Bank

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Susmit Nandi (Querist)
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18 September 2016 U think ......all govt. share of a nationalized bank is sold out then that bank will convert into private bank ..............?
And status of such bank employee will be non govt. Employee ?

Unnikrishnan B

Unnikrishnan B (Expert)
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19 September 2016 Even now bank employees are non government employees.
Pls note employees of public sector undertaking are non govt employees

Susmit Nandi

Susmit Nandi (Querist)
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19 September 2016 If govt. Hold share of a nationalised bank are sold out by govt. Then that bank will convert private bank .............?

Unnikrishnan B

Unnikrishnan B (Expert)
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19 September 2016 If the shareholding if the govt comes below 51% then it is not public sector undertaking.Gift shareholding has wide meaning it means shareholding of central govt,state govt,Public sector where the govt has more than 51% shareholding or combined holding of central and state govt

Susmit Nandi

Susmit Nandi (Querist)
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19 September 2016 Govt. Actually may sold out or not ?

Unnikrishnan B

Unnikrishnan B (Expert)
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19 September 2016 Madam Govt plans to merge the public sector banks .as per my knowledge they do not have plans for disinvestment
Not sold the shares as of now

Susmit Nandi

Susmit Nandi (Querist)
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20 September 2016 Whether interest on capital is deductible in assessment year 2016 - 17 in case of partnership business /individuals/Indian company ....??......if so..........
Then how many exemption limit available ..........??

Unnikrishnan B

Unnikrishnan B (Expert)
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20 September 2016 Interest on borrowed capital is deductible for all the cases.but in the case of partnership firm for the interest paid to partners only up to 12% is allowed to the firm .SI balance portion if interest (above 12%)is not taxable for partners
Interest for borrowed capital is allowed u/s 36(1)iii.

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