Deadline for filing Income tax return for individuals extended upto 30th September
The Central Board of Direct Taxes (CBDT) today extended the due date of filing income tax returns for 2020-21 for individuals till 30 September. CBDT has also extended the ITR filing deadline for companies by a month till November 30.Further, submission of TDS statement for Q4 of FY 2020-21 is extended to 30th June 2021…
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What is the role of TPAPs in the payment space?
In the payment space, third-party service providers are primarily in the form of TPAPs, Payment gateways, and Payment aggregators. Presently, around 200 crore UPI transactions are undertaken each month out of which a sizeable share are originated through the Third Party Application Providers (TPAPs). In the financial space, third-party apps are often connected to a…
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Guidelines for applying the Sovereign Gold Bonds
The resident Indians (individuals, HUFs, Trusts, Universities, Charitable institutions, etc.,) as defined under FEMA Act 1999 are eligible to invest both in a single name or joint name. In the case of joint names, the buying limit applies to the first applicant. The bonds can also be purchased in the minor’s name. Though the tenor…
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EPFO raises death insurance relief to Rs.7 lakh to the family of employees under the EDLI scheme
The Employees’ Deposit Linked Insurance Scheme (EDLI) is an insurance cover provided by the Employees’ Provident Fund Organization (EPFO). The government of India has introduced the Employees Deposit Linked Insurance Scheme (EDLI) in 1976 to help the employees particularly keeping in mind the private-sector employees who may not enjoy any social security benefits as normally…
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What is Rupee Drawing Arrangement (RDA)?
Above and beyond, normal channels of remittance to India from cross-borders(abroad), there are two more channels for receiving inward remittances, viz. Rupee Drawing Arrangement (RDA) and Money Transfer Service Scheme (MTSS) which are the most common arrangements under which the remittances are received into our country. Rupee Drawing Arrangement (RDA) is a way of transferring…
What is Money Transfer Service Scheme- MTSS?
Above and beyond, normal channels of remittance to India from cross-borders (overseas jurisdiction), there are two more channels for receiving inward remittances, viz. Rupee Drawing Arrangement (RDA) and Money Transfer Service Scheme (MTSS) are the most common arrangements under which the remittances are received into India. Money Transfer Service Scheme (MTSS) is the most common…
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