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Tag: Transaction

  • Kanye West treasurer resigns, alleges possible ‘unlawful’ campaign transaction

    Kanye West treasurer resigns, alleges possible ‘unlawful’ campaign transaction

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    In a separate letter addressed to Ye and obtained by POLITICO, Krason said he had been told he was going to be terminated by Yiannopoulos but was resigning before that was made official. He also said he had recently learned of a “potentially serious criminal transaction” involving the Kanye 2020 campaign, saying that Yiannopoulos “submitted falsified invoices and for expenditures that would be deemed unlawful” in November 2022, before Krason assumed the role as treasurer. He added that there was too much “personal animosity” for a professional relationship with Yiannopoulos.

    Reached by phone, Krason said he felt he needed to leave Ye’s campaign following the personnel changes and due to concerns about Yiannopoulos outlined in his letter to Ye.

    Yiannopoulos denied any wrongdoing by himself or the Kanye 2020 campaign to POLITICO, saying he was not going to “give any credence or ridiculous, ridiculous and easily disproven claims.” He suggested the allegations were a “venomous” attempt by the former treasurer to lash out while leaving the campaign. Ye could not be reached for comment directly.

    The resignation letter cited an expense for a digital asset where Yiannopoulos allegedly sought reimbursement from both Kanye 2020 and the campaign of Rep. Marjorie Taylor Greene, a Republican from Georgia for whom Yiannopoulos had previously worked, though not recently.

    The Kanye 2020 campaign previously reported paying $40,000 to Yiannopoulos in December 2022 for “campaign wrap up services” as well as nearly $10,000 a month prior for a “domain transfer,” according to FEC filings. But there are no direct payments to Yiannopoulos in Greene’s campaign filings from that time. A spokesperson for Greene did not immediately respond to a POLITICO inquiry.

    Ye previously ran for president in 2020. Despite initial concerns he could play a spoiler role, he won less than 68,000 votes nationwide, according to Ballotpedia. Last November, he dined with former President Donald Trump at Mar-a-Lago shortly after Trump’s 2024 campaign launch.

    Kyle Cheney contributed to this report.

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    ( With inputs from : www.politico.com )

  • Do customers have to pay transaction fees for UPI payments?

    Do customers have to pay transaction fees for UPI payments?

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    The National Payments Corporation of India (NPCI) has announced that beginning April 1, an interchange charge of up to 1.1% would be levied on merchant UPI (Unified Payments Interface) transactions.

    According to a recent circular from the NPCI, utilising Prepaid Payment Instruments (PPIs) for UPI transactions would incur an interchange fee. If the transaction exceeds 2,000, fees will be applied.

    The interchange charge varies depending on the kind of retailer. It ranges from 0.5% to 1.1%, with a limit in place in specific areas.

    According to a statement released today by NPCI, the new charge is exclusively applicable to merchant transactions done using prepaid payment instruments. The payments authority stressed that there will be no costs charged on conventional UPI transfers, dubbed “bank account-to-bank account based UPI payments.”

    The interchange charge for telecom, education, and utilities/post office is 0.7%, while the fee for supermarkets is 0.9% of the transaction amount. Insurance, government, mutual funds, and railways will be charged 1%, fuel 0.5%, and agricultural 0.7.

    The charges will be applicable from April 1.

    In the event of peer-to-peer (P2P) and peer-to-peer-merchant (P2PM) transactions, exchange will not be used. PPP issuers will be asked to pay a wallet-loading charge of 15 basis points (bps) to the remitter bank for transactions above 2,000.

    The NPCI will evaluate the price on or before September 30, 2023.

    In August of last year, the Finance Ministry announced that UPI is a digital public benefit and that no fees will be levied on transactions done through it.

    “UPI is a digital public good with immense convenience for the public & productivity gains for the economy. There is no consideration in Govt to levy any charges for UPI services. The concerns of the service providers for cost recovery have to be met through other means,” the ministry tweeted.

    The announcement came after the RBI released a discussion paper in which it stated that UPI, as a fund transfer system, is similar to IMPS (Immediate Payment Service), and so costs in UPI might be equivalent to those paid on IMPS fund transfers.



