« Top Headlines » Open DEMAT Account in 24 hrs  Income Tax Return Filing: 10 Mistakes To Avoid When Filing ITR For AY 2024-25  Old vs New Tax Regime: Who should move to the New Tax Regime from the old one?  Income Tax Calculator FY 2023-24: How To Know Your Tax Liability Online On IT Dept's Portal?  BackBack Income Tax Act amendment on cards on tax treatment of MSME dues  ITR-1, ITR-2, ITR-4 forms for FY 2023-24 available for e-filing. Check details here  Income tax slabs FY 2024-25: Experts share these 8 benefits for taxpayers in new income tax regime  How To File ITR Online - Step by Step Guide to Efile Income Tax Return, FY 2023-24 (AY 2024-25)  Old or new tax regime for TDS on salary? This post-election 2024 event will impact your tax planning  What Are 5 Heads Of Income Tax?  Income Tax Dept releases interim action plan for FY25 on tax collection, refund approvals   Income Tax Return: 5 lesser-known tax-saving tips from Section 80 «  Budget no boost, say CAs... Service tax on rent a concern... » KPMG to advise govt on revamp of postal dept March, 05th 2007 The Central government has appointed KPMG as consultants for revamping activities of the Department of Posts, a senior official said here today.    The government is awaiting a report from KPMG. However, one of the recommendations of KPMG is to set up Post Office Banks similar on the lines of Japan, which has been successful, the official said.    But the only hitch, the huge investment needed for starting a bank and a nod from the ministry of finance.    Postal banking has deposits of a whopping Rs 3 lakh crore and the Maharashtra circle has Rs 37,500 crore, the official said.    The amount is given to the Auditor General every month. And then the Central government lends to the state governments at 9 per cent interest for their monthly expenses, she said.    But with falling interest rates, the state governments tend to go for loans from banks than from the Central government, the official said.    The opening up of mutual funds and higher rate of returns from banks has started to affect the post office savings schemes, the official said.    People are withdrawing from our Kisan Vikas Patra and National Savings Certificate because they find the returns from mutual funds and banks attractive than ours, the official said.