Validate ID of bank loan seekers via UIDAI, Income tax dept: Survey
Friday, January 31, 2020, 3:52 PM
The Economic Survey 2019-20 has proposed the creation of a GSTN like entity called PSB Network(PSBN) and the use of Machine Learning and artificial intelligence to help banks avoid frauds. Under the Public Sector Bank Network (PSBN) the Survey has suggested the use of UIDAI, Udyog Aadhaar and Income Tax Department as identity verification agencies to validate the identity of customers seeking a loan.
Delhi polls: Toll-Free Number Launched For Information on Black Money
Saturday, January 18, 2020, 4:24 PM
Ahead of the upcoming Delhi Assembly Election 2020, the Income-Tax(I-T) department has started a toll-free number to help people inform it about the stashing of black money. The launch of the toll-free number-1800117574-is a part of the I-T department's efforts to ensure free and fair elections in the national capital. Assembly elections to the seventy seats in Delhi will be held on February 8.
Income tax refunds increase by 22% so far this year
Wednesday, December 4, 2019, 8:56 PM
The IT-department has issued 22% more refunds till November-28 as compared with the same period of the last-year. The CBDT figures show that refunds in FY 2019-20 was Rs.1.46-lakh-crore as compared to Rs.1.19-lakh-crore, an increase of 22.7%. The income-tax department issued 43-lakh more refunds within 30 days in the FY 2019-20, compared to the previous year, which results in an increase of over 42%.