I-T dept has temporarily suspended e-filing of returns

The income-tax (I-T) department in its press release has stated that temporarily it has suspended the e-filing of returns until it renews the website’s security certificate, which expired on 8 May

While giving clarification on the matter stated that the process for renewal has been started well before the certificate had lapsed.

According to press release, “Pending completion of certification procedure, the e-filing facility for AY (assessment year) 2010-11 has been temporarily suspended. This will not affect taxpayers in any way, as the earliest income-tax return for AY 2010-11 falls due on 31 July 2010. The facility is expected to be renewed very shortly”.

The release added, “The e-filing portal of the income-tax department remains fully secure, and lapse of the security certificate does not mean that its security features are slackened or compromised”.

On the other hand on Monday a senior official from Entrust, the agency that issued the security certificate to the I-T department, informed that the renewal procedure has been completed.

A security certificate guarantees the authenticity of a website and ensures that all transactions are encrypted and, hence, secure.

Earlier on Mint it was reported that due to the lapse of the security certificate, filing tax returns online could be risky as it could potentially compromise confidential information of tax assesses.

RBI raised cash limit for foreign travel to $3,000

The Reserve Bank of India has raised the cash limit for foreign travel to $3,000 from $2,000 with immediate effect.

Now people traveling abroad can carry foreign exchange up to $3,000 or its equal amount in other currencies without the central bank's approval.

The bank said, "The existing limit has been reviewed and it has been decided to increase this ceiling, with immediate effect."

RBI had assessed this ceiling in November 2001.

However, for an amount over $3,000 the travelers have to take permission from the central banking institution.

The central bank has clarified that the new limit will not be applicable to those traveling to Iraq, Libya, Iran, Russia and the CIS (former Soviet central Asian republics) nations.

It said, people traveling to Iraq and Libya can carry $5,000, and added that the provisions for travelers to Iran, Russia and CIS nations have not been modified