Note Ban Impact on real estate

Little did I know I would soon be soon cured of my illness as soon as the Prime Minister drops the demonetisation word, when I informed my office I was unwell and not coming to office on November 8. However, when a sudden volley of questions and conjectures from my friends on social media platforms, especially [...]

By | December 24th, 2016|Property/Rent|Comments Off on Note Ban Impact on real estate

Budget 2017: Five reasons that make this Budget different from the earlier ones

The Union Budget 2017-18 will be presented on February 1. Having decided to advance the budget presentation by a month, the government took the line that it should not be presented in the middle of Assembly poll in Uttar Pradesh, Punjab, Uttarakhand, Goa and Manipur. So, it consulted the Election Commission, which has concurred with [...]

By | December 22nd, 2016|Revenue|Comments Off on Budget 2017: Five reasons that make this Budget different from the earlier ones

Demonetisation: Supreme Court refuses to extend exemption limit; 5 judge bench to explore constitutionality

Hearing petitions on demonetisation, the Supreme Court had, today, taken a strong stand and refused to extend the use of the scrapped currency notes in government utility centers like hospitals, railway tickets and others. The apex court had also transferred the demonetisation case to a five-judge constitution bench and had put a stay on the [...]

By | December 21st, 2016|Revenue|Comments Off on Demonetisation: Supreme Court refuses to extend exemption limit; 5 judge bench to explore constitutionality

Cash withdrawal limits to be eased after 80% remonetisation

New Delhi: The government is considering easing limits on cash withdrawals, starting with cooperative banks, once 80% of the new currency is introduced into the system, a top official said on Thursday. With 50% or Rs7.5 trillion worth of remonetisation complete, queues at banks have reduced substantially and are visibly longer only in poll bound [...]

By | December 19th, 2016|Revenue|Comments Off on Cash withdrawal limits to be eased after 80% remonetisation

NRIs have advantage in luxury market

NRIs have an advantage in luxury property market in India post-demonetisation as real estate developers in major cities of the country have ‘significantly’ dropped property rates, according to Singapore-based business analysts. “Given the recent demonetisation move, property rates have significantly dropped across various cities in India,” said Abhijit Ghosh, India Desk leader at PricewaterhouseCoopers (PwC) [...]

By | December 18th, 2016|Revenue|Comments Off on NRIs have advantage in luxury market

May pass order to extend use of old Rs 500 notes: Supreme Court

The Supreme Court heard the pleas filed on demonetisation and said that it might pass some orders regarding the plea that sought allowance of the use of the old demonetised Rs 500 notes for some more time. Earlier yesterday, the SC had heard pleas related to the transfer petition filed by the Centre on demonetisation [...]

By | December 17th, 2016|Revenue|Comments Off on May pass order to extend use of old Rs 500 notes: Supreme Court

Demonetisation: Income Tax rates to fall? Arun Jaitley drops big hint

Finance minister Arun Jaitley on Tuesday indicated that the government may reward the common man by lowering both direct and indirect tax rates in Budget FY18 as demonetisation is set to expand the tax net. While the central bank is remonetising by constantly releasing new banknotes, which would be "significant" in the next three weeks, [...]

By | December 14th, 2016|Revenue|Comments Off on Demonetisation: Income Tax rates to fall? Arun Jaitley drops big hint

Demonetisation: Rules for NRIs and expats

THE sudden demonetisation of high value currency notes has come as a surprise and shock not only to Indian citizens but also to foreigners in India. The exchange of cash for Indian citizens has been suspended by banks. However, up to December 15, the government has allowed the exchange of foreign currency held by foreign [...]

By | December 14th, 2016|Revenue|Comments Off on Demonetisation: Rules for NRIs and expats

What’s become of money — before and after the ‘demonetisation’?

First, the basics: What really is money, especially in the present context? Money, as the old cliché goes, is what money does. For our purpose, though, there are two parts to money. The first is as a ‘store of value’. Money, in its broadest definition (‘M3’ in economics terminology), consists of physical currency (notes and [...]

By | December 13th, 2016|Revenue|Comments Off on What’s become of money — before and after the ‘demonetisation’?

Demonetisation: Government to import 20,000 tonnes of currency paper

Here is some good news for people reeling under cash crunch since Prime Minister Narendra Modi took the much-debated decision to demonetise Rs 500 and Rs 1000 notes! A high-volumn limited tender is expected to be issued, possibly as early as next week, for the import of currency paper from a clutch of foreign firms [...]

By | December 13th, 2016|Revenue|Comments Off on Demonetisation: Government to import 20,000 tonnes of currency paper