ITAT Mumbai found that full TDS credit has not been granted since assessee’s employer has deducted TDS bu ...More

ITAT Mumbai found that full TDS credit has not been granted since assessee’s employer has deducted TDS but has not remitted the same to the revenue. Because of this, full TDS credit didn’t reflect in her Form 26AS and so the Rs 3.91 lakh TDS credit claim was denied. Read on to know how the taxpayer won the case. ...Less

Understanding Tax Deducted at Source (TDS) on your salary is crucial. Employers calculate your annual tax ...More

Understanding Tax Deducted at Source (TDS) on your salary is crucial. Employers calculate your annual tax liability based on declared income and deductions, then divide it to deduct tax monthly. This ensures smooth tax collection throughout the year. The article details TDS calculations for CTCs of Rs 15, 20, and 25 lakh under both old and new tax regimes, offering insights for salaried individuals. ...Less

July marks crucial income tax deadlines for Indian taxpayers. The major deadline is July 31 for salaried ...More

July marks crucial income tax deadlines for Indian taxpayers. The major deadline is July 31 for salaried individuals and pensioners to file their Income Tax Returns (ITR), alongside numerous other compliance forms. ...Less

Salaried individuals awaiting Form 16 for ITR filing can still proceed without it. Employers must issue t ...More

Salaried individuals awaiting Form 16 for ITR filing can still proceed without it. Employers must issue this TDS certificate by June 15th. If delayed, taxpayers can use salary slips, bank statements, and crucial documents like AIS and Form 26AS to verify income and tax details. These online statements, accessible via the Income Tax portal, are vital for accurate filing and ensuring TDS credit. ...Less

Taxpayers must correct TDS challans for Tax Year 2026-27 on the old TRACES portal. This is crucial if the ...More

Taxpayers must correct TDS challans for Tax Year 2026-27 on the old TRACES portal. This is crucial if the challan was mistakenly filed under FY 2025-26. Failure to correct will prevent TDS credit for Tax Year 2026-27, increasing tax liability. The new TRACES portal does not yet support this correction. Timely correction ensures proper tax credit and avoids disputes. ...Less

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Crypto trading is booming in India's smaller cities, with Delta Exchange India emerging as a key player. ...More

Crypto trading is booming in India's smaller cities, with Delta Exchange India emerging as a key player. The platform offers low fees, full INR settlement, and features catering to both beginners and advanced traders. Notably, F&O trading on Delta Exchange avoids the 1% TDS and 30% flat tax, making it an attractive option for active participants seeking affordability and regulatory compliance. ...Less

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Individuals and Hindu Undivided Families (HUFs) are required to file income tax returns (ITR) if their to ...More

Individuals and Hindu Undivided Families (HUFs) are required to file income tax returns (ITR) if their total taxable income before the applicable exemptions and deductions exceeds the basic exemption limit. Even if you’re exempt, file a return if you have a refund due, or you need to apply for a loan, passport or visa. ...Less

NRIs can significantly reduce tax on NRE deposits in India, as this income is tax-exempt. While NRO accou ...More

NRIs can significantly reduce tax on NRE deposits in India, as this income is tax-exempt. While NRO account interest is taxable in India, NRIs can leverage Double Taxation Avoidance Agreements (DTAAs) to potentially lower their tax burden or claim credits in their country of residence, avoiding double taxation. ...Less

Senior citizen FD interest rates: Bandhan Bank has boosted fixed deposit interest rates, offering senior ...More

Senior citizen FD interest rates: Bandhan Bank has boosted fixed deposit interest rates, offering senior citizens a compelling up to 7.95% rate on select tenures. This revision, effective June 20, 2026, also sees other customers benefiting from competitive rates. The bank's savings accounts also provide attractive returns for higher balances. ...Less

Form 168: The Income Tax Department has unveiled Form 168, a comprehensive upgrade to the Annual Informat ...More

Form 168: The Income Tax Department has unveiled Form 168, a comprehensive upgrade to the Annual Information Statement, effectively superseding the traditional Form 26AS. This new form consolidates all tax-related and financial transaction data linked to your PAN, offering a holistic view of your tax compliance. It's automatically generated, so taxpayers don't need to file it. ...Less

