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  Updated List of banks for tax payments available at e-Pay Tax service at e-Filing Portal- HDFC Bank, Punjab & Sind Bank and State Bank of India have been migrated from OLTAS e-Payment of Taxes at NSDL to e-Pay Tax facility at the e-Filing portal for payment of taxes wef 01.04.2023 and RBL Bank is added to the list wef 28.04.2023 henceforth. No. Bank Name New/Migrated Bank Date of enablement at e-Pay Tax Service at e-Filing Portal 1. Axis Bank Migrated Bank 01-Nov-22 2. Bank of Baroda Migrated Bank 01-Feb-23 3. Bank of India Migrated Bank 01-Sep-22 4. Bank of Maharashtra Migrated Bank 01-Oct-22 5. Canara Bank Migrated Bank 01-Oct-22 6. Central Bank of India Migrated Bank 01-Nov-22 7. City Union Bank New Bank 01-Jan-23 8. Federal Bank New Bank 01-Jul-22 9. HDFC Bank Migrated Bank 01-Apr-23 10. ICICI Bank Migrated Bank 01-Nov-22 11. IDBI Bank Migrated Bank 01-Jan-23 12. Indian Bank Migrated Bank 01-Nov-22 13. Indian Overseas Bank Migrated Bank 01-Oct-22 14. IndusInd Bank New Ban...

  Fixed-income investors are in for another treat. The interest rate of RBI Floating Rate Savings Bonds 2020 (Taxable) (FRSBs) is all set to hit 8 per cent for the first time since its inception. Popularly known as RBI 7.15% Bonds, it currently offers an interest rate of 7.35 per cent. The interest rate on these bonds is reset every six months and is due on July 1, 2023, next. How interest rate of RBI Floating Rate Savings is calculated Unlike other bonds, the interest rate of these bonds is not fixed. It is linked to the interest rate of the National Savings Certificate (NSC), a small savings scheme offered by the Union government. RBI Floating Rate Savings Bonds will pay 0.35 per cent higher than what NSC offers. The interest rate of NSC is reviewed every quarter along with other small savings schemes. If the interest rate on NSC goes up, then the RBI Floating Rate Savings Bonds 2020 (Taxable) will offer a higher interest rate accordingly. Similarly, if the interest rate of NSC g...

  Sources said Sebi has been writing to various regulators in several jurisdictions over the past few weeks regarding the Adani issue The Securities and Exchange Board of India’s (Sebi’s) investigation into the Hindenburg allegations is making slow progress when it comes to obtaining information from overseas regulators, particularly around ultimate beneficial ownerships of certain foreign portfolio investors (FPIs), said people in the know. “Establishing ultimate beneficial ownerships for FPIs is a very complex exercise. Several jurisdictions allow omnibus structures where the end beneficiaries are not required to be captured or are based in some other geographies. This entails writing to different regulators, some of whom may not be entitled to share information due to different pacts,” said a person in the know.Sources said Sebi has been writing to various regulators in several jurisdictions over the past few weeks regarding the Adani issue. Some of the information sought includ...

  Union Finance Minister Smt. Nirmala Sitharaman chairs review meeting with Central Board of Indirect Taxes & Customs (CBIC) Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman chaired a review meeting with Central Board of Indirect Taxes & Customs (CBIC), here today. The review meeting was attended by the Revenue Secretary; Chairman, CBIC and Members of CBIC. The comprehensive review covered a variety of work areas including trade facilitation, tax payer services, grievance redressal of the trade; finalisation of disciplinary cases and infrastructure projects, and progress of the upcoming Palasamudram campus of the National Academy of Customs, Indirect Taxes & Narcotics (NACIN). The Finance Minister emphasised the need for continuously improving tax payer services. With respect to grievance redressal, Smt. Sitharaman desired that in each Zone interaction be organised with members of trade and industry who are part of the GST ecosystem to know the...

  Finance Minister Nirmala Sitharaman on Saturday directed Central Board of Indirect Taxes & Customs to introduce its automated GST return scrutiny by next week and to implement an action plan to increase the taxpayer base through enhanced use of technology. Sitharaman, did a comprehensive review with CBIC and covered a variety of work areas, including trade facilitation, tax payer services, grievance redressal of the trade and finalisation of disciplinary cases and infrastructure projects, In a statement, the finance ministry stated that Sitharaman asked CBIC to intensify its drive against fake billing/Input Tax Credit (ITC) and undertake a comprehensive root cause analysis by studying the typology of cases already booked and come up with recommendations on technology based solutions to address the menace and prevent its occurrence. The FM emphasised the need for continuously improving tax payer services and in respect to grievance redressal desired that in each zone interacti...