2017-07-21 :Canara Bank reports net profit at Rs. 251 crore
Canara Bank has reported a significant growth in its net profit at Rs. 251 crore during the first quarter of FY18 as against Rs. 229 crore during the corresponding quarter of the previous fiscal year. As per the available data, the bank’s total income rose to Rs. 12,304 crore from Rs. 11,786 crore during the corresponding quarter of the previous fiscal year. Banks has managed to increase its profits on the back of strong growth in advances, better NPA management and reduction in proportion of high cost deposits.
2017-07-20 :Karnataka Bank to disburse Rs. 6,800 crore farm credit in FY18
Private sector lender, Karnataka Bank is likely to target disbursal of Rs. 6,800 crore of farm credit in FY18.Currently, the bank has managed to achieve its target of 18 per cent agriculture credit and is confident of maintaining the same level in future. The bank plans to provide comprehensive range of loans to farmers including harvesting and transportation loans, agri gold loans, crop loans and development loans.
2017-07-20 :CREDAI launches skill training for construction workers
Confederation of Real Estate Developers Associations of India (CREDAI) has announced the launch of skill training for nearly 2,500 construction workers in 20 new Tier-2 and Tier -3 cities across the country. The training by CREDAI will be conducted under the Pradhan Mantri Kaushal Vikas Yojna (PMKVY) scheme and PNB Housing Finance programme which has been launched as a corporate social responsibility (CSR) initiative.
2017-07-20 :IT department identifies 5.56 lakh individuals with tax discrepancy
IT department has identified 5.56 lakh individuals based on their tax profile which reflectsinconsistency in the amounts deposited by them during the demonetisation drive. Simultaneously, the individuals who did not disclose the information relating to their bank accounts were also identified via e-verification during the first phase of Operation Clean Money.
2017-07-20 : Government makes changes to income tax laws for FY18
In a bid to make income tax filing easier for the taxpayers, the government has introduced some changes to the Income Tax laws for FY18. Starting from July 2017, enrolment ID of Aadhaar application form has been made mandatory for filing Income Tax return. The department has also introduced one page ITR form for those individuals whose non-business income is up to Rs. 5 lakh. Similarly, individuals who are receiving income of up to Rs. 50 lakh from salary, one house property and bank deposits can use ITR 1, individuals and HUFs receiving income from selling real estate, stocks and gold can file ITR 2.
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