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CBDT refutes social media rumours on ITR filing, says no change in income tax return forms

CBDT refutes social media rumours on ITR filing, says no change in income tax return forms

There were reports in social media that the taxpayers were facing difficulties in filing return of income in ITR-2 & ITR-3 due to large scale changes in the ITR form on July 11.

Jul 17, 2019, 10:38 AM IST
IRDAI issues new rules for ULIP and non-linked products

IRDAI issues new rules for ULIP and non-linked products

As per the new rules, the minimum death benefit in non-linked policy has been decreased from 10 times to 7 times.

Jul 15, 2019, 22:26 PM IST
Collective new premium of 24 life insurers jumps 94% to Rs 32,241 crore in June

Collective new premium of 24 life insurers jumps 94% to Rs 32,241 crore in June

The April-June, 2019-20 collective new premium income of 24 life insurers jumped 65.09 percent to Rs 60637.22 from Rs 36729.80 as compared to the same quarter last year.

Jul 15, 2019, 17:56 PM IST
State Bank of India waives off IMPS, NEFT, RTGS charges

State Bank of India waives off IMPS, NEFT, RTGS charges

Immediate Payment Service (IMPS) is an instant interbank electronic fund transfer service through mobile phones. It is also being extended through other channels such as ATM, Internet Banking, etc.

Jul 12, 2019, 15:24 PM IST
Shilpa Shetty gets tax relief from Mumbai Income Tax Appellate Tribunal

Shilpa Shetty gets tax relief from Mumbai Income Tax Appellate Tribunal

The actor had declared a taxable income of Rs 7.6 crore, however Tax authorities after assessment redetermined it at Rs 13 crore. The additional Rs 5.4 crore was added as ‘transfer pricing’

Jul 08, 2019, 13:00 PM IST
RBI asks banks, people to accept coins of all denominations

RBI asks banks, people to accept coins of all denominations

Presently, coins of 50 paise, Re 1, Rs 2, Rs 5 and Rs 10 denomination of various sizes, theme and design are in circulation.

Jun 28, 2019, 11:15 AM IST
Government considering hike in pension age limit under Atal Pension Yojana

Government considering hike in pension age limit under Atal Pension Yojana

Atal Pension Yojana is administered by PFRDA through NPS architecture and minimum age of joining APY is 18 years while maximum age is 40 years.

Jun 26, 2019, 14:01 PM IST
Number of e-filing of ITR increase 18.65% in AY 2018-19

Number of e-filing of ITR increase 18.65% in AY 2018-19

The number of e-Returns submitted for Assessment Year 2018-19 is 6,49,39,586 as against 5,47,30,304 e-Returns filed for the Assessment Year 2017-18.

Jun 25, 2019, 14:17 PM IST
Top private sector banks cut interest rates on deposits by up to 0.25%

Top private sector banks cut interest rates on deposits by up to 0.25%

Generally, an interest rate cut in deposits is seen as a precursor to a lending rate cut. The moves by lenders including ICICI Bank and Axis Bank come amid easing liquidity conditions and also within

Jun 18, 2019, 10:16 AM IST
Bandhan Bank cuts interest rate on micro loans by 70 bps

Bandhan Bank cuts interest rate on micro loans by 70 bps

The revised rate will be applicable to new disbursements from Tuesday, the bank said in a statement.

Jun 18, 2019, 10:13 AM IST
Farmers to contribute Rs 100 per month under PM-Kisan Pension for fixed monthly pension of Rs 3,000

Farmers to contribute Rs 100 per month under PM-Kisan Pension for fixed monthly pension of Rs 3,000

Under this scheme a minimum fixed pension of Rs 3000 per month will be provided to the eligible small and marginal farmers subject to certain exclusion causes on attaining the age of 60 years.

Jun 14, 2019, 11:02 AM IST
Government reduces rate of ESI contribution from 6.5% to 4%

Government reduces rate of ESI contribution from 6.5% to 4%

The reduction in rates will benefit 3.6 crore employees and 12.85 lakh employers, government said.

Jun 14, 2019, 10:45 AM IST
Non-life insurers' premium rises 16% rise to Rs 12,235 crore in May

Non-life insurers' premium rises 16% rise to Rs 12,235 crore in May

All the 34 non-life insurance firms had collected Rs 10,508.61 crore in May 2018.

Jun 14, 2019, 09:48 AM IST
Union Budget 2019: FM may announce big tax relief on home insurance

Union Budget 2019: FM may announce big tax relief on home insurance

Sources further said that relief may be given in income tax to home buyers who take housing insurance. Such rebate or concession may be given to those in the affordable housing sector.

Jun 13, 2019, 16:29 PM IST
Emerging Trends in General Insurance – India 2019

Emerging Trends in General Insurance – India 2019

2018 proved to be an interesting year for the insurance industry with various developments.

Jun 12, 2019, 16:48 PM IST
IDBI Bank cuts MCLR by 5-10 bps across various tenors

IDBI Bank cuts MCLR by 5-10 bps across various tenors

The lender has reduced its one-year MCLR or the minimum lending rate to 8.95 per cent.

Jun 12, 2019, 15:21 PM IST
RBI sets up committee to review ATM charges and fees

RBI sets up committee to review ATM charges and fees

RBI said that committee has been set up with the view to give a fillip to the ATM deployment in the unbanked areas.

Jun 12, 2019, 11:16 AM IST
Banks to waive all charges on fund transfer through RTGS, NEFT from July 1

Banks to waive all charges on fund transfer through RTGS, NEFT from July 1

The Reserve Bank levies minimum charges on banks for transactions routed through its RTGS meant for large-value instantaneous fund transfers and the NEFT System for other fund transfers. Banks, in

Jun 12, 2019, 10:47 AM IST
No transaction charges on NEFT, RTGS – Know what is NEFT and RTGS

No transaction charges on NEFT, RTGS – Know what is NEFT and RTGS

NEFT is an electronic fund transfer system in which the transactions received up to a particular time are processed in batches. Contrary to this, in RTGS, the transactions are processed continuously

Jun 11, 2019, 11:45 AM IST
Bitcoin users may get jail term of 10 years as government plans law to ban cryptocurrency

Bitcoin users may get jail term of 10 years as government plans law to ban cryptocurrency

The "Banning of Cryptocurrency and Regulation of Official Digital Currency Bill 2019" draft has proposed jail term of 10 years for persons who "mine, generate, hold, sell, transfer, dispose, issue or

Jun 10, 2019, 16:03 PM IST