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    ( With inputs from www.siasat.com )

  • Bank Transaction Affected: Big news! You will not be able to do

    Bank Transaction Affected: Big news! You will not be able to do

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    PAN Card and Aadhaar Card are our essential documents. It has been made mandatory to link PAN card with Aadhaar. The last date to link PAN card with Aadhaar card is March 31. If you do not link these two documents, then you will not be able to do online transactions.

    It has been made mandatory to link PAN card with Aadhaar. For this, the deadline of March 31, 2023 has been fixed by the Central Government. After this your PAN card will be junk. Explain that if the PAN card becomes invalid, then there may be a problem in doing banking transactions. It is reasonable that PAN card is necessary for transactions above Rs 50,000. If your PAN card becomes invalid, then after March 31, transactions of more than Rs 50,000 may be affected. That’s why users should link PAN with Aadhaar before 31 March 2023.

    Will have to pay a fine of Rs 1000

    If you link PAN with Aadhaar by 31 March 2023, then you will not have to pay any charge. But after this your PAN will be cancelled. Also, to activate the PAN, a fine of Rs 1000 will have to be paid as late payment.

     

    How to know pan is linked with aadhaar

    • First of all go to https://uidai.gov.in/ website.
    • After this visit Aadhaar Linking Status of Aadhaar Services menu.
    • Then Enter 12 Digit Aadhaar Number and Tap on Get Status Button.
    • Then enter the PAN number and captcha code.
    • After this click on Get Linking Status.
    • In this way it can be ascertained whether PAN is linked with Aadhaar or not.

    How to link Pan with Aadhaar

    • First of all click on www.incometaxindiaefiling.gov.in website.
    • After that click on Quick Links on the left side.
    • Then click on the Link Aadhaar option.
    • After this a new page will open, where PAN and Aadhaar number will have to be entered.
    • Below this, right side validate button has to be clicked.
    • Then there will be verification of name, date of birth and address.
    • Then OTP verification will link Aadhaar with PAN.

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    ( With inputs from : kashmirpublication.in )

  • Cash Transaction Limit fixed: Income tax department has fixed

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    If you mostly use cash for transactions then you need to be careful. The Income Tax Department can issue a notice in your name. Explain that the Income Tax Department monitors people who do more transactions in cash.

    If you have more cash transactions in your transaction history, then you may be asked about the source of the money.

    Let us tell you that the Income Tax Department is taking strict steps regarding financial irregularities. In such a situation, all those people who use cash for big transactions can be on their radar. Today we are here telling you what rules have been made regarding cash transactions which you need to keep in mind.

    No more than 10 lakh cash in bank account or FD

    If you deposit Rs 10 lakh or more in cash in any of your bank accounts in a financial year, then the Income Tax Department can ask you for its information. Please tell that its maximum limit in the current account is Rs 50 lakh. At the same time, in FD also, you cannot deposit more than Rs 10 lakh in cash in a year. If you want to deposit more amount than this, then you can pay online or through cheque.

    Use of cash for credit card bill payment or investment

    If you use cash more than Rs 1 lakh for credit card bill payment, then you can be asked for its information. At the same time, you cannot use much cash for investment. If you do cash transactions in any shares, mutual funds or bonds, then keep in mind that for this also you cannot use more than 10 lakh cash in a financial year. If you do this, the Income Tax Department can send you a notice.

    Rules for paying for property in cash

    Cash is widely used in the real estate sector. If you pay in cash to buy a property, it is important to know its rules. Let us tell you that after making a big transaction in cash with the property registrar, its report goes to the Income Tax Department. If you buy or sell a property worth Rs 30 lakh or more in cash, the Income Tax Department gets information about it. These rules should always be kept in mind otherwise you may get into trouble.

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    ( With inputs from : kashmirpublication.in )

  • UPI Transaction Limit: Can only 20 transactions be done in a day

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    UPI Transaction Limit: Can only 20 transactions be done in a day from UPI? know details


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    UPI Transaction Limit: UPI (Unified Payments Interface) is at the forefront of online transactions. The use of UPI has increased very fast for any purchase or transaction and it is so easy. Small to big transactions done in just a few clicks.

    We have become so dependent on UPI Payment Apps for our every transaction that we do many transactions in a day and then it is known that we have crossed the day’s transaction limit. But what is the transaction limit of UPI in a day? This question often comes in front of the customers and now it has been raised in the Parliament as well.

