UPI transactions fall 6% in May

BENGALURU: Payments made through the Unified Payments Interface, an interbank fund transfer system, have fallen 6% month-on-month in May against April, the second consecutive decline in terms of number of transactions. As per the data shared by the National Payments Corporation of India (NPCI), UPI transactions reached 733 million in May, as against 781 million […]

Filing ITR-1 this year? You must know about these changes

If you are filing ITR-1 this year, then there are several procedural changes you must know about. Being aware of these changes will make it easier for you to file your income tax return. Here are the changes that you must know. Addition of new tab for section 80GGA This year in the online form […]

Govt probes I-T and GST mismatch in crackdown against evaders

NEW DELHI: Back in office, the Modi government is set to take up the next stage of action against tax evasion and money laundering with data analysis helping detect thousands of overstated goods and services tax (GST) claims that don’t match up with income tax returns. Action against these entities, which might be the first […]

CAIT asks for extension of purview of pension scheme for traders

NEW DELHI: Traders body CAIT Monday asked the government to extend the purview of the new scheme, which assures minimum monthly pension of Rs 3,000 to all shopkeepers, retailers and self employed persons after attaining the age of 60 years. Under the scheme, approved by the cabinet last month, all shopkeepers and self employed persons […]

India expects US govt to restore benefits under GSP

NEW DELHI: The US pulling the plug on duty concessions on $5.6 billion of Indian exports may not mean the end of benefits under the Generalized System of Preferences (GSP), officials said, citing instances when the benefits were reinstated. “This is not the end of GSP (benefits), possibly because the US has restored the benefits […]

Banks can use Aadhaar for KYC with customer’s consent: RBI

  The RBI specifies Know Your Customer (KYC) norms to be followed by banks and other entities regulated by it for various customer services, including opening of bank accounts. “Banks have been allowed to carry out Aadhaar authentication/ offline-verification of an individual who voluntarily uses his Aadhaar number for identification purpose,” the central bank said […]

Latest