Tag Archives: Payments

Excess surcharge paid by FPIs to be adjusted in future tax payments

Foreign portfolio investors (FPIs), who have been paying higher surcharge in the past two months on remittance of gains in the form of advance tax, will pay less going forward. The payment of tax will reduce to the extent of excess surcharge paid by the FPIs in the past, said experts. The higher tax paid would depend on the quantum of ... Read More »

Digital Payments: Indirect Tax Assessments Not To Be Reopened If Turnover Rises

The governmenthas been encouraging people to shift towardsdigital mode of payment. New Delhi: The Revenue Department on Sunday said officials will not reopen the past assessments of excise and service tax of assessees even if their turnover in the current period increases on account of digital payments in the wake of demonetisation. In a circular to excise and service tax chief commissioners, the Central Board ... Read More »

Digital Payments Push: Single UPI Platform In Offing For Banks

New Delhi: In order to promote digital transactions, an upgraded Unified Payments Interface for banks is in the offing that will provide a cost effective and secured option, a senior finance ministry official has said. A single UPI platform is being developed for all banks as against the existing system of individual platform, the official said. Currently, about 30 banks ... Read More »

Snapdeal Integrates FreeCharge Bill Payments on Its Android, iOS Apps

Snapdeal has integrated FreeCharge’s mobile recharging, utility bill, and DTH payments into its Android and iOS apps. The new feature provides users a single-click view for recharge plans and recharge history for repeat users, to provide a frictionless shopping experience, the company said. Other highlights include the ability for repeat users to look up recharge history, and view a concise ... Read More »

Amazon Acquires Indian Payments Processor Emvantage

Amazon.com Inc said it has acquired Indian payments processor Emvantage Payments Pvt Ltd for an undisclosed sum. Emvantage’s employees will join Amazon’s India unit that will use the company’s technology on its e-commerce website, Amazon said in a statement. Amazon has been rapidly expanding into India’s fast growing e-commerce segment that is likely to grow to $220 billion (roughly Rs. ... Read More »

MoboMoney Partners ToneTag for Contactless Payments Using Sound

Tech Mahindra announced its tie-up with Bengaluru-based contactless payments solution provider ToneTag on Thursday. ToneTag’s patented technology will be integrated into the MoboMoney mobile application, its commercial NFC-enabled digital wallet, and made available to Android users on Google Play, the company said. ToneTag’s software development kit (SDK) allows offline, contactless and secure payments using sound as well as NFC, depending ... Read More »