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Govt Proposes To Lower Cash Transaction Limit To Rs 2 Lakh
The government proposed to lower the cash transaction limit to Rs 2 lakh, from Rs 3 lakh announced in the Budget, as it introduced 40 amendments to the Finance Bill in an unprecedented move. Cash Dealings Above Rs 3 Lakh Banned From April 1 The proposed amendments to the Finance Bill include a provision to cap legal cash transactions at Rs 2 lakh.
Google ad boycott could aim ire at ad-serving software
Google`s money-making foundation is strong enough to endure a current boycott by advertisers, but the movement could rattle the practice of software programmed ad placement, analysts said on Thursday. I would think Google would be extremely lucky to emerge from all this with minimal financial impact, he said in a blog post. The movement spread to the United States this week, with AT&T and Verizon pulling ads from Google.
H1B visas do not intend to replace US workers: Trump's labour dept nominee
Asserting that replacement of American workers is not the intent of H 1B work visa, the Trump administration nominee for labour secretary has acknowledged the shortage of skilled workers in the US. Some Americans see that jobs are available, but these available jobs require skills that they do not have, he said on Thursday. Responding to questions from Senators, Acosta said that it's important to look at the issue that he highlighted about foreign workers taking American jobs.
Claim LTA, medical, meals to save tax
This is why sometimes salaried employees feel like they have to shoulder a high amount of the direct tax distribution. To assist the salaried class and also to encourage consumption, various tax exemption schemes have come up. By spending through meal vouchers or claiming such expenses as tax benefits, you can add another Rs 4,500 in tax savings per year. It is important for salaried employees to be aware that they can claim a conveyance allowance of up to Rs 24,000 every year.
Australia, NZ dlrs at 1-wk lows as U.S. reflation trade falters
The Australian dollar slipped for a fourth straight session to $0.7610, a level not seen since March 15. A bit of air has come out of the Trump reflation trade this week, Capital Economics said in a note. Admittedly, we think that the fiscal stimulus may be delayed, rather than scuppered, if the health care bill is defeated. The euro stayed at a one-week top on the Aussie, while the pound was at a 1-1/2-month peak.
How a border tax could divide Boeing and its suppliers
US-based suppliers to Boeing would face a tax on their imports of these parts. Boeing was among about 90 companies, including many suppliers, that signed a letter this month from the Aerospace Industries Association urging Congress to overhaul the US tax system. Proponents say tax reform also would strengthen the dollar, offsetting the impact of the import tax for suppliers, and would encourage companies to invest in the United States.
CBDT forms committee to check absconding I-T dept officers
The CBDT has constituted a committee to identify those IRS and other junior-rank officers of the Income Tax department who are on unauthorised leave or are absconding, so that strict disciplinary action could be initiated against them. The three-member committee, the Central Board of Direct Taxes (CBDT) said in a order, will carry out a one-time count of all the officers working in the department and identify those Group 'A' officers who are presently on unauthorised leave or are absconding.
Beijing land authority bans sales of tiny residential spaces
Beijing's land authority said on Friday it has banned the registration of abnormally-shaped residential spaces, such as extremely small rooms, passageways or garages, effectively blocking the sale of such properties. Those spaces don't serve practical living functions, the Beijing Municipal Bureau of Land and Resources said in a post on its official Weibo account, China's equivalent of Twitter. Local media have reported cases of tiny residential spaces being sold in central Beijing at sky-high prices.
SE Asia Stocks-Lacklustre ahead of U.S. healthcare vote
Trump will get a second chance to try to close the deal with Republican lawmakers on dismantling Obamacare in a high-stakes vote on the healthcare bill later in the day. Singapore shares rose 0.2 percent, heading for their second consecutive session of gains, led by financial and energy stocks. The big three Singapore banks rose between 0.4 percent and 0.8 percent, while Keppel Corp Ltd gained 0.7 percent.
Day after Shiv Sena MP assaults Air India staffer, IndiGo says will support any move to bar unruly fliers
Budget carrier IndiGo on Friday said it will support any move which bars unruly passengers from flying, a day after Air India said it was mulling preparing a no-fly list for such people in the wake of a Shiv Sena MP assaulting its employee. We will support a no-fly list, IndiGo President and Whole Time Director Aditya Ghosh told PTI. Significantly, IndiGo, which is the largest domestic airline by market share, has reported a number of incidents involving unruly passengers on board its flight.
