Tag: lakh

Finance ministry mulling 3-5% tax in Budget on cash withdrawal of 10 lakh a year

Loknath Das

NEW DELHI: Withdrawing a cumulative ₹10 lakh a year can attract 3-5 per cent tax if a proposal going around in the Finance Ministry takes shape in the Budget to track high value cash deals and make digital payments mandatory. In its push towards a digital economy, the central government is thinking of introducing a tax of 3-5 per cent on cash withdrawal of ₹10 lakh in a year, a move to discourage cash usage in the economy and resultant black money. Paying ₹30,000-50,000 for ₹10 lakh annual withdrawal will be seen as a loss, the…

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Finance ministry mulling 3-5% tax in Budget on cash withdrawal of 10 lakh a year

Loknath Das

NEW DELHI: Withdrawing a cumulative ₹10 lakh a year can attract 3-5 per cent tax if a proposal going around in the Finance Ministry takes shape in the Budget to track high value cash deals and make digital payments mandatory. In its push towards a digital economy, the central government is thinking of introducing a tax of 3-5 per cent on cash withdrawal of ₹10 lakh in a year, a move to discourage cash usage in the economy and resultant black money. Paying ₹30,000-50,000 for ₹10 lakh annual withdrawal will be seen as a loss, the…

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IIM-Ahmedabad raises PG management program fee to Rs22 lakh

Loknath Das

IIM-Ahmedabad had last year raised the fee for the two-year programme to Rs21 lakh from Rs19.5 lakh. Photo: Mint Ahmedabad: The Indian Institute of Management Ahmedabad (IIM-A) on Saturday raised the fee of its flagship post-graduate program (PGP) in management for 2018-20 to Rs22 lakh from Rs21 lakh. The institute’s director Erol D’Souza gave the information while talking to reporters on the sidelines of its 53rd convocation here. The institute had last year raised the fee for the two-year programme to Rs21 lakh from Rs19.5 lakh. D’Souza said the IIM-A Board,…

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Indian Railways receives over 2 crore applications for one lakh openings

Loknath Das

The railways on Monday said it has received over two crore applications for about one lakh vacancies, with five days still remaining for the online registration to end. The online exam will be held for about 90,000 posts in group C and group D and for 9,500 openings in the Railway Protection Force. “Till date, over 2 crore candidates have applied for the posts and the number will rise further as five more days remain before the deadline comes to an end,” said a Railway Ministry official. For assistant loco…

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Indian parents spend Rs 12.25 lakh on children’s education, Hong Kong leads with Rs 85.67 lakh

Loknath Das

In a fiercely competitive job market today, education is highly prioritised by parents, with Hong Kong residents shelling out $132,161 (Rs 86 lakh) on their children’s school or university tuition fees, books, transport and accommodation – the highest in the world. Indians, meanwhile, are spending $18,909 ( Rs 12.25 lakh) while the world average spending on children from primary school to university undergraduate levels is about $44,221 (Rs 29 lakh), says an HSBC report: Higher and higher, The Value of Education series. About 89% Indians fund their children’s education, 79%…

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Mercedes-Benz launches the E220d in India at Rs 57.14 lakh

Loknath Das

Mercedes-Benz has just launched the E220d in India at Rs 57.14 lakh (ex-showroom Pune), and it joins the ranks of the current E-Class line-up (E200 and E350d). While the E220d gets an in-line 2.0-litre four-cylinder diesel mill that generates 194bhp and 400Nm of torque, transmission duties are to be fulfilled by a nine-speed automatic gearbox. With the E220d, Mercedes-Benz hopes to cater to those buyers who long to buy a diesel version of the new E-Class which offers best in class legroom thanks to its extended wheelbase The car will…

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LSR student Rhea Grover bags record Rs 29 lakh per annum job offer

subhadip

Zee Media Bureau New Delhi: Every college passout’s dream is to land a good job in a reputed company with a handsome salary. Rhea Grover of Delhi’s Lady Shri Ram College (LSR) hit the bull’s eye when she bagged a record placement offer with EY Parthenon. As per a report in the Hindustan Times, Rhea – a B.Com (Hons) student – has been offered an annual salary of Rs 29 lakh – compare this to last year when the highest package offered to any LSR graduate was Rs 18 lakh.…

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