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".
Government will soon roll out Aadhaar Pay service that will enable people to make and receive payments using their Aadhaar number and biometrics.
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.
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.
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.
State-run Bank of Baroda on Wednesday launched EMI facility for its debit card holders to purchase electronics and consumer durables products.
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.
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.
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.
The scheme will provide an assured pension based on a guaranteed rate of return of 8% per annum for ten years.
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.
The All India Bank Employees' Association( AIBEA) has called upon Finance Minister Arun Jaitley to hike the ceiling on Income Tax for salaried persons to Rs 7.5 lakh with exclusion of fringe benefits like housing, medical and educational facilities.
An unnamed taxpayer owed the government Rs 21,870 crore (over $3 billion) for the assessment year 2014-15, which was 11 percent of they income tax to be paid by all Indians, according to 2016 data, the latest available, from the Income Tax Department.
The much-awaited Union Budget for 2017-18 is expected to bring in some major changes to the tax framework for individuals and corporates following the demonetisation measure, a rating agency said on Monday.
UIDAI is expected to make it compulsory, in next 4-5 months, for all biometric devices using Aadhaar authentication to embed Aadhaar encryption key into the device at the time of manufacturing.
With digital transactions gaining traction, the government is mulling setting up of a separate regulator for enabling electronic payment system in the country as well as regulate transaction charges.
After repeated rumours and statements on when and what the Committee of Allowances under Finance Secretary will roll out for central government employees, there is more news to fire the expectations of government employees.
The account books of Jamia Co-operative bank is being verified by the I-T department.
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 north from the existing 15 percent( inclusive of Krishi Cess and Swach Bharat Cess).