TDS Current Affairs, GK & News

Income Tax Department to launch its new e-filing portal

Income Tax Department is set to launch its new ITR e-filing portal, which can be accessed through website called “www.incometax.gov.in’’. ITR e-filing portal ITR e-filing portal will be launched with aim of providing a modern, seamless and more convenient experience to taxpayers. Portal has been integrated with immediate processing of Income Tax Returns and quick refunds ..

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Finance Minister launched instant Aadhaar based E-KYC

On May 27, 2020, the Union Finance Minister Nirmala Sitaraman launched instant Aadhaar based E-KYC. Highlights The facility will be available for PAN applicants that possess valid Aadhaar number. They should also have a mobile number registered with Aadhaar. The process of allotting PAN is paperless and is also free of cost. Union Budget The ..

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Rs 20 Lakh crore Economic Package: MSME, EPF, NBFC, MFI, Real Estate Benefited

The Government of India had earlier launched Pradhan Mantri Garib Kalyan Yojana. Under which Rs 1.7 lakh crore was allocated. The Lock Down 4.0 that is to be launched on May 18, 2020 will operate under Atma Nirbhar Bharat Abhiyan. Highlights Under the new scheme, the Finance Minister Nirmala Sitaraman announced 15 different measures. Of ..

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CBDT issues clarification over Section 115 BAC of Income Tax Act

The Central Board of Direct Taxes recently clarified that the employers shall seek clarification and detect tax at source. Section 115 BAC The Section 115 BAC was inserted recently into the Income Tax Act, 1961. According to the section, a person receiving income other than family business shall be taxed under Section 115 BAC. This ..

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RBI announces sale of Sovereign Gold Bonds

The Reserve Bank of India (RBI) announced the issue of Sovereign Gold Bonds (SGBs) on behalf of Government of India. Sovereign Gold Bonds Sovereign Gold Bonds are government securities denominated in grams of gold. They were introduced as substitutes for holding physical gold. The bonds will be restricted for sale to resident individuals, HUFs, trusts, ..

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