RBI tightens norms for LRS by making quoting of Permanent Account Number (PAN) mandatory even for transactions below $25,000

On June 19, the Reserve Bank of India (RBI) has tightened norms for Liberalised Remittance Scheme (LRS) by making quoting of the Permanent Account Number (PAN) mandatory even for transactions below $25,000. Under the LRS, all resident individuals, including minors, ..

Recent Government Steps to Make Savings Process simpler for Small Savers

The government has taken steps to make the life easier for small savers and also ensure the motto of ‘minimum government, maximum governance’. Steps taken to ease the life of small savers are It proposed the Government Savings Promotion Act ..

Capital Gains versus Capital Receipts

Capital gain refers to the gain or profit from the sale of property or an investment. Investment may be in shares, equity, gold, real estate or valuables like paintings {a prelims question was asked if investment in paintings is a capital gains tax} ..

World Bank projects India’s growth rate at 7.3% for 2019 and 7.5% for 2020

The World Bank has projected India’s growth rate at 7.3% for 2019 and 7.5% for 2020. The bank also noted that Indian economy has recovered from the effects of demonetisation and the Goods and Services Tax (GST). The World Bank ..

Month: Current Affairs - April, 2018

Long Term Capital Gains

Capital gain refers to the gain or profit from the sale of property or an investment. Investment may be in shares, equity, gold, real estate or valuables like paintings. Capital Gains tax is of two kind viz. Short term and long term. ..

Hasmukh Adhia committee committee on exports constituted by Union Finance Ministry

The Union government has constituted a GST Committee on Exports headed by revenue secretary Dr Hasmukh Adhia to look into issues of export sector and to recommend suitable strategy for helping the export sector in the post-GST scenario to the ..