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To avoid extra TDS, give tax-saving proofs If you don’t submit proof of tax-saving investments and expenses, your employer will deduct tax as per the applicable slab rate, without considering tax deductions Though a few months are still left for financial year 2017-18 (FY18) to end, your employer will soon ask or might have already reminded you to submit proof of tax-saving investments and expenses to claim various tax deductions. If you fail to submit the documents, your employer is liable to deduct tax as per the applicable slab rate, without considering tax deductions. And if that happens, you may end up paying extra tax in the form of tax deducted at source (TDS), from the salary of the remaining months of the FY. Here’s what you need to do to avoid paying more tax than you have to. Document submission There is no specific date mentioned in the income tax laws regarding submission of tax-saving investment documents to the employer. “As such there is no statutory time li

To avoid extra TDS, give tax-saving proofs If you don’t submit proof of tax-saving investments and expenses, your employer will deduct tax as per the applicable slab rate, without considering tax deductions Though a few months are still left for financial year 2017-18 (FY18) to end, your employer will soon ask or might have already reminded you to submit proof of tax-saving investments and expenses to claim various tax deductions. If you fail to submit the documents, your employer is liable to deduct tax as per the applicable slab rate, without considering tax deductions. And if that happens, you may end up paying extra tax in the form of tax deducted at source (TDS), from the salary of the remaining months of the FY. Here’s what you need to do to avoid paying more tax than you have to. Document submission There is no specific date mentioned in the income tax laws regarding submission of tax-saving investment documents to the employer. “As such there is no statutory time li

Banks set to crack down on defaulters in RBI’s second list A majority of companies on RBI’s second list of loan defaulters, including Monnet Power and Visa Steel, will be referred to NCLT for bankruptcy proceedings Banks are set to refer a majority of the 28 loan defaulters cited in the Reserve Bank of India’s (RBI’s) second list to bankruptcy courts starting Thursday, as the central bank prods lenders to speedily resolve bad loans clogging their balance sheets. After its first list of 12 large defaulters was sent to banks in June, RBI sent a second list of 28 troubled companies in late August, accounting for Rs 2 trillion of bad loans, asking lenders to find resolution plans for them by 13 December or start insolvency proceedings by December end. The assets of some of the 40 top defaulters are likely to be sold over the next few months as RBI and the government pushes lenders to speed up the resolution of Rs10 trillion of soured loans. This, along with the government’s Rs 2.

India´s economy to grow at 7.2% in ´18; 7.4% in 2019 India´s economy is projected to grow at 7.2 per cent in 2018 and 7.4 per cent in 2019, despite a slow down observed this year and the lingering effects from the note ban, the UN has said. The outlook for India remains largely positive, underpinned by robust private consumption and public investment as well as ongoing structural reforms, despite the slowdown observed in early 2017 and the lingering effects from the demonetisation policy, the United Nations said. The Business Standard, New Delhi, 13th December 2017

Bond yields likely to climb more India´s bond investors seem have gotten tired of the incessant supply of fixed income papers time when regulatory requirement them are reducing progressively.And, with inflation rising, chances of the Reserve Bank of India (RBI) cutting rates have almost nullified. As a result, bond yields have been rising and this should beacause for concern for everyone as the 10 year bond yield is considered the benchmark interest rate of the economy.Bond yields and prices move in opposite direction.The 10 year bond yield rose to as high as 7.22 per cent in the morning trade, but climbed back to close at 7.19 per cent, marginally higher than its previous close of 7.18 percent But if we expand the time frame, the bond yields have risen from 6.4 per cent level in August.That way, the rise in yields is quite dramatic even as the central bank cut its repo rate once in August.Oil prices have started climbing up and at near Rs 65 a barrel, it would put upward press

Big investors press major companies to step up climate action More than 200 institutional investors with Rs 26 trillion in assets under management said on Tuesday they would step up pressure on the world´s biggest corporate greenhouse gas emitters to combat climate change. Two years to the day since 195 governments adopted the Paris climate agreement, investors including Pacific Investment Management Co, Amundi, Legal &General Investment Management, Northern Trust and Aegon said they aimed to work with the 100 biggest polluting companies to curb emissions under a five year plan. That, they said, would be more effective than threatening to pull the plug on their investments in such companies, which include Coal India, Gazprom, Exxon Mobil and China Petroleum &Chemical Corp. "We will be asking companies to curb emissions and bring them down in line with the Paris goals," said Anne Simpson, investment director of sustainability at the California Public Employees´

Govt may allow pre-GST stocks to have revised MRP stickers till March The government is expected to allow use of stickers to display revised maximum retail price (MRP) on unsold pre-GST stocks for three months until March 31, a senior official said "The department of consumer affairs will most likely extend it, and will issue a directive next week," the government official told ET. The department had earlier extended the deadline from September 30 to December 31. Recent changes in GST rates again created a problem of goods carrying old prices printed on them. When the goods and service tax (GST) was implemented on July 1, the government had allowed marketers to display details of the revised MRP on pre-GST stocks b way of stamping, putting sticker, or online printing. Also, from April 1 onward, manufacturers will not have to display details of GST on packaged commodities. They will need to display only the revised MRP, the official said Manufacturers will still need