Association of Mutual Funds in India (AMFI) has restarted online registration for obtaining fresh Amfi registration number and employee unique identification number (EUIN) for mutual fund distributors and their employees, using OTP-based Aadhaar authentication. The reintroduction of the facility has come amid the current lockdown situation in many parts of India in the wake of […]Continue Reading..
PPF: If you want to become a millionaire (Crorepati Kaise bane?) With small savings, then you can invest in Public Provident Fund i.e. PPF. You can become a millionaire by depositing a small amount every month in PPF. For this, you should start investing from today so that after retirement you will not have to be tempted […]Continue Reading..
The Income Tax Department has announced that it has issued refunds of over ₹12,038 crore to more than 10.83 lakh taxpayers between 1st April 2021 to 26th April 2021. The Central Board of Direct Taxes (CBDT) made an announcement in this regard. After this announcement, a taxpayer still waiting for its Income Tax Return (ITR) refund […]Continue Reading..
Transaction via e-wallets and UPI transactions have increased manifold especially during the last couple of months. In the current times when there are restrictions in respect of withdrawal from same bank ATM, cash transaction limit, withdrawal charges etc, people prefer to go cashless and use digital wallet or UPI transfers. There are some implications of […]Continue Reading..
For an individual or HUF, if the monthly rent is 50,000 or more, then the renter will have to deduct 5 per cent of the total monthly rent under Section 194 IB With an aim to negate chance of tax evasion, the Income Tax Department incepted Tax Deduction at Source (TDS) on transaction in certain cases, which includes […]Continue Reading..
PNB @Ease outlets will be loaded with five Kiosks i.e. ATM, Bunch Note Acceptor, Account Opening Kiosk, Card Issuance Kiosk and internet-enabled Kiosk. Punjab National Bank (PNB) has launched a digitial initiative PNB@Ease under which every transaction undertaken by a bank branch will be initiated and authorised by customers themselves. The service can range from […]Continue Reading..
According to the Reserve Bank of India (RBI) bank holiday calendar, banks in most of the states will remain closed on May 14, 2021, on account of Eid-UI-Fitra Banks across India will remain shut for up to 12 days in several cities in May 2021. These holidays include weekends and festivals. According to the RBI guideline, […]Continue Reading..
Subject to the limits prescribed for various investments and payments, the respective financial institution is required to report the transactions to income tax authorities in a prescribed format. The said information is accordingly reflected under Part E of your Form 26AS. In the case of mutual fund investments, fund houses are required to report […]Continue Reading..
The government on Saturday extended the deadline for making payment under the direct tax dispute resolution scheme Vivad Se Vishwas by two months till June 30 due to a severe COVID pandemic. Also, it has extended the due date for issuance of notice for reopening of assessment by tax officers where income has escaped […]Continue Reading..
State Bank of India (SBI) is offering instant life cover of up to Rs 40lakh to its customers. Under SBI Life – Sampoorn Surakasha, the State Bank of India’s customers can avail the life cover through SBI YONO app in no time. SBI says one can apply for this life cover in a few steps. […]Continue Reading..