NRIs and OCIs can use NRE accounts for overseas income and NRO accounts for India-sourced income, but tax ...More

NRIs and OCIs can use NRE accounts for overseas income and NRO accounts for India-sourced income, but tax treatment differs sharply. NRE interest is tax-free in India, while NRO interest attracts TDS and taxation. However, DTAA benefits may reduce the tax burden on NRO income and help avoid double taxation. ...Less

Aarogya Setu 2.0, a new Personal Health Record app, launched today, offering users access to health servi ...More

Aarogya Setu 2.0, a new Personal Health Record app, launched today, offering users access to health services, secure record storage, and nearby facility searches. Developed under Ayushman Bharat Digital Mission, it integrates PM-JAY services and introduces Ayushman Sarathi, a WhatsApp chatbot for easier access. ...Less

The I-T Department’s growing scrutiny, using AI and data analytics tools, leaves little room for omission ...More

The I-T Department’s growing scrutiny, using AI and data analytics tools, leaves little room for omissions and errors, making accurate tax return filing more important than ever. ...Less

Missed reporting your Fixed Deposit interest in your Income Tax Return? Don't worry, you can still fix it ...More

Missed reporting your Fixed Deposit interest in your Income Tax Return? Don't worry, you can still fix it. The Income Tax Department receives FD interest details, so omissions can be flagged. Filing an Updated Return (ITR-U) within four years allows you to declare missed income and rectify errors, though additional tax and penalties may apply. This voluntary step helps avoid future disputes and keeps your tax records accurate. ...Less

ITR filing: Transferring investments to your spouse to save taxes is a common misconception. The Income T ...More

ITR filing: Transferring investments to your spouse to save taxes is a common misconception. The Income Tax Department scrutinises fund sources and can club income back to the original provider. This applies to FDs, shares, and gold, where income or capital gains from gifted assets are often taxed in the transferor's hands. Proper documentation and reporting are crucial to avoid penalties and tax demands. ...Less

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Over 30 years ago in 1995, Amish Anantrai Modi had booked some shops in a project for a total considerati ...More

Over 30 years ago in 1995, Amish Anantrai Modi had booked some shops in a project for a total consideration of Rs 25 lakh. In his complaint, the buyer said that he needed suitable commercial premises to expand his existing business activities and earn his livelihood by means of self-employment. However, the builder never started construction of the proposed project. ...Less

The SC said that the homebuyer can make a claim for compensation for delayed possession. “The subsequent ...More

The SC said that the homebuyer can make a claim for compensation for delayed possession. “The subsequent receipt of possession cannot, by itself, extinguish the right of the allottee to seek adjudication of a claim for compensation for the alleged delay,” the top court stated. The top court has also revived the 2005 complaint made by the homebuyer. ...Less

While chasing higher returns often feels thrilling and makes you feel like you are winning, following dis ...More

While chasing higher returns often feels thrilling and makes you feel like you are winning, following disciple with a proper plan in mind is more likely to yield better returns for you over the long run. Financial planning helps you keep track of how much and where your hard-earned money is going. ...Less

NRIs view India with cautious optimism, recognizing its long-term growth potential despite recent market ...More

NRIs view India with cautious optimism, recognizing its long-term growth potential despite recent market flatness and rupee depreciation. Domestic institutional investment provides a structural buffer against volatility. Experts advise focusing on earnings compounding, financialization, and manufacturing themes, while carefully managing currency risks and tax regulations for optimal portfolio construction and wealth preservation. ...Less

Tenants paying over Rs 50,000 monthly rent must deduct TDS. This applies to individuals and HUFs not requ ...More

Tenants paying over Rs 50,000 monthly rent must deduct TDS. This applies to individuals and HUFs not requiring tax audits. The TDS rate is 2% on gross rent. Tax is deducted in the last month of tenancy or financial year. Tenants deposit TDS via Form 26QC and issue Form 16C to landlords. Failure to comply incurs interest and penalties. ...Less

With the ITR filing season for AY 2026-27 now underway, many salaried taxpayers who faced TDS shocks in t ...More

With the ITR filing season for AY 2026-27 now underway, many salaried taxpayers who faced TDS shocks in the last quarter of FY 2025-26 are now encountering self-assessment tax and interest liability while preparing to file their income tax returns. This article outlines five practical ways, including the use of Forms Nos. 122 and 124, through which salaried employees can avoid such tax shocks for Tax Year 2026-27. ...Less

