Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: articles on VAT and GST in India :: TDS :: empanelment :: VAT RATES :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: due date for vat payment :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
News Headlines »
 Income tax dept notifies amendments for sharing taxpayer information
 Seven things you must do before 31st March
 Income Tax saving investments: Top 5 options available for high-income individuals
 How to use zero tax rule on long term capital gains on stocks
 GST Returns - Furnishing details of inward supplies
 5 ways to maximise you income tax return
 Income-tax (2nd Amendment) Rules, 2017
 Soon, Faster PAN, An App For Filing Tax Returns
 Changes in income tax return filing process
 New Income Tax Rates And Deductions Applicable From April 1, 2017
 Tax and transparencya

Indian cash rates nudge higher; tax outflows hurt
March, 18th 2009

Indian cash rates inched up on Wednesday as advance tax outflows added to pressure on banks who were already scrambling to meet reserve requirements in the first week of the reporting cycle.

At 12:15 p.m., the overnight call money rate was at 4.50/60 percent, above its previous close of 4.20/30 percent.

"Rates are higher due to the advance tax outflows," said Anoop Verma, an associate vice president at Development Credit Bank.

Companies make quarterly tax payments in anticipation of their full year profits and the fourth instalment was due this week.

Direct tax receipts between April 1, 2008, and March 16 rose 18 percent from a year ago to 2.96 trillion rupees, including advance taxes paid by the corporates for the fiscal fourth quarter, a finance ministry official said on Tuesday.

"This is only a temporary thing, we should be back to 3.50 percent levels in another 10 days or so," a senior dealer at a foreign bank said. "Around March-end, there is generally a lot of government spending, which should also help."

The central bank did not lend or borrow any funds from the central bank at its morning money market operations, suggesting an equilibrium, in the banking system.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Custom Software Development Outsourcing Custom Software Development Offshore Cus

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions