Daily Archive: July 1, 2017

A match made in heaven

Just like wine, whisky too can be paired with food for a wholesome culinary experience.

Bringing together flavours and aromas of food and beverage, when done correctly, is more than just the sum of its parts. Food and beverage pairing doesn’t only belong to the world of wine, it works fantastically well with spirits as well. In India, with our love for food and unwavering love for whisky, it would be wrong for us not to give them both a shot together.

Aadhaar PAN linking: Remove all confusions here; understand what Section 139AA of Income Tax Act says

There are lot number of queries over Aadhaar number-PAN card linking. What if one fails to do Aadhaar-PAN linking? What will happen after July 1? After the questions were raised after the government made it mandatory to link existing Aadhaar numbers with PAN of taxpayers with effect from July 1. Amending income tax rules and notifying the same, the government made quoting of the 12-digit biometric Aadhaar or the enrolment ID a must at the time of application of permanent account number (PAN). The revenue department said every person who has been allotted PAN as on July 1, 2017, and who in accordance with the provisions of sub-section (2) of section 139AA is required to intimate his Aadhaar number, shall intimate his Aadhaar number to the principal director general of income tax (systems) or DGIT (systems).

PPF, NSC rates slashed again; here’s how much return small savings schemes will give now

If you are a risk-averse investor and have been banking on small savings schemes for the purpose of saving and investment as well as building your retirement nest egg, then there is some bad news for you. For, the government has reduced the return on small savings schemes – including Public Provident Fund (PPF), NSC, Kisan Vikas Patra and Senior Citizen Savings Scheme – by 10 basis points. Following these reductions, the interest rate on PPF is now 7.8 per cent, 5-year Senior Citizen Savings Scheme 8.3 per cent, Kisan Vikas Patra 8.5 per cent and NSC 7.8 per cent.

7th Pay Commission: Know what amount of HRA allowance you will actually get based on your city

It was a big bonanza to 48 lakh central government employees when the Union Cabinet on June 28 approved recommendations of 7th Central Pay Commission. The increased allowances, which comes into effect from July 1, 2017, is based on the recommendations of the Committee on Allowances (CoA). Briefing the media after the Cabinet meeting, Finance Minister Arun Jaitley said the modifications are based on suggestions made by the CoA in its report submitted to the Finance Minister on April 27, and the Empowered Committee of Secretaries set up to screen the recommendations of the 7th Pay Commission.