NCTC

You must be hearing about NCTC in news now a days. In my post I would be discussing what NCTC is and why chief ministers are opposing that.
NCTC stands for National Counter Terrorism Center. It would be located in IB (intelligence Bureau).
The Concept of NCTC is based on the need for integrating all the inputs pertaining to terrorism and analyzing them to understand the plans of terrorists , their precautions and find out the identities of terrorists to enable the security forces to prevent terrorist attacks and to respond to terrorist attacks as stated by Home Minister of India. According […] Read more

Rs 5,800 CRORE HIDDEN INCOME IN MSME SECTOR

MSME means Micro, Small and Medium Enterprises. The Income Tax Department of India has detected that MSME has hidden income of Rs 5,800 crores in Fiscal year 2010-11.
Generally Income tax department carries out a number of searches for high income sectors but this time income tax department has put its scanner towards sector which contributes about 45 % of manufacturing output of the country.

Income tax department has carried out 3911 raids and after that they came to know about the hidden income of Rs 5,800 crore in MSME sector.

So from now onwards every one will be under the scanner of […] Read more

REASONS FOR RUPEE BEING AMONG WEAKEST CURRENCIES

Indian Rupee is one of the weakest currencies in Asia and other emerging markets. In this post I will be discussing few reasons for this:

1. India imports more that exports: In March 2012, Indian exports fell an annual 5.7% and imports rose 24.3%. High imports mean more demand for foreign money and this puts pressure on Indian Rupee.

2. Less Foreign Investments: Foreign investments into Indian stocks have went to negative with $545 million outflow in April 2012 from a mere $7.2 million inflow. Foreign Direct investment fell to 2.2 % in February 2012 from 5.7% in May 2011.

3. Fall in […] Read more

INCOME TAX REFUND AT RECORD HIGH

Many of us don’t know the benefits of filing income tax return electronically. If return is filed electronically then one will get his refund within 3 months of filing the return.
This will also save time to go to income tax department as after filing return electronically one has to send the printed acknowledgement on the address mentioned.

As more of people are becoming aware of efiling, refunds given by income tax department of India hit record high in financial year 2011-12. Refunds given were approximately Rs 1lakh crores which is 32.4% more than financial year 2010-11.
This amount is expected to increase […] Read more