New Delhi, July 14: In view of Union finance minister Nirmala Sitharaman announcing during the Budget that PAN and Aadhaar cards will be made interchangeable, you may now have to shell out Rs 10,000 as fine if you fail to provide your Aadhaar unique identitification number accurately in documents related to high-value transactions. The penal provision is expected to be applicable from September 1 after amendments are made in the relevant laws. The Budget proposed that Section 272B of the IT Act (which deals with penalties on failure of complying to rules of Section 139A) be amended. Union finance minister Nirmala Sitharaman Finance minister Nirmala Sitharaman said in her fiscal 2019-20 budget speech that more than 1.2 billion Indians now possess the Aadhaar unique ID number. In compar...
If you are also planning to transfer your daughter’s account, know how you can transfer Sukanya Samriddhi Account from the post office to banks. The Sukanya Samriddhi Scheme was bought in by the government to benefit girl children. This plan became popular because of its various features and benefits. Parents or legal guardians on behalf of their girl children can invest in this scheme for up to two daughters aged below 10, in any post offices or authorized banks. You can now also open SSY for your adopted girl child. The maximum amount that can be deposited under this scheme is Rs 1,50,000 and the minimum is Rs 1,000 in a financial year, which can be made online. This scheme can also be closed prematurely if the girl on whose name the account is opened reaches 18 years. The account
SBI or State Bank of India recently changed names and Indian Financial System Code (IFSC) of nearly 1,300 of its branches. India’s largest bank SBI, which merged its operations with six of its associate banks – State Bank of Bikaner and Jaipur, State Bank of Patiala, State Bank of Travancore, State Bank of Hyderabad, State Bank of Mysore – along with Bharatiya Mahila Bank in April 2017. SBI changed the names and IFSC codes of branches located in major cities such as Mumbai, New Delhi, Bengaluru, Chennai, Hyderabad, Kolkata and Lucknow, among others. SBI has close to 23,000 branches. The bank has put up the list of branches with old and new names and IFSC codes on its website. SBI customers can find the new IFSC code of the branches through the Branch Locator tool on its website – sbi.co
Good news for taxpayers, especially those who have recently filed their income tax return (ITR) and are waiting for a refund. They can now expect their ITRs to be processed fast by the Income Tax Department as the Central Board of Direct Taxes (CBDT) has reportedly asked the tax department to expedite the process of income tax refund. According to some media reports, some taxpayers have already got their tax refunds within 10 to 15 days of filing and e-verifying their returns. So, if everything goes well, taxpayers may soon start getting their tax refunds within 15 days of meeting all the conditions of return filing, provided no discrepancy is found by the tax department while processing a return. However, the refund may get delayed in case an income tax return has not been e-verified a...
New Delhi: One of India’s largest digital wallet services providers, Paytm, on Wednesday announced that it is finally launching Foreign Exchange (Forex) services – Forex cash and Forex card – giving customers the provision to access top 20 international currencies on its platform. The development comes after Paytm had in April said it is seeking to foray into forex service, in a bid to expand its business. It may be noted that the company had received AD Category II from the Reserve Bank of India (RBI), which is a licence required to become an authorised dealer. This is another venture by the digital payment company to expand its product portfolio to attract more customers. What is the service all about? Issuing a statement after the launch of service, Paytm said it has launched a p
Amazon Prime membership is available for Vodafone prepaid members at 50 per cent discount. Under Vodafone’s “Youth Offer on Amazon Prime”, prepaid customers aged between 18-24 can get 12-month Amazon Prime membership for Rs 499. The yearly membership of Amazon Prime is originally available for Rs 999. The e-commerce giant recently unveiled monthly plans as well that cost Rs 129 per month. Amazon Prime membership gives users various benefits including, free faster delivery, access to Amazon Prime Video, exclusive access to deals, and more. It also comes bundled with Prime Video, which offers Indian and regional video content as well as Prime Music for ad-free music in several languages. Vodafone prepaid customers will need to sign up on MyVodafone app and pay Rs 499. Post
Android smartphone users are being warned against a new ‘Frankenstein’ virus that cybercriminals are looking to spread. Dubbed MysteryBot, the virus combines the worst features of different malwares like ransomware, keyloggers and banking trojans to create a virus that can attack on many fronts. Security researchers from ThreatFabric discovered the malware, and said it appears to be related to the well-known LokiBot Android banking trojan. “We believe there is indeed a link between the creator(s) of LokiBot and MysteryBot. This is justified by the fact that MysteryBot is clearly based on the LokiBot bot code,” a ThreatFabric spokesperson was quoted in Bleeping Computer. MysteryBot is capable of taking control of infected devices, with the ability to read messages, gather contact info
Ministry of Road Transport and Highways has partnered with DigiLocker to make digital Driving Licenses (DL) available to Indian citizens, according to the official website of DigiLocker – https://digilocker.gov.in/ Under the partnership, DigiLocker will now directly integrate with the National Register, which is the national database of driving license and vehicle registration data across the country, said DigiLocker. The users of DigiLocker can now easily access the digital form of RC both on their mobile devices and on computers.Benefits of Digital Driving License• As per the DigiLocker, the digital Driving License will minimize the use of physical documents. • The citizens can share the authentic digital driving license directly from the data source. • The digital driving li
Employees’ Provident Fund (EPF) deposits are deducted every month from the salary of working people. Employees’ Provident Fund is a mandatory contribution from the salary of an individual that every company which has more than 20 employees has to deduct. EPF accounts are overseen by the Employees’ Provident Fund Organisation (EPFO), which is under the Ministry of Labour & Employment. EPF contributions are shared equally between employees and employer. Thus, both employee and employer contribute equally towards EPF, which is thus shown as a deduction in the cost-to-company or salary structure of an employee. Here are 10 things to know about Employees’ Provident Fund (EPF) contributions: 1) An employee contributes 12 per cent of his salary towards EPF while an employer pays 12