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The Reserve Bank of India (RBI) has introduced new channels for card on file for tokenisation. Now it will be issued at bank-level to enhance convenience to create tokens created and linked to their existing accounts with various e-commerce applications. According to the RBI Governer’s Statement on Developmental and Regulatory Policies, “RBI introduced Card-on-File Tokenisation…

The misconception that cashless transactions are less traceable by the Income Tax Department has arisen due to the increasing prevalence of such transactions. Nevertheless, this belief is incorrect. This is because banks and other financial institutions must notify the Income Tax department of transactions surpassing a specified threshold. This encompasses card payments, UPI transactions, as…

My mother, a homemaker, has been getting a monthly family pension of ₹50,000 ever since my father died a few years ago. When she was 50 years old, she received a lump sum corpus of ₹60 lakh from various sources after tax deduction. She invests ₹10,000 per month in the SBI Bluechip Fund. Now, she…

As the last date for fling income tax return (ITR) 31 July is nearing, many taxpayers are yet to file their IT returns. But for those who have already filed their ITR, the income tax department has started sending refunds back to the accounts of those who are eligible for refunds. If a taxpayer fails…

The number of deaths has increased to 5,31,849 with six deaths which includes three fatalities reconciled by Kerala, the data updated at 8 am stated. New Delhi: India has recorded 552 new coronavirus infections while the active cases have decreased to 6,591 from 7,104, according to the Union Health Ministry data updated on Wednesday.The number…

Gurugram-based finance professional Sanjana Mehra pays a low tax, but it can be reduced further. TaxSpanner estimates that Mehra can reduce her tax liability by more than Rs.40,000 if her company offers tax-free perks, if she opts for the NPS benefit, and buys health insurance for her senior citizen parents. Mehra should start by opting…

State Bank of India (SBI) has revised its locker rent charges which vary depending on location and size of the locker. It is also requesting its locker customers to contact their locker holding branch and execute the revised/supplementary locker agreement as applicable. The Reserve Bank of India has directed all banks to ensure that at…

WhatsApp is seemingly changing the User Interface (UI) design of the app and some people might fail to recognise it once the changes are made. While youngsters might not have an issue with this, people who are not good with apps or phones will likely take time to adjust to the redesigned UI of WhatsApp….