.

31 Jul 2017 12:37 PM

Over 200 market participants were confident of India's stable economic growth prospects.

India to grow 6.5-7.5 per cent over 12-18 months: Moody's

The view is in keeping with signs of economic recovery after short-term negative impact of demonetisation.

31 Jul 2017 12:15 PM

July 31 is the last date for filing income tax returns.

File your income tax returns by today itself as no more extension likely

The government refused to extend the July 31 deadline for filing income tax returns.

31 Jul 2017 12:01 PM

A sharp drop in food prices has made a strong case for a rate cut at the Monetary Policy Committee's August meet.

As food prices slump, pressure grows for more RBI rate cuts

Experts believe India is in the midst of a sustained easing of food prices as government has tamped them by keeping a lid on MSPs.

31 Jul 2017 9:37 AM

In its last meeting, the Monetary Policy Committee had refused to slash interest rate citing risk of increase in inflation.

Loans may get cheaper as RBI set to cut rates

The government has also been pushing for a rate cut to give a boost to economic activity and encourage private investment.

31 Jul 2017 6:51 AM

The scheme is an alternative method of levy of tax designed for small taxpayers whose turnover is up to Rs 75 lakh (Rs 50 lakh in case of eight north-eastern states and the hilly state of Himachal Pradesh).

GST Composition may be relooked: Official

Only 1 lakh businesses signed up for the scheme till date.

31 Jul 2017 3:39 AM

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Sunil Gatade