Banking and Finance Apps Archives - Page 2 of 2

The everyday usage of banking apps have risen as never before. At the same time, usage of banking websites have gone down. This has been reported by the British Bankers Association (BBA).

In 2015, 4.3m website logins happened per day, as against 4.4m in 2014 while 11m users logged in using apps in 2015 as against 7m in 2014.

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BBA chief executive Anthony Browne said that the customers are loving the new tech as it allows them to bank round the clock.

Does the same remain true for online payments?

When it come to payments, users are still more inclined to use a desktop. 347m payments happened through mobiles in 2015 while 417m payments happened through desktops. But there was a significant change from last year. Payments through app increased by 54% while it was just 2% for website transactions.

There are numerous new app-based banks around the world which are making it easier for customers to pay on the go.

Income tax department developing a mobile app to fill tax returns.

“We are developing a mobile app which can be used by users for filing their income tax returns. There are some security related issues, which we will resolve soon,” Central Board of Direct Taxes (CBDT) Chairperson Anita Kapoor said on Saturday after inaugurating ‘Taxpayers’ Lounge’ at the India International Trade Fair (IITF) here.

Filing tax returns via online mode has seen a sharp increase in recent years.

Talking about direct tax collections, Ms Kapoor said, “Collections are doing well and we are keeping our fingers crossed. The December collection of advance tax will actually give us a good idea.”

Rs. 7.98 lakh crore will be collected as direct tax in the current financial year.

The panel has clear terms of reference. They are expected to give their first report in January. They can give it earlier if they deem it proper. They have sufficient time,” she said.

Filling tax returns through mobile is an easy and a convenient way for the taxpayers.