"No Alteration on Cheques rule by RBI not applicable on all Cheques” plus 1 more

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No Alteration on Cheques rule by RBI not applicable on all Cheques Posted: 26 Jun 2010 08:18 AM PDT THE Reserve Bank of India has clarified that its directive to banks, asking them not to honour cheques with alterations, will be applicable only for cheques cleared under the image-based cheque truncation system (CTS).At present, the cheque truncation project is being run only in the Delhi area with Chennai expected to move onstream soon. The clarification paves the way for bank branches in... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

SERVICE TAX ON AIR TICKETS FROM JULY 1,2010 Posted: 25 Jun 2010 09:50 AM PDT Domestic and international air fares would rise by Rs 100 and Rs 500 respectively from July 1,2010 with the government issuing a notification to bring air travel into the service tax ambit. Government had proposed in the 2010-11 Budget that 10 per cent service tax be charged on air travel aiming at raising Rs 600 crore and Rs 1,000 crore annually. It had proposed to expand the scope of air... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

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