    Question raised in Parliament regarding UPI Transaction Limit

    Lok Sabha MP Dushyant Singh asked in a written question in Parliament whether there is any limit on the number of online transactions that can be done through a bank on UPI payment apps like Paytm, Google Pay and PhonePe in a day? Along with this, he asked some more questions, such as what are the details of this limit rule, what are the reasons for it? Do public sector banks only apply this limit? Will this hinder the Digital India mission or will the government consider removing these rules?

    What was the government’s reply on UPI Transaction Limit?

    Minister of State for IT Rajeev Chandrasekhar said that yes there is a limit on the number of online payments or transactions that can be done through the bank in a single day on the use of UPI payment. According to the latest guidelines issued by NPCI (National Payment Corporation of India) on January 10, 2023, only 20 transactions can be done in a 24-hour period from a bank account in P2P ie person-to-person category.

    In which the time of the first transaction will be considered as the starting time. This limit has been fixed to protect the customer from possible financial fraud and to comply with the standards for the use of UPI.

    In his written reply, the Union Minister said that this limit is applicable to public sector banks including member banks in the UPI UCO-system. The UPI limit is revised from time to time by NPCI to increase customer adoption of UPI and increase the penetration of digital payments.

    CCE3A284 7CA8 4396 B157 9391D8BF8D05

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    ( With inputs from : kashmirpublication.in )

  • Cheque transaction Rules Change! Big news! This bank has

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    Punjab National Bank: If your account is also in Punjab National Bank (PNB), then this news is for you. If you pay by cheque, then you will not be cheated. Yes, PNB has implemented a new system of cheque payment to save crores of customers of the bank from fraud.

    Now Positive Pay System (PPS) has been made mandatory for customers to make cheque payments of Rs 5 lakh or more. This change will come into effect from April 5 next month.

    It is necessary to give details of cheque in PPS

    Public sector bank has taken this step to save customers from any fake payment through cheque. In a statement from PNB, it was said that this decision will come into effect from April 5, 2023. Earlier, it was necessary to give the details of the cheque in the Positive Pay System (PPS) for payment of cheque of Rs 10 lakh and above. The statement said that PPS is a system developed by the National Payments Corporation of India (NPCI). Under this, customers have to confirm the necessary details while issuing chequs of a certain amount.

    Additional security to avoid risk

    These details include account number, cheque number, cheque alpha code, date of issue, amount and beneficiary name. This provides additional security to avoid any risk while making payment of large amount of cheques. The bank said that customers can avail this facility by giving cheque details through branch office, online banking, mobile banking or SMS banking.

    Availing the facility at the option of the account holder

    As per RBI guidelines, PNB had earlier introduced PPS for cheque of Rs 50,000 and above presented in CTS clearing from January 1, 2021. It was also said on behalf of RBI that it is at the discretion of the account holder to take advantage of this facility. Banks may consider making it mandatory for cheque of Rs 5 lakh and above.

    What is Positive Pay System

    PPS is a system developed by the National Payments Corporation of India (NPCI). Under this, customers are required to reconfirm necessary details such as account number, cheque number, cheque alpha code, date of issue, amount and beneficiary name etc. while issuing a cheque of a certain amount. In this, the customer has to provide all these details to the bank.

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    ( With inputs from : kashmirpublication.in )

  • ATM Transaction Limit and Charges: customers know the latest

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    Check ATM Transaction Limit and Charges: Nowadays almost all ATMs do transactions. But if you do not know the rules and charges of ATM transactions, then you may suffer financial loss.

    RBI has made rules for ATM withdrawal limit and charges, on the basis of which banks have fixed their charges. In fact, the ATM transaction limit often depends on your account type and the debit card you are using. If you are a customer of SBI, HDFC, ICICI or Axis Bank, then let us know how much will be charged and what is your bank’s ATM cash transaction limit?

    As per RBI rules, ATMs in six metro cities such as Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai and New Delhi have different rules. There will be at least three free transactions (including financial and non-financial transactions) in a month, while in other places, banks have to allow their savings bank account holders to have at least five free transactions (financial and non-financial transactions) at other bank ATMs in a month. including financial transactions).

