close
This ad will auto close in 10 seconds
Operation 'Clean Money': Crackdown begins; 18 lakh people to get IT notice if deposits don't match income Operation 'Clean Money': Crackdown begins; 18 lakh people to get IT notice if deposits don't match income

The Income Tax department has identified 18 lakh people who have made 'suspicious' cash deposits post demonetisation, including those having deposited over Rs 5 lakh, and will send emails and SMSes seeking explanation about their source of funds.

CBDT identifies 18 lakh people with suspicious deposits

The Income Tax department has identified 18 lakh people who have made 'suspicious' cash deposits post demonetisation, including those having deposited over Rs 5 lakh, and will send emails and SMSes seeking explanation about their source of funds.

I-T department all set to question 18 lakh dubious bank depositors starting tomorrow I-T department all set to question 18 lakh dubious bank depositors starting tomorrow

 Demonetisation of old notes of Rs 500, and Rs 1,000 has brought in around 18 lakh people under the scanner of the income tax department, who will begin receiving emails and SMSs from the Income Tax department starting Wednesday.

No limits on cash withdrawals through ATMs, current a/cs from tomorrow No limits on cash withdrawals through ATMs, current a/cs from tomorrow

In a big relief to people and small businesses, RBI has announced lifting of restrictions on daily withdrawal of money from ATMs and from current accounts but the weekly limit of Rs 24,000 on savings bank accounts will continue.

Payments banks can pose challenge to traditional banks due to lower cost: FM Jaitley Payments banks can pose challenge to traditional banks due to lower cost: FM Jaitley

Jaitley said that about 650 India Post Payments Bank branches will be opened by September this year and that will have a multiplier impact as far as banking in India is concerned.

Travel, eating out, mobile bills likely to get more expensive from April 1 Travel, eating out, mobile bills likely to get more expensive from April 1

Whatever good or bad news the Budget 2016-17 may roll out for common man, but what seems likely that service tax rate will move up from the existing 15 percent) inclusive of Krishi Cess and Swach Bharat Cess).

Rs 5,000 crore withdrawn from Jan Dhan accounts in a month post note ban Rs 5,000 crore withdrawn from Jan Dhan accounts in a month post note ban

Jan Dhan accounts have witnessed net withdrawal of Rs 5,582.83 crore since December 7, the day deposits in these accounts soared to all time high in the backdrop of demonetisation.

Tax dept leans on Big Data to mark out multiple PAN holders Tax dept leans on Big Data to mark out multiple PAN holders

To plug tax loopholes, the I-T department will use Big Data analytics to track down evaders by collecting information such as common address, mobile number and e-mail to establish relationship between their multiple PANs.

Movement towards digital transactions to continue: PM Modi Movement towards digital transactions to continue: PM Modi

Prime Minister Narendra Modi on Saturday said India would continue moving towards digital transactions to make the country a less cash society -- an initiative following the spiking of old 500 and 1,000 rupee notes.

GAAR to be effective from April 1, 2017: CBDT GAAR to be effective from April 1, 2017: CBDT

Addressing investors' concerns ahead of GAAR implementation from April 1, the tax department today said it will not interplay with their right to choose a method of transaction and won't apply if routing of funds through a jurisdiction is "based on non-tax commercial considerations".

Govt to roll out Aadhar Pay for cashless transactions Govt to roll out Aadhar Pay for cashless transactions

Government will soon roll out Aadhaar Pay service that will enable people to make and receive payments using their Aadhaar number and biometrics.

Get incentives from govt for going cashless soon; Budget 2017 may announce fund to incentivise digital payments Get incentives from govt for going cashless soon; Budget 2017 may announce fund to incentivise digital payments

In order to boost digital payments in the country, the government is mulling to set up a digital payments incentive fund which will fund measures to widen infrastructure to support digital payments.

Demonetisation affected repayment of auto loans: Fitch Ratings Demonetisation affected repayment of auto loans: Fitch Ratings

Fitch Ratings on Friday said repayment of Indian auto loans got affected by demonetisation and it would take a couple of months for collections to come back to normal levels.

Demonetisation: Weekly withdrawal limits from banks, ATMs likely to go away by Feb-end Demonetisation: Weekly withdrawal limits from banks, ATMs likely to go away by Feb-end

The RBI had recently raised the ATM withdrawal limit to Rs 10,000 a day but maintained the weekly cap at Rs 24,000 for saving account and Rs 1 lakh for current account holders.

Bank of Baroda launches debit card EMI facility for its customers Bank of Baroda launches debit card EMI facility for its customers

State-run Bank of Baroda on Wednesday launched EMI facility for its debit card holders to purchase electronics and consumer durables products.

Indiabulls Housing ties up with Paisabazaar for e-Home Loans Indiabulls Housing ties up with Paisabazaar for e-Home Loans

Indiabulls Housing Finance Ltd. (IBHFL) has entered into a strategic partnership with Paisabazaar.com, India`s leading online financial marketplace, to offer online home loans to consumers.

Where are the post-demonetisation fake notes? Even RBI doesn't know Where are the post-demonetisation fake notes? Even RBI doesn't know

The Reserve Bank of India has admitted it has no confirmed data of the number or value of fake currencies detected since the demonetisation of Rs 500 and Rs 1,000 notes, a RTI query has revealed.

Digital payments: Panel recommends abolition of MDR, tax on cash transaction above Rs 50,000 Digital payments: Panel recommends abolition of MDR, tax on cash transaction above Rs 50,000

To encourage digital transaction, the Chandrababu Naidu panel, in the report to PM Modi stated that bringing down cost of digital transactions was key to success of digital payments.

Cabinet approves  pension scheme for senior citizens with 8% return Cabinet approves pension scheme for senior citizens with 8% return

The scheme will provide an assured pension based on a guaranteed rate of return of 8% per annum for ten years.

SBI General Insurance launches long term 2-wheeler insurance SBI General Insurance launches long term 2-wheeler insurance

 SBI General Insurance Company today said it has launched its Long Term Two Wheeler Insurance Policy-package providing cover for up to three consecutive years.