India Post Payments Bank: Aapka Bank Aapke Dwaar Prime Minister Narendra Modi on 1st September 2018 launched India Post Payments Bank (IPPB). IPPB aims to take banking to the doorstep of every common people through the vast network of post offices in the country. Initially, IPPB services are available at 650 branches and 3,250 access […]
Personal Finance
Operation Clean Money: Verify cash deposits online on Income Tax portal
Cash Deposits Verification Online on e-filing portal of Income Tax Dear Reader, post demonetization income tax department is now working hard to identify cases of cash deposits which are not in line /par with the taxpayer’s profile. In the first phase, Income tax department has scrutinized & identified 18 lakhs persons where cash deposited by […]
Income Tax on Gifts Received in India – Taxability & Exemption
Tax on Gifts received in India: Rules & Exemption We all love to give and receive gifts from our friends, colleagues and relatives. In India giving gift is customary. It is seen as a sign of friendship, closeness. We receive lot of gifts from our family friends, relatives, office colleagues on various occasions or festivals. […]
Union Budget 2017-18 Key Highlights
Highlights of Union Budget merged with Railway Budget 2017-18 Finance minister Arun Jaitley today on 1st Feb 2017 presented the union budget 2017-18 in the Lok Sabha. This time, merger of railway budget with Finance Budget 2017 is a historic step by government. Here are the key highlights of the Union Budget for your reference: […]
Have you updated your PAN with Banks & Post offices?
Update Your PAN or Form No. 60 with Banks & Post Office Dear reader, recently the Central Board of Direct Taxes (CBDT) has amended the income-tax rules and asked all banks to link the Permanent Account Number (PAN) or Form No. 60 (where PAN is not available) to all existing bank accounts by 28 February […]