Unified Payment Interface (UPI) transactions beat another monthly record in terms of the number of transactions (volume) and for the transacted amount (value). In December, UPI volumes reached 2,234.16 million, and the value of transactions touched Rs 4,16,176 crore, new all-time records respectively, as per data from NPCI.
The rate as well as how the dividend income shall be taxed for dividend received on or after April 1, 2020 shall depend on a number of factors including residential status, particular income head. If the shareholder is non-resident then DTAA or double taxation avoidance agreement (DTAA) and Multilateral Instrument (MLI) shall also be considered.
On Wednesday, shares of Tata Communications Limited fell 8% to Rs 1,040 after the company reported its earnings for the December-ended quarter. The company reported a five-fold jump in consolidated net profit at Rs 309.41 crore for October-December 2020 when compared to Rs 58.85 in the same period a year ago.
The Institute of Chartered Accountants of India (ICAI) in its pre-budget memorandum has made a recommendation to the centre to increase the annual limit for contributing to PPF to Rs. 3 lakh from the existent limit of Rs. 1.5 lakh. Also, for the 80C, the appeal has been made to increase the limit to Rs. 2.5 lakh from Rs. 1.5 lakh.