Forex spend tax: FAQs awaited on many aspects

While Wednesday's decision has provided relief and clarity to several taxpayers, banks and travel agents, there are several aspects on which stakeholders are awaiting the FAQs.

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Customers face brunt of new bank locker rule

Many bank branches are unprepared, lacking necessary documents for signing the agreements, despite customers being notified to visit and update these. Customers have expressed frustration over the inconsistency in stamp duty denominations between branches in the same state.

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Will PPF interest rate increase for July-September quarter?

The central government has not revised the interest rate of PPF since April 2020. It has remained at 7.1 per cent since then. Will the interest rate of the Public Provident Fund (PPF) increase in July-September quarter? To know whether there will be a hike in PPF interest for the next quarter, you need to understand how the interest rate is calculated. Take a look

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Despite high medical inflation only 15% of Indians made health insurance reimbursement claims above Rs 1 lakh

A survey has revealed that only about 0.2% Indians had made and received a health insurance reimbursement claim above Rs 10 lakh during April 2022-March 2023.

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EPFO likely to extend the deadline for higher EPS pension by three months: Sources

Employees were facing many issues while applying for higher pension due to a lack of clarity on various rules and delayed clarification from EPFO made it difficult for large number of employees to exercise their hard-earned option to apply for higher pension from Employees' Pension Scheme (EPS). Here are some reasons why extension is needed.

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Applying for higher EPS pension: As glitches plague EPFO portal govt may again extend deadline

At present, the deadline for submission of applications for higher pension ends on June 26. The process continues to be riddled with an array of technical snags that the Employee Provident Fund Organisation (EPFO) has not been able to fix, despite them being flagged by both employees and employers repeatedly.

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Higher EPS pension: Snags hit EPFO portal as deadline looms

Issues persist despite being red flagged by EPFO’s Central Board of Trustees as well as by employer organisations.

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Monday is the last date to apply for higher EPS pension

The deadline to apply for higher pension from Employees' Pension Scheme (EPS) is June 26, 2023 i.e., Monday. However, it may happen that you still have not applied for the same or are unable to submit the application form due snags on the website. Then you must hurry up and submit the application form as soon as possible.

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EPS higher pension: 'Unable to submit' EPFO members complain on Twitter as deadline nears

Many EPF members are complaining on Twitter that they are unable to submit the joint application form on the EPFO's Member Sewa portal for higher pension. It is important to note that the last date to apply for higher pension from EPS is July 26, 2023 - which is coming Monday.

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Will PAN-Aadhaar linking deadline be extended beyond June 30?

The Central Board of Direct Taxes (CBDT) has extended the last date to link PAN with Aadhaar from March 31, 2023 earlier to June 30, 2023. There is a penalty amount to be paid to the income tax department before linking of PAN with Aadhaar. Will the government extend the deadline to link PAN with Aadhaar once again?

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Biparjoy Cyclone: LIC announces relaxations for victims of cyclone

LIC has announced concessions in an effort to ease the suffering of LIC policy claimants and Pradhan Mantri Jeevan Jyoti Bima Yojana recipients impacted by the Biparjoy cyclone.

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Cyclone Biparjoy: Insurance claim payments to be disbursed at the earliest says Irdai

In order to expedite the settlement of insurance claims in all states impacted by storm Biparjoy, the Insurance Regulatory and Development Authority of India (IRDAI) has requested life insurers to take the appropriate actions.

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Banks ask RBI to frame policy for silver loans

A bank executive aware of the matter said with the increase in silver exports, jewellery manufacturers have been asking banks to extend credit for the procurement of silver, silver articles and jewellery manufacturing.

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Savings account holders can earn FD like interest up to 7% with Kotak Mahindra Bank; Check details

ActivMoney automatically transfers surplus funds in the account above a predetermined threshold into a fixed deposit to assist consumers in achieving a greater interest rate on their savings.

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More than Rs 2.42 lakh crore disbursed to PM Kisan beneficiaries; when is next PM Kisan instalment due?

A PM Kisan beneficiary will receive Rs 6,000 per year as part of its goal to give financial support to marginal and small farmers.

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NRIs get income tax department's queries on investments

A significant number of non-resident Indians (NRIs), including those in the UAE, have received notices under sections 148/148A from the income tax (I-T) department for reassessment. Details are being sought of high-value transactions like purchase of immovable property, investment in securities or deposits or even for outward remittances from India.

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PNB launches IVR based UPI 123PAY: How to use, other features

In keeping with the Digital Payment Vision 2025 of a cashless and cardless society, Punjab National Bank (PNB) has created UPI 123PAY, an IVR-based UPI service. This was announced by the bank in a news statement.

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Tax returns filed late, directors of 2 jewellery firms get 6mths RI

The accused, Jitendra Jain and Kiran Jain, are both directors of Saloni Jewellers Pvt Ltd and M/s Yellow Jewellers Pvt Ltd. In each case, seeking the maximum sentence against the two, special public prosecutor Amit Munde said that that they are habitual offenders and similar case is pending against them.

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RuPay forex cards to be issued soon; can be used at overseas ATMs, PoS machines, online merchants

RuPay Debit and Credit cards issued by banks in India have gained international acceptance through bilateral arrangements with international partners and co-badging arrangements with international card schemes.

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Book FDs at high interest rates before they start to dip as RBI MPC is expected keep repo rate unchanged

RBI MPC and its impact on fixed deposit interest rates: The RBI MPC is likely to keep the repo rate unchanged yet again in its June Monetary Policy Committee (MPC) meeting. As an FD investor if you want to make the best out of the likely interest rate cycle reversal towards possible rate cuts, you need to act now. Investors still have a chance to hop on the bus of high fixed deposit interest rates. Here's how you can go about it

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Irdai instructs insurers to ease, expedite claims settlement for victims of Odisha train accident

Insurance companies must abide by rules set forth by the Insurance Regulatory and Development Authority of India (Irdai) when resolving insurance claims for those hurt in the recent train disaster tragedy in Balasore, Odisha.

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Life certificate submission at any branch, online deposit claim settlement: RBI committee's major recommendations

The Reserve Bank of India (RBI) organised a committee last year to investigate the customer services provided by RBI-regulated enterprises (RE) such as banks, non-bank financial firms (NBFCs), and payment service operators.

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Withdraw money from ATM using UPI: Bank of Baroda launches new facility; how to use

Now customers can withdraw cash from a Bank of Baroda ATM without using their Debit Card with the help of UPI, according to a Bank of Baroda press release.

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These HDFC Bank services will not be available on these days due to scheduled downtime

Customers of HDFC Bank have been notified via email that certain services won't be available due to a planned maintenance for essential system and upgrades.

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Kotak Mahindra Bank Debit Card services will be unavailable on these days

Kotak Mahindra Bank has announced that due to maintenance work, Kotak Bank Debit and Spendz Card services would be unavailable for a few hours on these days.

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