TechnoBiz News Feed

mAadhaar, a new app for syncing Aadhaar data with on mobile phones, has been launched by the UIDAI, which is the agency responsible for Aadhaar. The mAadhaar app is only available on Android, and the developer for this is listed as UIDAI on the Google Play Store. mAadhaar, a new app for syncing Aadhaar data on the mobile phone, has been launched by the UIDAI, which is the agency responsible for Aadhaar. The mAadhaar app is only available on Android for now, and the developer for this is listed as UIDAI (Unique Identification Authority of India). If you search for the app in the Google Play Store , you should find it listed there. Just be careful when typing the name, make sure it is mAadhaar, and you don’t end up downloading some fake app. So what does the mAadhaar app on Android do, and how can you set up this app? What purpose will the mAadhaar app solve for users? We explain below on what are the features of the mAadhaar app. What does the mAadhaar app do? How can a user ...

There's no denying the fact that the banking sector is the life-line of the bustling Indian economy and it caters to millions every day. Over the years, the banking sector has been including a lot of technology in its system. The objective here is simple - get rid of repetitive tasks, provide better services and make the sector run smoothly. Banking: Things will always change In order to provide better services to the populous nation, banking needs all the help it can get. Automation is not a dirty word. While it takes over certain jobs, it gives birth to several more. Recently, the 50th anniversary of ATM was celebrated. ATMs radicalized the system of bank withdrawals. That was needed then; this is needed now. Change is the only constant. Robot: You have got a "Mitra" to help you out There is hardly any point in deploying skilled labor on a task which is basic or repetitive in nature. Now, if one walks into the Canara Bank head office, he/she will be gree...

Mandatory Quoting of Aadhaar For PAN Applications & Filing Return of Income Section 139AA of the Income-tax Act, 1961 as introduced by the Finance Act, 2017 provides for mandatory quoting of Aadhaar / Enrolment ID of Aadhaar application form, for filing of return of income and for making an application for allotment of Permanent Account Number with effect from 1st July, 2017. As per press release of Income Tax Department on 5th April 2017, it is clarified that such mandatory quoting of Aadhaar or Enrolment ID shall apply only to a person who is eligible to obtain Aadhaar number. As per the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016, only a resident individual is entitled to obtain Aadhaar. Resident as per the said Act means an individual who has resided in India for a period or periods amounting in all to one hundred and eighty-two days or more in the twelve months immediately preceding the date of application for enrolment...

CBDT notified the ITR or Income Tax Return Forms AY 2017-18 (FY 2016-17). There are few major changes in these forms. Let us see in detail these changes and understand which form you can use. There is no change in the manner of filing of ITR Forms as compared to last year. All these ITR Forms are to be filed electronically. However, where return is furnished in ITR- 1 (Sahaj) or ITR-4 (Sugam), the following persons have an option to file return in paper form- # An individual of the age of 80 years or more at any time during the previous year; or # An individual or HUF whose income does not exceed five lakh rupees and who has not claimed any refund in the return of income. Income Tax Slabs for FY 2016-17 (AY 2017-18) Before understanding the Income Tax Return Forms AY 2017-18 (FY 2016-17), let us first understand the taxation for FY 2016-17 or AY 2017-18. Below is the chart about Capital Gain Tax for FY 2016-17 (AY 2017-18) Now you might have got the clarity ab...

The income tax department on Wednesday clarified that quoting of Aadhaar in filing of returns for assessment year 2017-18 has been made mandatory for only those who are eligible to obtain the unique ID number. The government, as per the Finance Act 2017, has made it mandatory for taxpayers to quote Aadhaar or enrolment ID of Aadhaar application form for filing of income tax returns (ITR). Also, Aadhaar has been made mandatory for applying for permanent account number with effect from July 1, 2017.  "It is clarified that such mandatory quoting of Aadhaar or enrolment ID shall apply only to a person who is eligible to obtain Aadhaar number... Accordingly, the requirement to quote Aadhaar as per section 139AA of the Income-Tax Act shall not apply to an individual who is not a resident as per the Aadhaar Act, 2016," an official statement said. Resident as per the said Act means an individual who has resided in India for a period or periods amounting in all...

Acknowledging that there are problems with the guest worker visa program, the Trump administration on Monday began enforcing tighter norms on issuance of H-1B visas, while suggesting that previous US administrations had been lax in the matter. While the smackdown on alleged misuse of the H-1B program came from the White House podium, the Justice Department issued a stern statement cautioning employers petitioning for H-1B visas not to discriminate against American workers. "The Justice Department will not tolerate employers misusing the H-1B visa process to discriminate against US workers,'' said Acting Assistant Attorney General Tom Wheeler of the Civil Rights Division. ''U.S. workers should not be placed in a disfavored status, and the department is wholeheartedly committed to investigating and vigorously prosecuting these claims.'' Separately, USCIS, the agency involved in the visa issuance, issued a notification tightening bureaucratic n...

It's an attempt to simplify the tax filing process and reduce the compliance burden on the tax payer. The Central Board of Direct Taxes (CBDT), the income tax regulator, has notified the new simplified income tax return forms for the assessment year 2017/18. Here are the changes that you should know about. 1) The New ITR- 1 (Sahaj) Form is a one page form and it can only be filed by an individual with income of up to Rs 50 lakh a year. This will include salaried income, interest income and income from one house property. "Those who have income of more than Rs 50 lakh or own more than one house property will have to file ITR - 2 Form," said Archit Gupta, founder and CEO, Cleartax.com. 2) In order to account for those who have deposited Rs 2 lakh or more in a bank account during the demonetisation period, the tax department has introduced a new column where the person filing the tax will have to give details of the money deposited and bank account. If a person...