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Government removes 1% tax on cash payments of over Rs 2 lakh Government removes 1% tax on cash payments of over Rs 2 lakh

The government has done away with the 1 percent tax on cash payments of over Rs 2 lakh for purchase of any goods or service after it banned cash dealings above that limit from April 1.

Tata Capital launches mobile app to offer personal loans

Financial services company Tata Capital on Thursday launched a mobile app to extend its personal loans offering to young and mobile savvy audience.

Now, Aadhaar mandatory for filing I-T returns, applying PAN Now, Aadhaar mandatory for filing I-T returns, applying PAN

The government has proposed to make Aadhaar card mandatory for filing income tax return and also for applying for PAN from July 1, 2017.

Govt proposes cap of Rs 2 lakh on cash transactions as against Rs 3 lakh proposed in Budget Govt proposes cap of Rs 2 lakh on cash transactions as against Rs 3 lakh proposed in Budget

Continuing with government steps to clamp down on black money, Finance Minister Arun Jaitley on Tuesday proposed a cap of Rs 2 lakh on cash transactions, down from Rs 3 lakh as proposed in the Budget.

Paytm introduces insurance cover to safeguard wallet balance Paytm introduces insurance cover to safeguard wallet balance

Digital payment facilitator Paytm on Tuesday announced an insurance cover to protect the money stored in Paytm Wallets.

EPFO's interest pay dues over Rs 9,700 cr at March-end 2016 EPFO's interest pay dues over Rs 9,700 cr at March-end 2016

Retirement body EPFO had over Rs 9,700 crore to be paid as interest to subscribers by March 2016, the government said in Parliament on Monday.

GPF withdrawal rules eased: Now minimum time for sanction of fund is 15 days GPF withdrawal rules eased: Now minimum time for sanction of fund is 15 days

In a major relief for government employees, Ministry of Personnel, Public Grievances and Pensions has announced several relaxations in General Provident Fund Rules, with liberalization and simplification, particularly relating to advances and withdrawals by the subscriber/ employee. 

'No proposal to replace income tax with transaction tax' 'No proposal to replace income tax with transaction tax'

There is no proposal to replace income tax with the banking cash transaction tax, Parliament was informed on Friday.

No proposal to withdraw new Rs 2,000 notes: Arun Jaitley No proposal to withdraw new Rs 2,000 notes: Arun Jaitley

The Rs 2,000 banknotes were introduced along with new Rs 500 currency following the withdrawal of old Rs 500 and Rs 1,000 notes from November 9, 2016.

You can withdraw up to 90% of EPF fund to buy home: Key points You can withdraw up to 90% of EPF fund to buy home: Key points

Government will amend EPF scheme to enable around 4 crore members of retirement fund body EPFO to withdraw up to 90 percent of their fund for making down payments while buying homes.

Dearness allowance hiked by 2% for central govt employees, pensioners; effective from this January Dearness allowance hiked by 2% for central govt employees, pensioners; effective from this January

The Union Cabinet on Wednesday cleared a proposal to increase dearness allowance and dearness relief by 2 percent to 4 percent, which will potentially benefit over one crore central government employees and pensioners.

Govt to amend EPF scheme to enable members buy homes Govt to amend EPF scheme to enable members buy homes

Government will amend EPF scheme to enable around 4 crore members of retirement fund body EPFO to withdraw up to 90 percent of their fund for making down payments while buying homes, Parliament was informed on Wednesday.

Cabinet nod likely to double gratuity cap to Rs 20 lakh Cabinet nod likely to double gratuity cap to Rs 20 lakh

The proposed amendment is being brought to bring the maximum ceiling amount to Rs 20 lakh in line with the 7th Central Pay Commission's recommendations as accepted by the government.

Taxes under GST ''to increase a bit'', says CBEC Chairman Taxes under GST ''to increase a bit'', says CBEC Chairman

While the effective rate of indirect taxes under the new Goods and Services Tax (GST) regime still remains unclear, as fitment in tax slabs is under way, the Central Board of Excise and Customs (CBEC) has said that taxes were likely to "increase a bit" from the current level.

All cash withdrawal limits go back to pre-demonetisation era All cash withdrawal limits go back to pre-demonetisation era

All limits on savings bank cash withdrawals post-demonetisation ended on Monday, as had been announced by the Reserve Bank of India (RBI) last month.

I-T dept app to track refunds; plans issuing PAN in real time I-T dept app to track refunds; plans issuing PAN in real time

The I-T department has developed a mobile app for paying taxes and tracking refunds and is considering issuing PANs on real time basis using Aadhaar biometric.

Banks to remain closed for three days; complete urgent bank transactions today Banks to remain closed for three days; complete urgent bank transactions today

Banks will be closed for three consecutive days from March 11 to March 13.

Paytm withdraws 2% fee on wallet top-up via credit cards Paytm withdraws 2% fee on wallet top-up via credit cards

Paytm has withdrawn the 2 percent fee on adding money to mobile wallets using credit cards, a merely two days after introducing the levy.

Insurers may offer discounts to customers via e-commerce sale Insurers may offer discounts to customers via e-commerce sale

Insurance companies may offer discounts to customers if their policies are sold through e-commerce websites, Irdai said Thursday.

 

Let govt staff's pension funds to invest 50% in equities: PFRDA

The pensions fund regulator PFRDA wants government to more than treble investment levels in equity markets by government subscribers under the National Pension System (NPS) up to 50 percent from 15 percent now.