Tag Archives: Digital India

Cryptocurrency – What Is Digital Currency And How To Work?

Learn All the important information related to Blockchain Cryptocurrency: Crypto Currently, there is a way of financial transaction. Similar to Indian Rupees and US Dollars, the difference is that it is stable and does not appear, nor can you touch it, and that’s why it also says digital currency. Expansion The crypto entire remains the hottest […]

Know everything about numberless payment card ‘Fampay’

Know everything about numberless payment card ‘Fampay’ The fame card is like a debit card. It can be used for teens online (UPI and P2P) and offline payment . FamPay has launched the first numberless card. Its name is Famcard. This new-age bank provides banking facilities to teenagers. The fame card is like a debit […]

Section 269SU – Mandates to provide Digital Payment Facility

Section 269SU – Mandates to provide Digital Payment Facility Section 269SU Mandatory Requirement to Provide Digital Payment Facility by Certain Class of Persons Notification No. 105/2019-Income Tax dated 30th December 2019 We are moving towards Cashless economy and government has done a lot to remove black money circulation from our system. Cashless economy is the […]

Cashback on shopping could be taxable!

Cashback on shopping could be taxable! In festive season, Cash backs offered by e-shopping websites to attract customers.  But this year, Mr. Sharma is a little hesitant in buying anything from these websites. Last year, he bought a smartphone, laptop, refrigerator, AC, and TV for his new house from one of the e-commerce websites. He […]

Notices to 10,000 depositors post demonetisation

Notices to 10,000 depositors post demonetisation The revenue department has issued preliminary notices to about 10,000 people under the benami law seeking source of income details as it analyses data on deposits of cancelled notes after the November 2016 demonetisation.

Benami Transaction and Sham Transactions

Benami Transaction and Sham Transactions Prohibition of Benami Property Transactions Act, 1988, an act promulgated to prevent and prohibit “Benami” transactions in India on 5th September, 1988. The Act, 1988 has only 9 Sections and not so effective, while preventing and prohibiting “Benami” Transactions. The Act, 1988 previously called The Benami Transactions (Prohibition) Act, 1988.