    According to the information given on the SBI website, you can do 3 free transactions in 6 metro centers (Mumbai, Delhi, Chennai, Kolkata, Hyderabad and Bangalore). Whereas in other places 5 free transactions (financial and non-financial) can be done in a month. 20 plus GST for withdrawing money from other bank’s ATMs after five transactions and 10+GST applicable on SBI ATMs. In this, for non-financial transactions in excess of the limit, Rs 8 plus GST for ATMs of other banks and Rs 5 plus GST for SBI ATMs.

     

    As per the information on HDFC Bank’s website, HDFC Bank offers 5 free transactions per month for savings and salary accounts at bank ATMs, 3 free transactions at Metro ATMs and 5 free transactions at non-metro ATMs for other banks gives. HDFC Bank charges Rs 21 plus GST if you make cash withdrawals more than the specified number of free transactions, while for non-financial transactions, Rs 8.50 plus GST.

    As per the information given on the ICICI Bank website, the first five transactions (both financial and non-financial) done at ICICI Bank ATMs are free. After that, you will be charged Rs 21 for withdrawal and Rs 8.50 for non-financial transactions. In this too, the first three transactions (financial and non-financial) every month at non-ICICI Bank ATMs in six metro areas (Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad) are free as per RBI norms. At the same time, apart from this, the first five transactions (financial and non-financial) in other cities are free.

    Regarding withdrawal from ATMs, RBI has said that banks should provide at least five free transactions in a month to their savings bank account holders. Wherever the ATM is located, non-cash withdrawal transactions will be provided free of cost. That is, RBI is friendly to customers regarding ATM rules.

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    ( With inputs from : kashmirpublication.in )

  • New Cash Transaction Rule: Income tax notice will come on these

    New Cash Transaction Rule: Income tax notice will come on these

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    New Cash Transaction Rule: The Income Tax Department has become very cautious about cash transactions these days.

    In the last few years, the Income Tax Department and various investment platforms like banks, mutual fund houses, broker platforms, etc. have tightened the cash transaction rules for the general public. Let us know the complete details about it.

    Now these investment and lending institutions allow cash transactions only up to a certain limit. The Income Tax Department can send a notice if there is even a slight violation.

    There are many such transactions, which are monitored by income tax. If you do large cash transactions with banks, mutual funds, brokerage houses and property registrars, they will have to inform the Income Tax Department. Let us know about 5 such transactions, which can land you in trouble.

    Bank Fixed Deposit (FD)

    Cash deposit in bank FD should not exceed Rs 10 lakh. The Central Board of Direct Taxes (CBDT) has announced that banks will have to disclose whether individual deposits in one or more fixed deposits exceed the prescribed limit.

     

    Bank savings account deposit



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    The limit for cash deposit in a bank account is ₹10 lakh. If a savings account holder deposits more than ₹10 lakh during a financial year, the Income Tax Department can send an Income Tax notice. Meanwhile, cash deposits and withdrawals in a bank account that cross the limit of ₹10 lakh in a financial year must be disclosed to the tax authorities. In current accounts, the cap is ₹50 lakh.

    Credit card bill payment

    As per CBDT rules, payments of Rs 1 lakh or more in cash in lieu of credit card bills should be reported to the Income Tax Department. Additionally, if ₹10 lakh or more is paid in a financial year to settle credit card bills, the payment should be disclosed to the tax department.

    Sale or purchase of real estate

    The property registrar will have to disclose to the tax authorities any investment or sale of immovable property for an amount of ₹30 lakh or more. Therefore, in the purchase or sale of any real estate property, taxpayers are advised to report their cash transactions in Form 26AS as the Registrar of Property will definitely report about the same.

    Investment in Shares, Mutual Funds, Debentures and Bonds

    Investors investing in mutual funds, stocks, bonds or debentures should ensure that their cash transactions in these investments do not exceed ₹10 lakh in a financial year.

    The Income Tax Department has prepared the Annual Information Return (AIR) statement of financial transactions to trace high-value cash transactions of taxpayers. The tax authorities would collect details of abnormally high value transactions in a particular financial year on this basis.

    money notes

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    ( With inputs from : kashmirpublication.in )

  • ATM Transaction New Charges: Big news! Withdrawing cash

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    all about cardless withdrawal of cash from atms

    Canara Bank has increased the service charge on annual fee, replacement of card, debit card inactivity charge and SMS alert charge. The new service charges will be applicable from February 13. Let’s know the complete details about it.

