The Union Government has announced revised rates of interest on Small Savings Schemes for the First Quarter of 2017-18 to bring them somewhat closer to market rates Small Savings schemes will continue to be attractive as some of them enjoy income tax benefits and additional interest rate spreads Revision of rates is a reflection of […]
Shortage of Funds in DRDO
Shortage of Funds in DRDO In the financial year 2016-17 Budget Estimates (BE) of Defence Services Estimates and Ministry of Defence (Miscellaneous) was Rs. 2,58,589.32 crore, whereas for the financial year 2017-18 BE is Rs. 2,74,114.12 crore, which is around 6% more of the BE for the year 2016-17. The funds are allocated to meet […]
Shortage of Officers and Soldiers in Defence Forces
Shortage of Officers and Soldiers in Defence Forces The details of shortage of personnel in the three wings of the defence forces are as under: Army Navy Air Force Officers* (As on 1.7.2016) Other Ranks (As on 1.7.2016) Officers* (As on 30.9.2016) Sailors (As on 30.9.2016) Officers* (As on 1.8.2016) Airmen (As on 1.11.2016) […]
FDI in Defence Sector
FDI in Defence Sector Foreign Direct Investment (FDI) policy in defence sector was last reviewed vide Press Note No. 5(2016 Series) on 24th June, 2016. As per the extant FDI policy, foreign investment up to 49% is permitted under the automatic route, foreign investment beyond 49% and upto 100% is permitted through Government approval, wherever […]
CBDT notifies new Income Tax Return Forms for AY 2017-18: Introduces one page simplified ITR Form-1(Sahaj)
CBDT notifies new Income Tax Return Forms for AY 2017-18: Introduces one page simplified ITR Form-1(Sahaj) The Central Board of Direct Taxes has notified Income-tax Return Forms (ITR Forms) for the Assessment Year 2017-18. One of the major reforms made in the notified ITR Forms is the designing of a one page simplified ITR Form-1(Sahaj). […]