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Deposit

The government may consider allowing India Inc to deposit GST on cash basis to help them tide over the liquidity woes during the Covid-19 pandemic, a PwC report said.

It said while formalising its support strategy for the industry in the next phase, the government could also consider suspending GST payments for select sectors during the Covid-19 period.

In its report titled ‘Reimagining [email protected]’, PwC said cash liquidity support schemes that advance business continuity are the need of the hour. “The government has announced a timely budgetary support scheme in line with the relief packages of various developed nations. Despite these steps, much ground remains to be covered,” it said.

Issues and suggestions

The report said that some key issues which require immediate attention of the government before taxpayers get entangled in long-drawn litigation include eligibility of ITC on expired stock, intermediary services and taxability of discount schemes.

“The government

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By Anita Komuves

BUDAPEST, Sept 25 (Reuters)The Hungarian forint firmed for a second straight session on Friday, after the central bank raised interest rate on its one-week deposit facility.

The forint EURHUF= was up 0.32% at 362.640 against the euro. The currency came under pressure recently, hitting a five-month low earlier this week, as traders remained wary about the economic effects of a coronavirus resurgence.

Hungary’s central bank unexpectedly raised the interest rate on its one-week deposit facility by 15 basis points to 0.75% on Thursday at a tender, after keeping all of its main rates unchanged earlier this week.

The rate hike immediately lifted the forint, but analysts say that the effect could be temporary and the forint will likely stay above the 360 level.

“The strengthening is a short-term correction. In this negative global sentiment, I expect the forint to weaken back to levels of

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Recasts with Hungarian c.bank move

WARSAW, Sept 24 (Reuters)The Hungarian forint EURHUF= firmed on Thursday, after the central bank unexpectedly raised the interest rate on its one-week deposit facility NBHK by 15 basis points to 0.75%.

The forint had weakened in recent weeks due to the impact of a second coronavirus wave on economic recovery and rising inflation. But the rate move lifted it immediately from five-month-lows around 365 versus the euro to around 363.5.

Market players said, however, that trend may not last.

At 1029 GMT the forint was 0.42% stronger on the day at 363.78.

Other Central European currencies were softer, taking a hit from a global risk sell-off on fears that rising coronavirus cases are slowing economic recovery.

Europe has seen a surge, with Poland reporting a new record daily number of cases on Thursday. In the Czech Republic, the surge has been growing

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The Grand Palladium resort in Punta Cana was a swank respite in March for Leigh Anne Belcher and her daughter until they got a call to stop by the front desk about a billing question. 

Their travel agency, swamped with coronavirus cancellations, had abruptly closed its doors and disconnected its phone lines – and refused to pay the hotel for the room even though Belcher had already paid the agency in full for the trip.

On the spot, Belcher had to come up with thousands of dollars to pay the upscale hotel, which threatened to call authorities and also advised the front-gate attendants to make sure no one escaped without paying. When she and her daughter tried to head home to Lexington, Kentucky, they had to shell out more money; their flight had been canceled and the airline wouldn’t allow them to change it since it, too, was booked

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Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent and objective.

  • Capital One (Member FDIC) has CD terms from 6 months to 5 years, and it pays competitive rates.
  • You can find higher rates at some other online banks, but it depends which term length you select.
  • Capital One is one of the only banks that doesn’t have a minimum deposit to open a CD.
  • The bank has high-yield term CDs, but no unique options such as no-penalty CDs.
  • See Business Insider’s picks for the best CD rates »

Capital One pays high rates on CDs. You may be able to find a better APY at other online banks, but it depends on which term length you choose.

Capital One CD

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A sole proprietor is someone who owns an unincorporated business by himself. As a sole proprietor, you may do business under your own name or you may have a separate business name. Either way, you must track your business income separately from your personal income for tax purposes. You can deposit business checks into a personal bank account, but it often is preferential to have a separate business bank account. Some banks require you to have a business bank account and will not allow you to deposit business checks into your personal bank account.

Deposit into Personal Account

Endorse the check on the back with your business name. The name the check is made out to on the front should match your business name. You can use a stamp to endorse the check with your business name, or you can print or hand write the name.

Write your bank account

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