CA Online

  A day after the rupee hit an all-time low and breached the 77 per dollar mark, the Reserve Bank of India (RBI) on Tuesday intervened heavily across foreign exchange markets — spot, futures, and off-shore — which stopped the rupee from going past the 77.50 per dollar level, currency dealers said. The Indian currency opened at 77.29 per dollar after closing at 77.46 on Monday. State-run banks sold dollars heavily, on behalf of the central bank, at 77.42 levels, the dealers said. The rupee ended the day 77.33 per dollar, up 14 paise from the previous close, after touching the day’s low of 77.45. “The RBI protected the rupee, preventing it from hitting 77.50 levels. We have seen dollar selling in those levels,” said Amit Pabari, managing director, CR Forex.. In a Business Standard poll on Monday, most participants expected the rupee to breach the 78 per dollar mark by the end of this month, while some projected the rupee to breach 79 per dollar levels by the end of the quarter. “There wa

  As you are aware that finance is the most important driving force in our society and the country. Your bank balance determines your status in the society. Your living of standard shows your financial position and your acceptance in the society and your relatives. So finance is the most important aspects of a human life. Same concept is applicable in commercial line also or in business environment. A person having innovative, new, useful idea if do not have money or finance , then he is not able to show his ideas/thoughts /products to the people and hence there is no value of thoughts unless it comes by way of some work in the market.   Same way our new entrepreneurs , developers, IT professionals etc., have new thoughts , ideas, and inventions but they lack financial support. Here “ Angel Investors” enters , these are High Wealth Individuals ( HNIs) generally belong to rich families or officers of various multinational organisations ,who have resigned from their jobs and are in searc

  BDT amends Income Tax rule 114 related to Application for allotment of a permanent account number and inserts new Rule 114BA. Transactions for the purposes of clause (vii) of sub-section (1) of section 139A and Rule 114BB. Transactions for the purposes of sub-section (6A) of section 139A and prescribed person for the purposes of clause (ab) of Explanation to section 139A vide Notification No. 53/2022-Income Tax | Dated: 10th May, 2022.   MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi   Notification No. 53/2022-Income Tax | Dated: 10th May, 2022   G.S.R. 346(E) .––In exercise of the powers conferred by clause (vii) of sub-section (1), sub-section(6A) of section 139A, and clause (ab) of Explanation to the said section read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-   1. Short title and commencement. –– (1) These