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Over 36 lakh bank a/cs saw cash deposit of Rs 10 lakh or more in a financial year

Over 36 lakh bank a/cs saw cash deposit of Rs 10 lakh or more in a financial year

Over 36 lakh bank accounts have seen cash deposits of Rs 10 lakh or more in a financial year, Parliament was informed on Tuesday.

After PAN card, bank accounts also need to be linked with Aadhaar card

After Government's decision to link PAN card with Aadhaar card, it has now made it mandatory to link the existing bank accounts with the Aadhaar card. Failure to do so before December 31, 2017 will make the account invalid.

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Now Aadhaar mandatory for opening bank A/c, financial transactions above Rs 50,000

Now Aadhaar mandatory for opening bank A/c, financial transactions above Rs 50,000

All existing account holders have also been asked to submit Aadhaar to banks by December 31, 2017, failing which accounts will become invalid.

Beware! A simple 'yes' on phone can allow scamsters to rob your bank accounts

Beware! A simple 'yes' on phone can allow scamsters to rob your bank accounts

The US police have warned of a phone scam reportedly raging in North America these days.  

Direct benefit transfer results in Rs 50,000 crore savings: Amit Shah

Direct benefit transfer results in Rs 50,000 crore savings: Amit Shah

The direct benefit transfer programme has resulted in Rs 50,000 crore savings for the government in the last three years as funds were directly transferred to 32 crore needy people, BJP President Amit Shah has said.

Loans, card payments above Rs 2 lakh in cash to be shown in ITR

Loans, card payments above Rs 2 lakh in cash to be shown in ITR

All cash payments of over Rs 2 lakh for paying loans and credit card bills during the 50-day period post demonetisation will have to be disclosed in the new one-page Income Tax return form.

I-T to go easy on up to Rs 5 lakh deposits by 70-plus people

I-T to go easy on up to Rs 5 lakh deposits by 70-plus people

The income tax department will be going easy for cash deposits up to Rs 5 lakh made by 70-plus people. This means no further verification will be required in such case.

Demonetisation: I-T dept to strictly take on depositors of unverified cash over Rs 5 lakh

Demonetisation: I-T dept to strictly take on depositors of unverified cash over Rs 5 lakh

Depositors of cash worth Rs 5 lakh or above, during the demonetisation period, who failed to verify the same will be taken on strictly by the Central Board of Direct Taxes (CBDT)

I-T dept to launch 2nd phase of bank accounts scrutiny next month

I-T dept to launch 2nd phase of bank accounts scrutiny next month

The I-T department is likely to launch the second phase of 'Operation Clean Money' next month to close in on unaccounted money making its way into banks but may ignore standalone deposits below Rs 5 lakh for now.

Demonetisation impact: Nine lakh accounts under Operation Clean Money 'doubtful'

Demonetisation impact: Nine lakh accounts under Operation Clean Money 'doubtful'

Nearly half of the 18 lakh people under the I-T scanner for suspicious bank deposits post cash ban have been put in the 'doubtful' category, but action against them will follow only after the new tax amnesty scheme ends on March 31.

 

Cash deposits above Rs 10 lakh in bank account to come under I-T lens

Cash deposits above Rs 10 lakh in bank account to come under I-T lens

The tax department has asked banks to report deposits in any account aggregating Rs 10 lakh in a year, as well as cash payments of Rs 1 lakh or more on credit card bills.

 

 

PAN card must for all bank account holders by February 28

PAN card must for all bank account holders by February 28

In yet another to fight against black money and tax evasion, the government has notified that all individuals having bank accounts will have to update their PAN or Form-60 if PAN not available by February 28, 2017.

Modi govt scans pre-demonetisation deposits history in banks, post offices for tracing black money trail

Modi govt scans pre-demonetisation deposits history in banks, post offices for tracing black money trail

If you have a saving account in a bank or post office, and if you are yet to share your Permanent Account Naumber( PAN) or submit Form 60 so far, you need to expedite and do the needful latest by February end for enabling government to analyse the deposit history of your account.

Demonetisation: 60 lakh depositors parked Rs 7 lakh crore in banks since November 8

Demonetisation: 60 lakh depositors parked Rs 7 lakh crore in banks since November 8

Since demonetisation decision was announced by the central government on November 8, 60 lakh depositors (individuals and companies) have parked Rs 7 lakh crore in banks.

DNA: Know why it is important to link KYC documents with bank accounts

How important it is to link KYC documents with bank accounts?. Watch the full segment of DNA for more details.

Govt exempts deposit in bank a/cs of political parties from income tax subject to conditions

Govt exempts deposit in bank a/cs of political parties from income tax subject to conditions

This move by the government comes even as it levies stiff penalties on unaccounted cash in banks following the demonetisation move.

Paytm claims 15 customers cheated it of Rs 6.15 lakh, CBI registers FIR

Paytm claims 15 customers cheated it of Rs 6.15 lakh, CBI registers FIR

Digital wallet company PayTM claims 48 customers cheated it to the tune of over Rs 6.15 lakh. 

Deposits into Jan Dhan A/Cs decline after government warning

Deposits into Jan Dhan A/Cs decline after government warning

Following the government's warning that action would be taken against those using their Jan Dhan accounts to convert black money into white, deposits into such accounts have reportedly decelerated.

 Withdrawals of deposits made in current legal tender allowed beyond current limits: RBI

Withdrawals of deposits made in current legal tender allowed beyond current limits: RBI

In the latest notification, Reserve Bank of India (RBI) has allowed withdrawals of deposits made in current legal tender notes on or after November 29, 2016 beyond the current limits. 

Govt to launch campaign to open workers' bank accounts today

Govt to launch campaign to open workers' bank accounts today

Labour Ministry will launch a campaign in association with Department of Financial services to open bank accounts of workers, who do not have one till date, in the organised as well as unorganised sector on Saturday.