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Demonetisation: FM Jaitley dismisses slowdown concerns, says higher tax mop up indicates uptick in economic activity
Business & Finance   Tuesday, January 10, 2017 IST
 
Demonetisation: FM Jaitley dismisses slowdown concerns, says higher tax mop up indicates uptick in economic activity

Demonetisation: FM Jaitley dismisses slowdown concerns, says higher tax mop up indicates uptick in economic activity

New Delhi: Dismissing worries of log jam because of demonetisation, Finance Minister Arun Jaitley on Monday said that the circuitous and direct expense accumulations amongst April and December this year expanded by 25 percent and 12.01 percent individually contrasted with a similar period a year ago.

FM additionally said that the demonetised notes had no part to play in the duty accumulations for December as individuals were permitted to pay charges in the spiked money just in November.

Last November, Prime Minister Narendra Modi had rejected 500-and 1,000-rupee certified receipts as a component of a crackdown on duty

"The figures for direct duty accumulations up to December, 2016 demonstrate that net accumulations were at Rs. 5.53 lakh crore which is 12.01 percent more than the net accumulations for the relating time frame a year ago. The figures for circuitous expense accumulations (focal extract, benefit assessment and traditions) up to December 2016 demonstrate that net income accumulations were at Rs 6.30 lakh crore, which is 25 percent more than the net accumulations for the relating time frame a year ago," Jaitley said.

 

Key highlights of Jaitley's announcement:

Focal Excise expanded 31.6% in December 2016 when contrasted with December 2015.

In December 2016 contrasted with last December, the traditions has really declined, it is - 6.3%.

Contrasted with November 2016, the development of Indirect expense in December 2016 is 12.8%.

Coordinate charges for the initial 3 quarters has climbed, roundabout duties essentially climbed.

For most States VAT accumulations have expanded.



 
 
When you change job. PF account will be transferred automatically
Business & Finance   Tuesday, January 10, 2017 IST
 
When you change job. PF account will be transferred automatically

When you change job. PF account will be transferred automatically

New Delhi: If you intend to change your job next month, you won't need to stress on the Provident Fund viewpoint.

From September, the Provident Fund of your present association will be naturally exchanged to the following office that you join, according to a report in the Times of India.

TOI citing chief provident fund commissioner V P Joy stated, "Now we have made Aadhaar obligatory for enrollment. We don't need records to be shut. The PF account is the changeless record. The worker can hold a similar record for standardized savings".

The PF official is pushing a large group of activities in the Employees' Provident Fund Organization (EPFO) to make it more specialist amicable. In any case, one of the principal challenges that the Retirement finance body confronted was the untimely conclusion of records at whatever point there was a change of employment.

"We are endeavoring to guarantee the exchange of cash on the off chance that one changes employments, with no application, in three days. In future, on the off chance that one has an Aadhaar ID and has confirmed the ID, at that point the record will be exchanged with no application if the laborer goes anyplace in the nation. This framework will be set up soon," Joy told the TOI.

EPFO has made it required for all endorsers and in addition retired people to present their Aadhaar number. This will help to connect EPF account, annuity account, financial balance and Aadhaar number which would, in the end, encourage giving a large group of online offices to endorsers like online withdrawal and obsession of benefits.



 
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