New Delhi: In yet another relief to taxpayers, the Central Board of Direct Taxes (CBDT) has extended the validity of forms 15G and 15H by three months to June 30, 2020 and prevent banks from deducting TDS on interest income of individuals. As per an order issued by the CBDT late on Friday, if a […]
New Delhi: The Confederation of All India Traders (CAIT) has written to Union Finance Minister Nirmala Sitharaman to seek a relief package for traders, including waiver on loan interest for lockdown period. It stressed the need for a strong stimulus package for small businesses in the country in view of the packages announced for other […]
New Delhi: The aviation industry that is going through a tough phase amid the coronavirus crisis, is likely to register a net loss of $39 billion during April-June 2020, according to a report by the International Air Transport Association (IATA). The report further said that revenue of the airlines may fall by 68 per cent […]
New Delhi: The government on Tuesday steeply cut interest rates on various small savings schemes in line with sharp cut in policy rates announced by the Reserve Bank of India on Friday where it reduced repo rate by 75 basis points. Accordingly, rate on interest on small savings schemes such as the Kisan Vikas Patra, […]
New Delhi: The coronavirus pandemic and the ongoing lockdown is set to severely impair the Indian economy as the Moody’s Investor Service has further lowered its growth estimate for India to 2.5 per cent for the current fiscal. In its Global Market Outlook 2020-21 released on Thursday, Moody’s said that with a lower growth rate, […]
Mumbai: The Reserve Bank of India (RBI) on Friday massively reduced the key lending rates in response to the COVID-19 outbreak. Accordingly, the Monetary Policy Committee of the central bank in an unscheduled meet reduced the repo rate by 75 basis points to 4.40 per cent from 5.15 per cent. Consequently, the reverse repo rate […]
New Delhi: As the Indian economy eagerly awaits a financial package to prevent the COVID-19 pandemic from causing major harm, a new report said on Wednesday that the 21-day nationwide lockdown will result in a direct output loss of nearly 4.5 per cent, with further indirect effects. Finance Minister Nirmala Sitharaman has said that the […]
New Delhi: Etailer Flipkart on Wednesday said it has temporarily suspended its operations and services – including grocery items — as India enters a 21-day lockdown. Although ecommerce platforms were allowed to provide essential goods and services in Prime Minister Narendra Modi’s address to the nation, Flipkart decided to halt all orders from March 25 […]
New Delhi: The government may come up with an economic package to prevent the COVID-19 pandemic from causing major harm to the economy. Finance minister Nirmala Sitharaman said as a first step they were addressing the compliance related issues and an economic package covering issues of concern to the industry would be announced separately later. […]
New Delhi: The government has reduced charges for digital trade transaction and ATM cash withdrawals to promote digital financial transactions at the time of COVID-19 pandemic. As per the decision announced by Finance Minister Nirmala Sitharaman, debit card holders, who withdraw cash from any bank ATM, can do it free of charge for the next […]
