The income tax department has released the ITR- 2 offline form for filing income tax return (ITR) for FY 2022-23 (AY 2023-24). Last month, the CBDT notified the offline forms of ITR-1 and ITR- 4. Do note that the tax department is yet to enable the online ITR forms, as for now it has released…
This new UIDAI feature can be accessed via website or mAadhaar app. UIDAI or Unique Identification Authority of India has introduced a new feature wherein Indian residents can verify their email and mobile number linked to their Aadhaar. The ‘Verify Email/ Mobile’ feature is available on the mAadhaar app as well as UIDAI online portal….
New Delhi: Starting 1 July, a 20% tax collected at source (TCS) will be levied on overseas credit card expenses of Indians, barring such expenditure on education or medical treatment-related visits, which will be subject to a lower rate, the finance ministry clarified on amendments to the foreign exchange management rules issued earlier this week….
New rule for international credit card users: Spending in foreign exchange through international credit cards will be covered under the RBI’s liberalised remittance scheme (LRS). On May 16, the Finance Ministry notified the amended rules under the Foreign Exchange Management Act (FEMA), which has brought credit card spending outside India under the LRS. Earlier, the usage…
The Central Board of Direct Taxes (CBDT) has issued a notification clarifying that TDS will be applicable to the interest earned on the Mahila Samman Savings Scheme. As per the new notification, tax will be deducted on the interest earned from the Mahila Samman Savings Scheme under Section 194A of the Income Tax Act, 1961….
The Reserve Bank of India has encouraged banks to publish a list of unclaimed deposits and inactive accounts that have been unclaimed, inactive, or for 10 years or more so that potential claimants can research the names online before visiting the bank. Currently, in order to find unclaimed bank deposits that have been lying dormant…
The scheme was launched with the aim of providing retirement benefits to all citizens of India What is NPS?The National Pension System (NPS) is a pension scheme introduced by the Pension Fund Regulatory and Development Authority (PFRDA) in India in 2004. The scheme was launched with the aim of providing retirement benefits to all citizens…
RBI’s new locker norms, if implemented effectively by banks, could increase transparency to the benefit of the customer Why is the Reserve Bank of India(RBI) asking customers to sign a new bank locker agreement? What changes will it bring? It started with a 2021 Supreme Court order that laid the basis for determining the responsibilities…
Many SBI customers have received a message claiming their accounts will be temporarily locked due to suspicious activity. This is a fake message being circulated by scammers. If you have also received such a message, don’t respond and report it to the bank. The Government’s official fact-checker, PIB Fact Check has warned SBI customers about…
Voter ID card photo can now be updated online in few simple steps. Here’s the guide. Voter ID or E-Epic (Electronic Electoral Photo Identity) is an important identity document issued by the Election Commission of India to citizens above 18, serving as an identification to cast vote in state or national elections. Unlike social media…