Financial transactions such as hotel bills, life, health insurance proposed to come under tax lens
In a tweet by mygov.in, which was subsequently removed, the govt has proposed to expand the list of reportable transactions to include domestic business class air travel or foreign travel, payment of property tax above Rs 20,000 per year, life insurance premium above Rs 50,000 and health insurance premium above Rs 20,000.
India’s first numberless card for teenagers: Here's all you need to know
The card helps remove the dependence on parents without impacting th...
AS-CFMS calls for extensive use of online transactions
The meeting held under the chairmanship of Chief Minister Sarbananda Sonowal took stoc...
60% fall in merchant point transactions in April: Survey
The Worldline survey found that in the first quarter, people used mobile apps for smaller transactions, and Net banking for high-ticket sales.
Here is how taxman tracks your financial transactions
The government recently amended the Form 26AS, which will show high-value transactions that are conducted by you in the financial year. Howe...
After CERT-In, now RBI warns consumers of phishing scams
"In recent days there are reports of users falling prey to fraudsters who are luring them on fictitious pretexts, such as alleged completion of KYC requirements, impersonating identities and websites of banks and payment system operators, etc,” the central bank said in a statement.
PNB collected Rs 268 cr as ATM transaction charges, annual maintenance fee in FY20
Punjab National Bank collected around Rs 268 crore as ATM transaction charges and annual maintenance fee on debit cards during 2019-20 fiscal, according to an RTI reply.
UPI transactions hit a new high of 149 crore in July with transaction value reaching Rs 2.91 lakh crore
During the April-July period of 2020-21, the cumulative transactions on UPI reached 631 crore. The value transacted stood at Rs 6.31 lakh crore.
India calls for equalisation levy on digital transactions
India has made a strong case for the imposition of equalisation levy on digital transactions, relying upon a ruling by the American Supreme Court to back it up in its submission to the US.
Here's how the income tax department tracks your financial transactions
The government recently amended the Form 26AS which will show high-value transactions that are conducted by you in the financial year. However, there are other ways in which the tax department can track your financial transactions. Given below are the list of those ways.
No transaction fee on commodity derivatives till September: NSE
NSE had earlier decided that no transaction charges will be levied on the transactions done in commodity derivatives segment of the exchange up to June 30,2020.
Edelweiss voluntarily withdraws from LIC pre-IPO transaction advisor selection
It had gone through the three-stage process and was among the five finalists, of which two would be selected. The other companies that are still in the race are Deloitte, Citigroup, Credit Suisse and SBICaps.
Scripbox offers biometric authentication in pact with MinkasuPay
MinkasuPay offers a two-factor-authentication (2FA) mobile payment solution that leverages the power of smartphones and biometrics to eliminate friction. 2FA, as mandated by the RBI, helps increase the security of all digital transactions.
MNCs fear equalisation levy on inter-group transactions
The government recently expanded the scope of the equalisation levy – imposed on cross-border digital transactions in 2016 in a bid to tax internet giants' digital advertising revenues from India --to include any purchase by an Indian or India-based entity through an overseas e-commerce platform, with effect from April 1.
You can soon make offline payments through cards and mobile
The Reserve Bank has been encouraging entities to develop offline payment solutions. It is, therefore, proposed to allow a pilot scheme for small value payments in off-line mode with built-in features for safeguarding the interest of users, liability protection.