STI NEWS;"Individual taxpayers spared from declaring high value transactions"plus 1 more

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Individual taxpayers spared from declaring high value transactions Posted: 05 May 2011 10:32 AM PDT The CBDT has decided to spare the individual tax payers from declaring high- value transactions from now on. The newly notified income tax return forms for the Assessment Year 2011-12 – including Sahaj, Sugam, ITR 2, ITR 3 – do not carry the Annual Information Return (AIR) blocks. The Annual Information Return requires a person [...] Individual taxpayers spared from declaring high value... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

interest rate on savings bank accounts raised by 50 basis points Posted: 04 May 2011 06:59 PM PDT The Reserve Bank of India (RBI) has raised the interest rate on savings bank accounts by 50 basis points (bps), or half a per cent, from 3.5% to 4%, which will boost returns to savers hurt by rising inflation but squeeze profits of banks. With headline inflation now close to double digits, returns for all those who have parked money in savings accounts have been negative for quite a while... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

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