ATM-based Validation Enhanced for e-ITRs

The Income-Tax department has widened the ATMbased validation system for filing e-ITRs by taxpayers with the nclusion of Axis Bank, after SBI, as part of its measure to enhance the paperless regime of filing the annual I-T returns. “Now, Electronic Verification Code (EVC) can also be generated by pre-validating ATM provided by Axis Bank.SBI had activated the facility last month. Other banks are expected to join soon,“ a senior I-T department official said.

The Economic Times New Delhi,14th July 2016

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RBI deputy governor cautions fintech platform lenders on privacy concerns during loan recovery

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