"MONEY MATTER CASE :CBI ARRESTED TOP OFFICIALS OF FIVE BANKS IN” plus 1 more

MONEY MATTER CASE :CBI ARRESTED TOP OFFICIALS OF FIVE BANKS IN

Posted: 24 Nov 2010 07:06 AM PST

The CBI on Wednesday addressed a press conference regarding arrests of eight officials of public sector banks and financial companies.Speaking to the press, CBI's EOW chief P Kandaswamy said the agency has busted a housing loan scandal racket and arrested CEO of LIC Housing, General Managers of Bank of India and Central Bank of India (New Delhi) and CGM of Punjab National Bank. Several other bank officials have also been arrested on bribery charges. The CBI said classified business information...

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Personal expenditure Allowance to transport system employee's exemption Increased

Posted: 24 Nov 2010 05:35 AM PST

As per Income tax Act secion 10(14) exemption limit of various allowances has been prescribed under rule 2BB of income tax rules .One of them is allownace to transport system employee to meet perssonal exenditure during his duty performace . Present rule is given as under Allownce description:Any allowance granted to an employee working in any transport system to meet his personal expenditure during his duty performed in the course of running of such transport from one place to another...

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