Time To Cut Exposure To Stock Markets As Valuations Get Stretched
If you observe the trend of the last few days, the domestic institutions have been selling in the cash markets, data released by the stock exchanges show. These are one of the shrewdest of investors and rightly so. A report recently reveals that two top mutual fund schemes have cut exposure to equities and have either raised cash limits or are investing in debt. This is all because they believe Indian stock valuations as having reached very high limits.
Amazon's 5-day summer sale starts; get bumper offers on AC, refrigerators
Online retailer Amazon has announced its summer sale giving bumper offers on a wide range of products. The 5-day summer sale from March 24 to March 28 also offers additional Rs 500 and Rs 1000 Amazon cashback on the purchase of products.
Hindustan Zinc announces special dividend of 1,375% per equity share
Hindustan Zinc Ltd Wednesday announced a special one-time interim dividend of 1,375% or Rs27.50 on an equity share of Rs2, which will cost the company Rs13,985 crore including dividend distribution tax. Hindustan Zinc called it the largest dividend outflow by any company in India in a single financial year. We are pleased to reward our shareholders with a special dividend, which reflects the company's confidence in its continued robust performance and demonstrates our commitment towards delivering value for our shareholders.
Sensex, Nifty up; banking stocks soar on Arun Jaitley's NPA remarks
Stock markets opened higher on Friday with the benchmark BSE Sensex advancing by over 100 points in early trade on continued buying by investors in banking and FMCG stocks. The 50-share Nifty of National Stock Exchange also regained 9,100 level by rising 32.80 points to 9,119.10 with 30 of index constituents making advances. Banking stocks trade higher after finance minister Arun Jaitley said that policy announcement will be made on tackling bad loans in a couple of days.
SpiceJet pips Jet Airways to become India's second-most valued aviation firm
Shares of low-fare airline SpiceJet Ltd beat Jet Airways India Ltd-India's second-largest airline by passengers carried-for the first time to become second-most valuable aviation company in the county. InterGlobe Aviation Ltd is India's most-valuable carrier with a market capitalization of Rs36,000 crore, stock exchange data showed. Shares of Jet Airways India Ltd rose 1.56% to Rs488.50 after which its market value stood at about Rs5549.23 crore.
Private Indian carriers may bar Gaikwad from flying
The Federation of Indian Airlines (FIA) - an umbrella organisation representing IndiGo, Jet Airways, SpiceJet and GoAir - is planning to bar the MP from flying in their planes. Ironically, Air India left FIA some years ago as the organisation often opposed government policies which the state-owned carrier's management could not do. The carrier is also planning its own no fly list on which Gaikwad is likely to find a place.
Lexus India Launch: Live Updates
Lexus will finally make its Indian debut today with the launch of the RX 450h SUV and the ES 300h sedan. After Lexus India's impending arrival was announced in February 2016, we caught the RX 450h and the RC F on camera here. The hybrid SUV was spotted out and about in India at least once more since then.
PSBs in focus; Nifty PSU Bank index up over 2%
Shares of public sector undertakings (PSU) were in focus with the Nifty PSU Bank index gaining more than 2% as media report suggested that the Finance Minister Arun Jaitley has promised to offer a solution to the growing non performing assets (NPA) crisis in next few days. State Bank of India (SBI), Canara Bank and Andhra Bank were up 1%-2% on the NSE.
Mexico seeking opportunities to tap debt markets
ACAPULCO, Mexico, March 23 (Reuters) - Mexico is closely looking for windows of opportunity to issue more debt and improve its loan portfolio, Finance Ministry Undersecretary Vanessa Rubio said in an interview on Thursday. Mexico last week announced a new $3.15 billion 10-year bond issue, its first transaction in the dollar bond market this year. We're monitoring market conditions to see if there are windows of opportunity to take advantage of to improve our position.
Rupee rebounds 5 paise in early trade
The rupee strengthened by 5 paise to 65.39 per dollar in early trade Thursday on some selling of the US currency by exporters and banks. Stock markets opening with gains also boosted the domestic currency, dealers said. The rupee had lost 14 paise to close at 65.44 per dollar on fresh dollar demand from importers. In global trade, the US dollar had strengthened against major world currencies with the dollar index inching up by 0.08 per cent against a basket of currencies yesterday.

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