FDI POLICY MAY BE TWISTED FOR IKEA

IKEA is a Swedish single brand retailer. Government of India may twist the foreign direct investment policy for IKEA. This retailer proposed to invest 10,500 crore in India.

IKEA has demanded some flexibility in the clause that makes it mandatory to source 30% of inputs from domestic SMEs(Small and Medium Enterprises). IKEA is the world’s largest furniture maker.

Government has increased the FDI cap in single brand retail from 51% to 100% subject to domestic sourcing clause. The Departments that frames policy of FDI i.e. Department of Industrial policy and promotion (DIPP), has clarified that they won’t be reviewing FDI policy on […] Read more

THINGS TO REMEMBER WHILE FILING TAX RETURNS

Now only few days are left for filing income tax return for financial year 2011-12. But you should remember few points while filing tax return. Here those points are discussed :

1. CHECK FORM 26AS: You should check your taxes paid on Income Tax website through form 26AS. This form contains details of income paid to you and taxes paid by you through TDS.

2. SELECT RIGHT FORM: This year government has amended and notified new forms. You should carefully select the form by analyzing your situation.
ITR 1(SAHAJ): Salaries, House Property (Where individual does not own more than one house property), Other […] Read more

RBI MEASURES FAIL TO CHEER , RUPEE HITS ALL TIME LOW

Today rupee slumped to lowest level Rs 57.92 after RBI announced measures but it manages to recover some ground and closed at Rs 57.01.

At Forex market, there was expectation that government measures will arrest rupee’s down slide, which has fallen over 26 percent in last one year.

Today Moody’s today retained country’s credit rating to STABLE in comparison to earlier NEGATIVE rating.

RBI announced a hike in FII ( Foreign institutional investors) limit in government bonds to USD 20 billion, while allowing up to USD 10 billion from overseas borrowings by India Inc for financing new projects and refinancing […] Read more

KNOWLEDGE ABOUT RIGHTS AND RESPONSIBILITIES OF POLICY HOLDERS

You must be paying some 10000-15000 or more as your insurance premium every year and imagine when you need that policy amount the company reject your claim. This is what most of the companies are doing because most of us don’t even know our rights and responsibilities as policy holders.

In this article I am going to tell you some of your rights along with your responsibilities as policy holder.

1. DOCUMENTATION: While taking insurance policy you must read all the terms and conditions mentioned in it as it clarifies all the points of friction. Also at the time of filing […] Read more

REFUND OF EXCESS TAX BY IT DEPARTMENT

IT departments has asked its officials to refund excess tax to tax payers even if they are hit by limitation period of 4 years. CBDT ( Central Board of Direct Taxes) has issued circular to assessing officers regarding issuing excess amount after due verification, so adjusted by CPC (Central Processing Centre at Bengaluru) due to inaccurate figures of arrear demand uploaded by assessing officer.
This circular will also help assessing officers in resolving disputes regarding arrear demands shown as outstanding against them in records and refund the excess tax collected.

Under the existing provisions of the Income Tax Act, the assessing […] Read more