ITR filing: Don’t make these mistakes to avoid getting tax notice

June 21, 2019

When Parbhod Anand sold his flat, he kept in mind tax implications of the transaction. The buyer was asked to deduct 1% TDS and deposit it under Anand’s and his wife’s names as they were the joint owners. Anand also reinvested the sale proceeds in another flat to save tax on capital gains.So, it came as a shock when his wife got a tax notice last month. “The notice says…

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All you need to know regarding India Post Payments Bank savings account

June 21, 2019

Mumbai: India Post Payments Bank (IPPB) an arm of India Post offers banking services, savings accounts and investment plans. India Post which is overseen by Ministry of Communications, Department of Posts, has over 1.5 lakh post offices covering the length and breadth of India. Payment Banks cannot accept deposits of more than Rs 1 lakh from one account holder and are not allowed to lend money, as per the guidelines….

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SBI offers unlimited free ATM withdrawals to these account holders. Details here

June 20, 2019

New Delhi: State Bank of India (SBI) offers a fixed number of ATM transactions free of cost every month to its customers. SBI account holders are charged for transactions at ATMs over and above these mandated number of free transactions. The bank currently allows unlimited free transactions at State Bank of India Group (SBG) ATMs to its customers who have maintained an average balance above Rs 25,000 in their savings bank…

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Tax defaulters can’t escape prosecution by just paying a stiff fine

June 20, 2019

MUMBAI: The government is tightening the prosecution noose around several categories of tax defaulters, such as those who stash black money offshore. These categories of taxpayers will not be able to compound their offences (which is a process of paying a stiff compounding fee, in lieu of prosecution). Revised guidelines, running into 30-plus pages, on ‘Compounding of offences under the direct tax laws’, were issued late on Friday night by…

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Railway officials asked to travel in all classes including general, take passengers feedback

June 20, 2019

NEW DELHI: Minister of State for Railways Suresh Angadi Tuesday asked officials to travel in all classes, including the general class coaches, and take passenger feedback with an aim to improve cleanliness, hygiene and other services. The direction came during a review meeting chaired by Railway Minister Piyush Goyal and attended by General Managers (GMs) of Zonal Railways/Production Units, Divisional Railway Managers (DRMs) through video-conference. During the meeting, Angadi asked…

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Amazon Flight Booking Offers June 2019: Up to Rs 2000 cashback

June 20, 2019

Amazon flight booking offers for June 2019 are more enticing than anything else, especially for the ones who love to travel. The discounts on domestic flights will enable frequent travelers to travel hassle-free at economical costs. It’s that time of the year when offers have been pouring tremendously. Amazon flight booking offers for June 2019 is one of them. Till now, if you were making your flight ticket bookings offline…

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Here’s how you can win up to Rs 3,300 using this Google app

June 19, 2019

NEW DELHI: Tech giant Google has introduced the all new Tez Shots mini game inside its payments app Google Pay in India. The company took to Twitter to announce the same. Google India tweeted, “The pitch is calling and you must go. Play #TezShots on the Google Pay app on your Android phone and score runs to win scratch cards. Expert Tip: Flex your fingers to give your best shot.”…

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IRCTC Alert: Big Concession On Railway Tickets, Avail The Facility

June 18, 2019

The Indian Railways is one such department which has always been concerned for its passengers, needless to say, under the ministry’s initiatives millions of travellers have benefited. The Railways extends passenger fare concessions in as many as 53 categories, which include senior citizens, passengers with disabilities, cancer, thalassemia, heart and kidney patients, war widows students and others. A glance at the Indian Railways’ Concession Rules.. As per sources, the Indian…

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NEFT, RTGS Fund Transfer To Become Free: This Is How You Will Benefit

June 18, 2019

After the recent statement by the RBI which now on will make NEFT and RTGS free with effect from July. Here is how you as an individual and economy at large will benefit from the move: But before that we will like to state that the NEFT and RTGS that are levied on customers are the charges levied by RBI for executing and processing transactions via NEFT and RTGS platform…

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Government likely to hike toll fee for private cars

June 17, 2019

NEW DELHI: The Indian government is planning to bring new national policy to reclassify vehicle type and revising the existing toll rate for national highways, as reported by the news daily. The toll system was last revised in 2008. According to the report, the toll rate for private cars may be increased in the reclassification of the vehicle type. At present, the private car owners on average pay Rs 30- Rs…

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Employees Provident Fund Nomination: Here’s How You Can Do It Online

June 13, 2019

EPFO or Employees’ Provident Fund Organisation allows subscribers to assign a nominee online. EPFO is the nodal agency to monitor EPF (Employees’ Provident Fund) contributions, which is a mandatory contribution from the salary of an individual. The nomination details can be submitted through the retirement fund body’s website, unifiedportal-mem.epfindia.gov.in. In the event of a subscriber’s death, only the nominated members can withdraw the EPF savings. Subscribers can also nominate more…

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Govt may have to extend ITR filing deadline for FY18-19; extends Form 16 issue date to July 10

June 13, 2019

The government may have to extend the due date for filing income tax return (ITR) this year. The normal due date or deadline for filing ITRs by individuals is July 31. This is because the Central Board of Direct Taxes (CBDT) has issued a notification dated June 4, 2019 extending the deadline for employers to file their TDS returns and also to issue Form 16 to employees to June 30th…

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