Personal Finance News

Deadline for filing ITR FY 2018-19 nears: Here's what you need to do

Deadline for filing ITR FY 2018-19 nears: Here's what you need to do

This year, taxpayers are required to submit the returns for the 2018-19 financial year and the assessment year would be 2019-20.

Aug 27, 2019, 11:27 AM IST
EPF trust approves restoration of commuted value of pension to pensioners after 15 years

EPF trust approves restoration of commuted value of pension to pensioners after 15 years

This was a long pending demand of the pensioners and will benefit approximately 6.3 lakhs pensioners.

Aug 22, 2019, 16:15 PM IST
Direct Tax Code set to replace existing Income Tax Act of 1961, Task Force to submit report today

Direct Tax Code set to replace existing Income Tax Act of 1961, Task Force to submit report today

In order to review the Income-tax Act, 1961 and to draft a new direct tax law in consonance with the economic needs of the country, a Task Force was constituted by the Government in November, 2017.

Aug 19, 2019, 13:30 PM IST
Experts' hope high from direct tax code

Experts' hope high from direct tax code

The Modi government in its previous term had set up an Expert Committee in 2017 to draft a new Direct Tax Code (DTC) to replace the decades-old Income Tax Act, 1961.

Aug 19, 2019, 12:28 PM IST
CBDT issues 19 FAQs on  ITR forms for Assessment Year 2019-20

CBDT issues 19 FAQs on ITR forms for Assessment Year 2019-20

The Income-tax return (ITR) forms for the Assessment Year 2019-20 were notified on April 01.

Aug 09, 2019, 13:08 PM IST
CBDT enhances monetary limits for filing of appeals by Income Tax Department

CBDT enhances monetary limits for filing of appeals by Income Tax Department

CBDT said that there is a substantial pendency of appeals of the Income Tax Department before various appellate fora, adding that it is aware of the importance of litigation management and has been

Aug 09, 2019, 12:47 PM IST
State Bank of India cuts home loan interest rates across all tenors

State Bank of India cuts home loan interest rates across all tenors

SBI said that marginal cost of fund based lending rate (MCLR) will be reduced by 15 basis points across all tenors and the revised rates will be effective from August 10.

Aug 07, 2019, 14:46 PM IST
Google, Facebook, Twitter and other digital companies likely to come under Indian tax net

Google, Facebook, Twitter and other digital companies likely to come under Indian tax net

These digital companies purportedly pay very less tax to the Indian government despite earning high revenues and profits by offering online advertising to Indian customers.

Jul 31, 2019, 16:25 PM IST
SBI cuts deposit rates, keeps lending rates unchanged

SBI cuts deposit rates, keeps lending rates unchanged

SBI said that in accordance to the falling interest rate scenario and surplus liquidity, it will realign its interest rate on "Retail Term Deposits (less than Rs 2 crore) and Bulk Term Deposits (Rs 2

Jul 29, 2019, 14:58 PM IST
CBDT extends due date for filing Income Tax Returns to August 31

CBDT extends due date for filing Income Tax Returns to August 31

Taking to Twitter, the Income Tax Department said the due date for filing of ITR for the assessment year 2019-20 was July 31 for certain categories of taxpayers but upon consideration of the matter,

Jul 23, 2019, 19:50 PM IST
SBI YONO app down since morning, customers take to Twitter to lodge greviances

SBI YONO app down since morning, customers take to Twitter to lodge greviances

Using YONO App and website, SBI customers can integrate all their products and services from the Bank.

Jul 22, 2019, 15:35 PM IST
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