Personal Finance News items for the week ending 28th December 2018

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MAS Team | 28 December 2018

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LOANS

Delinquency rates in small bank loans found to be low by a study by Transunion Cibil

Credit bureaus appear to be helping banks take cautious lending decisions where loans are not backed by collaterals. Although personal loans, which are offered without any security, rose more than a quarter in the three months to September, delinquencies are still the lowest at 0.5%, a study by credit bureau Transunion Cibil showed

CONSUMER ISSUES

Passenger Service Fee in Indian airports raised, making air travel a little more expensive

Flying is about to get more expensive in India as the government has decided to raise the Passenger Service Fee (PSF) to Rs170 from Rs135 to meet the rising cost of airport security, which is provided by the Central Industrial Security Force (CISF)

TAX

I-T department allows manual filing of Form 13 in special cases

The income tax department allowed manual filing of form by resident and NRI (non-resident Indian) taxpayers wanting to apply for deduction of taxes at a lower or nil rate on total income. The Income Tax Act, 1961, provides that if a taxpayer considers that his total income warrants deduction of income tax at lower/ nil rate, he may apply to the assessing officer (AO) requesting for lower withholding certificate

CONSUMER ISSUES

New guidelines for ecommerce companies make it difficult to offer discounts and cashbacks

The new guidelines for ecommerce companies that have received foreign investment will make it difficult for them to offer discounts and cashbacks to online shoppers, experts said, and will have ripple effects on their logistics and promotion services. Companies have been able to offer discounted products because of the way their own entities and business-to-business arms (B2B) have been structured

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