After November 8, 2016, many of us were suddenly pushed to explore digital modes of making payments even for the most basic of purchases like buying daily rations. While a lot of us have moved to electronic payments, not many are aware of the costs are attached with it. Read on to find out about the various fees and charges of different types of electronic payment modes: National Electronic Funds Transfer (NEFT) NEFT is a payment system facilitating one-to-one funds transfers. One can access this service either by using Internet banking or by visiting the bank branch. (Not all bank branches are enabled with this service.) Once you initiate the transfer, the money reaches beneficiary account within hours. There is no minimum or maximum amount, however, an individual bank may put restr...
Which are the Best Tax Saving Options for 2018-19? What are the Best Tax Saving Options for Salaried for 2018-19?Financial Year 2018-19 already started. However, many of us sadly get up at the end to look for best tax saving options. Instead, it is always best to start tax planning for the first day of financial year. Hence, let us look at the options available. Tax Planning or Tax Saving is not a bad concept. But the bad concept is to invest JUST FOR SAVING TAX. Instead, you have to first identify your financial goals. Based on the time horizon of the goal, do the asset allocation between debt and equity. Within debt or equity, while finally investing, you may choose the product which also gives you an option to save tax. However, many of doing the reverse. We all in the aslee...
Axis Bank has revised its fixed deposit (FD) interest rates with effect from June 1, 2018, following in the foot steps of State Bank of India (SBI) which hiked its FD interest rates effective May 28, 2018. Since SBI is the largest lender of the country, other banks may also follow the league. ICICI Bank has not hiked its interest rates since December 11, 2017. HDFC Bank hiked its fixed deposit interest rates in April-end. Given below are fixed deposit interest rates offered by SBI, ICICI Bank, HDFC Bank and Axis Bank: Fixed deposit interest rates offered by SBI (All figures in % per annum) Tenors Existing for Public w.e.f. 28.03.2018 Revised For Public w.e.f. 28.05.2018 Existing for Senior Citizens w.e.f. 28.03.2018 Revised for Senior Citizens w.e.f. 28.05.2018
This development came after the Supreme Count issuing an interim order on March 14, stating an indefinite extension of the deadline to link Aadhaar with mobile numbers, bank accounts and passports. Aadhaar is no longer needed to get a mobile connection. Telecom companies will now be accepting other documents also, like driving license, passport and voter ID, since the Centre directed them to implement the new rule immediately. The previous deadline was of March 31 and Supreme Court issued an interim order on 14th March which indefinitely extends the deadline for linking Aadhaar to mobile phone numbers, bank accounts, passports and other services. Dipak Misra, Chief Justice, headed a five-judge bench and mentioned that till the time no judgment comes on the constitutionality of “unique
Very soon, the State Government will launch a scheme where for the issue of birth certificates, mother’s medical records related to pregnancy will be mandatory. The government has had a soft launch for the scheme and is testing the software for the purpose. At the time of issue of birth records, the child’s family will have to furnish a RCH (Reproductive and Child Health) identity number, which the private or government hospitals will use to send the records to the local body concerned for issue of birth certificates. Without the RCH identity number no birth certificate will be issued, say sources in the Coimbatore Corporation. The number is generated when pregnant women go to private or government hospitals for their first consultation. In case of government hospitals, the authoritie
Higher penalty The last date to file your income-tax returns (ITR) is usually 31 July, unless it is extended by the income tax department. From the assessment year 2018-19, if you don’t pay your tax on or before the deadline, you will have to pay a penalty of up to Rs 10,000 for late payment. If you file returns after 31 July and on or before 31 December, you will have to pay Rs 5,000 as penalty. However, if you file returns after 31 December, you will have to pay a fine of Rs 10,000. This penalty is applicable for those who have a taxable income of more than Rs 5 lakh. If your taxable income is up to Rs 5 lakh and you have delayed your ITR, you will have to pay Rs 1,000 penalty. 1% interest a month LiveMint if you don't file your ITR your tax on or before the deadline, you will hav
Want to change name of a passenger in your e-ticket? IRCTC (Indian Railway Catering and Tourism Operation) now offers the facility of changing name of e-ticket passenger. This can be done by approaching the nearest railway reservation office, said IRCTC on its official website- irctc.co.in. For availing this facility, customer can now approach the nearest Railway Reservation Office with 'electronic reservation slip' print out and photo identity proof in original of one of the passenger traveling in the ticket at least 24 hours before the scheduled departure of train as per extant railway rules, IRCTC added. Here are few things to know about passenger's name change in IRCTC e-ticket: 1. The reservation offices can change passenger's name against a request from the passenger as per
Employees’ Provident Fund (EPF) is deducted every month from a salaried person’s monthly income. EPF is a mandatory contribution from the salary of an individual that every company that has more than 20 employees has to deduct. The Employees’ Provident Fund Organisation (EPFO) monitors and takes care of EPF contributions, which are shared equally between employees and employer. If you have shifted from one company to another, you need to file a transfer claim for EPF money. This claim can be filed online via EPFO’s website, epfindia.gov.in. Here are five things you need to know about transfer of EPF claims online: 1) The EPFO member is required to be registered on member portal to file the transfer claim online. The detailed process flow for the registration is available at the link av
After months of large scale non-compliance in filing of the summary return (GSTR-3B) by taxpayers under Goods and Services Tax (GST), the tax department has started sending reminder notices to such assessees. Some of the notices issued for the first three months of this year has given taxpayers three days to comply, or else the department would assess the liability based on information available with them. The notices are in line with government’s stated approach of employing enforcement actions gradually as the system stabilises. The tax department has also asked assessees to explain the mismatch of details filed in GSTR-3B and GSTR-1 (outward supply). Besides, central board of indirect taxes and customs (CBIC) has launched a year-long exercise to verify transitional credit claims made
There may be thousands of ways that can help you make money. Among the ways you find online, many may be legit, while a lot of options may not necessarily help you make any money. With the advent of smartphones, people have found a lot of ways to earn money with them. These apps won’t make you a millionaire overnight, but help you for your day to day needs and save money. Money earned from these apps will help you with your monthly bills. Check these seven smartphone applications SquadRun With the help of SquadRun, you can now make money by doing meaningful tasks. On this app, you need to complete a given mission to show you’re capable of doing the tasks in the app. Based on your mission completed, you will be given tasks that suit your skills and experience. Once you have complet