The Reserve Bank of India has doubled the limit for cash withdrawal at point-of-sale (POS) in Tier III to VI centres from ₹ 1000/- to ₹ 2000/- per day. This facility will be available for debit cards and open system prepaid cards issued only by banks. It is envisaged that the enhanced amount will add…
F. No. DGIT(S)/DIT(S)-2/ITWG on Financial Sector Reporting/12/2015 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No 3/2015 New Delhi, 25th August, 2015 Procedure for registration and submission of report as per clause (k) of sub section (1) of section 285BA of Income-tax Act, 1961 read with…
What is Income-tax? It is a tax levied by the Government of India on the income of every person. The provisions governing the Income-tax Law are given in the Income-tax Act, 1961. What is the administrative framework of Income-tax? The revenue functions of the Government of India are managed by the Ministry of Finance. The…