The government has made it mandatory to link the existing Aadhaar numbers with the PAN cards of taxpayers with effect from July 1, 2017. In fact, Section 139AA of the Income-tax Act, 1961, as introduced by the Finance Act, 2017, provides for mandatory quoting of Aadhaar / Enrolment ID of Aadhaar application form, for filing of return of income and for making an application for allotment of Permanent Account Number with effect from 1st July, 2017.
Accumulating a corpus of Rs. 1 crore is a dream for many. But many individuals who are in their early twenties don’t follow a systematic investment habit, thinking that they will start when they earn more. But you will be surprised to know that you don’t need to save a lot of money every month to accumulate Rs. 1 crore, provided you start early. Time 6% 8% 10% 12% 20 Years Rs.
Just a month after the announcement of new Rs. 20 notes in the Mahatma Gandhi Series-2005, Reserve Bank of India (RBI) on Friday said that it will also bring new Rs. 50 banknotes shortly in circulation. The new Rs. 50 notes will be in the Mahatma Gandhi (New) Series, bearing signatures of RBI governor Urjit R Patel, the central bank said in a press release. With “Fluorescent Blue” as the base colour, the new note “has motif of Hampi with Chariot on the reverse,” it added.
Airtel has come up with a new Rs 399 offer for its customers. This offer is valid only for prepaid users. According to the new tariff, prepaid users can avail 1GB data per day for a period of 84 days at Rs 399. Apart from the data offers, Airtel will also provide unlimited calls (both local and STD) on all networks under this Rs 399 plan. This offer appears to be a direct effort by Airtel to take on rival Jio, as the latter has an almost similar plan.
The government has extended till March a cashback scheme that offers incentives of up to Rs. 1,000 to merchants for accepting payments through mobile application BHIM (Bharat Interface for Money). “The BHIM cashback scheme for merchants will be operational till March 31, 2018,” a note by Ministry of Electronics and IT said. The scheme was launched by Prime Minister Narendra Modi on April 14 for a period of six months for promoting cashless payments through the BHIM app.
Subsidised cooking gas (LPG) price was today raised by over Rs. 7 per cylinder, in line with the government’s decision to hike prices every month so that all subsidises are eliminated by this fiscal-end. A subsidised 14.2-kg LPG cylinder now costs Rs. 487.18 in Delhi as against Rs. 479.77 previously, according to Indian Oil Corporation, the nation’s largest fuel retailer. Oil Minister Dharmendra Pradhan had on July 31 told the Lok Sabha that the government had asked state-owned oil companies to raise subsidised cooking gas (LPG) prices by Rs.
In a relief to scores of taxpayers, the government on Thursday extended the deadline for linking income tax permanent account number (PAN) with Aadhaar by four months to December 31, according to news agency Press Trust of India. August 31, Thursday, was supposed to be the last day for linking of Aadhaar and PAN cards. People who do not have Aadhaar can file their Income Tax returns, but their returns will not be processed till they submit their Aadhaar number, PTI reported quoting a source.
The asset under management of Indian mutual fund industry touched record high of Rs 20 lakh crore in July, driven by strong inflows into both debt and equity segments. Retail investors have been pumping record amount into mutual funds through SIPs. It is estimated that investors are putting in nearly Rs 5,000 crore every month through SIPs. Systematic Investment Plan or SIP as it is commonly known, is an investment plan offered by mutual funds, wherein one could invest a fixed amount in a mutual fund scheme at fixed intervals.
Despite falling interest rates, PPF (public provident fund) remains one of the popular small savings schemes. Interest rate on PPF and other small savings scheme are being reset every quarter from April last year, as compared to the annual mode earlier. Investors in PPF currently get an interest rate of 7.8 per cent. The interest rate on PPF and other small savings schemes are benchmarked to yields on government bonds, with a small mark-up.
In order to smoothen the process of lower denomination transactions, Reserve Bank of India (RBI) has introduced new Rs. 200 notes. The Reserve Bank, earlier, stated that the production of the new notes will be increased as currently the Rs. 200 notes are only available through select RBI offices and banks. “The production of these notes (Rs. 200) is being ramped up by the currency printing presses and over time as more notes are printed, it will be distributed across the country through the banking channels and will be available for public in adequate quantity,” RBI said in a statement.