    Public sector Canara Bank has given a big blow to the customers in the new year. Actually, the bank has increased the service charge on all types of debit cards. According to the bank notification, the new service charges will be applicable from February 13, 2023.

    In a statement issued by Canara Bank, it was said that the bank has increased the service charge on annual fee, replacement of card, debit card inactivity charge and SMS alert charge. Taxes are not included in the service charge. Applicable taxes will be charged extra. The revised service charges will be effective from February 13, 2023.

    Canara Bank Debit Card Annual Fee

    Under the changes, Canara Bank has increased the annual fee on the use of Debit Card. The annual fee for Classic or Standard Debit Card has increased from Rs 125 to Rs 200.

    The annual charge for the Platinum card has been increased from Rs 250 to Rs 500 and the annual charge for the business card has been increased from Rs 300 to Rs 500. The bank will continue to levy an annual charge of Rs 1000 for select Debit Cards.

    Fee up to Rs 150 will have to be paid for replacing the debit card

    According to Canara Bank, from February 13, the customer will have to pay Rs 150 for replacing the classic or standard category debit card. Earlier no fee was applicable on this. The bank has increased the debit card replacement fee from Rs 50 to Rs 150 for Platinum, Business and Select categories.

     

    Card Inactive Fee and Fee on Message Alert

    Charges will also have to be paid for deactivating the Debit Card of Canara Bank. The bank has implemented this charge of Rs 300 which will be applicable only on Business Debit cards. There will be no charge for deactivating the remaining category of cards. The bank has kept a fee of Rs 15 on SMS alert.

    Canara Bank Debit Card Inactivity Fee and Fee on Message Alert

    For Business Debit Card users, the bank will now levy a card inactivity fee of Rs 300 only annually. No charge will be levied on any other type of card. Apart from this, Canara Bank will now levy SMS alert charges on actual basis.

    Canara Bank has also made the loan costlier

    Recently, Canara Bank has increased the Marginal Cost Based Lending Rate (MCLR) by 15 to 25 basis points. Increase in MCLR will make home, auto and personal loans costlier. The increased interest rates have come into effect from January 7, 2023.

    all about cardless withdrawal of cash from atms

    The post ATM Transaction New Charges: Big news! Withdrawing cash from ATM has expensive from 13 February ! Quickly check what’s new charges now appeared first on Kashmir Publication.

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    ( With inputs from : kashmirpublication.in )

  • ATM Transaction: Keep this light in mind while withdrawing cash

    ATM Transaction: Keep this light in mind while withdrawing cash

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    Safe ATM Transaction: In addition to online transactions, withdrawing money from ATMs is also not safe amidst increasing cases of cybercrime. As much as ATM has made the problem of withdrawing cash easier, it has also increased the difficulties more than that.

    A little caution can save you from any untoward incident. Before withdrawing money from ATM, you should check that how safe is the machine from which you are withdrawing money. The biggest danger in ATM is due to card cloning. We will tell you how your details can be stolen…

    Hackers steal the data of any customer from the card slot in the ATM machine. They put such a device in the card slot of the ATM machine, which scans the complete information of your card. After this, they steal data from Bluetooth or any other wireless device.



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    To gain complete access to your debit card, the hacker needs to have your PIN number. Hackers can track the pin number with a camera. To avoid this, whenever you enter your PIN number in the ATM, hide it with the other hand. So that his image does not go in the CCTV camera.

    When you go to the ATM, check the card slot of the ATM machine carefully. If you feel that any tampering has been done in the ATM card slot or the slot is loose or there is any other problem then do not use it.

    While putting the card in the card slot, pay attention to the light burning in it. If the green light is on in the slot then the ATM is safe. But if red or any other light is not burning in it, then do not use the ATM. This could be a sign of a glitch.

    If you ever feel that you have fallen into the trap of hackers and the bank is also closed, then you should contact the police. By giving this information to the police as soon as possible, you can get fingerprints there. You can also see who has an active Bluetooth connection around you, making it easier to reach that person.

     

    1623466742 atm1

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    ( With inputs from : kashmirpublication.in )