ET Wealth Reader's Query: I contributed to EPF until 2021 while working at an MNC. Since moving to a star ...More

ET Wealth Reader's Query: I contributed to EPF until 2021 while working at an MNC. Since moving to a startup in 2022 that doesn’t offer PF, my EPF account has been inactive. The corpus is about Rs 32 lakh, and I’m considering withdrawing and reinvesting it. Will the withdrawal be tax-free since my total service exceeds five years? Are there better options than withdrawal, such as transferring to NPS? What would be a good long-term investment strategy for this? ...Less

WazirX Futures brings direct INR access, the lowest fees in the domestic market, and built-in risk guardr ...More

WazirX Futures brings direct INR access, the lowest fees in the domestic market, and built-in risk guardrails to a segment that has quietly been leaking volume to offshore platforms. ...Less

The Income Tax Department has flagged 15,000-20,000 cases of individuals using a 'swapped provisions' tri ...More

The Income Tax Department has flagged 15,000-20,000 cases of individuals using a 'swapped provisions' trick to unfairly reduce their tax liability. This involves manipulating claims like House Rent Allowance (HRA) for undue benefits. Taxpayers who engaged in this practice are advised to voluntarily pay the correct tax and interest, or seek condonation from the department to avoid penalties and potential legal action. ...Less

Resident and Ordinarily Resident (ROR) taxpayers with foreign assets or income must carefully disclose ov ...More

Resident and Ordinarily Resident (ROR) taxpayers with foreign assets or income must carefully disclose overseas investments, dividends and accounts while filing ITR. Direct foreign holdings require Schedule FA reporting, unlike Indian international mutual funds. Errors can attract penalties under the Black Money Act, making accurate disclosure and timely corrections essential for compliance. ...Less

Delhi Jal Board has started a pilot project to monitor water quality in real-time. An online water analys ...More

Delhi Jal Board has started a pilot project to monitor water quality in real-time. An online water analyser is installed in Gulmohar Park to check pH and disinfectant levels. This initiative follows recent complaints of water contamination. If successful, the project will expand across Delhi. The technology aims to quickly identify contamination sources. ...Less

Multinational corporations in India face a new tax challenge following a High Court ruling against EY US. ...More

Multinational corporations in India face a new tax challenge following a High Court ruling against EY US. The court determined that payments for employees deputed to India constitute taxable 'foreign technical services' (FTS), not mere cost reimbursements. This decision could increase the cost of bringing in foreign expertise by up to 10%, prompting companies to re-evaluate their secondment arrangements and potential GST liabilities. ...Less

A health probe is underway into liquid discharge from Tata's iPhone parts factory in Hosur. Farmers repor ...More

A health probe is underway into liquid discharge from Tata's iPhone parts factory in Hosur. Farmers report skin issues and contaminated farmland. The investigation adds to environmental concerns for Apple's manufacturing expansion in India. Water samples tested positive for E. coli. Tata states its analysis shows no contamination. The situation highlights a clash between industrial growth and local farming communities. ...Less

NRIs are questioning India's investment appeal due to recent flat returns and rupee depreciation. However ...More

NRIs are questioning India's investment appeal due to recent flat returns and rupee depreciation. However, experts emphasize India's strong long-term structural growth story, driven by a young population and rising consumption. Despite short-term cycles and US market rallies, India offers attractive dollar returns over the long haul, supported by improving corporate earnings and a stable currency outlook. Diversified investment across key themes is recommended for sustained wealth creation. ...Less

India's tax season now demands greater scrutiny for crypto investors as enforcement intensifies. New repo ...More

India's tax season now demands greater scrutiny for crypto investors as enforcement intensifies. New reporting requirements, including transaction-by-transaction entries in Schedule VDA and cross-referencing with exchange data, are crucial. Failure to comply accurately can lead to significant penalties, making diligent record-keeping essential for all participants. ...Less

The "Nature of Employment" field in the ITR is more than a routine disclosure. An incorrect selection can ...More

The "Nature of Employment" field in the ITR is more than a routine disclosure. An incorrect selection can affect certain tax benefits, including exemptions on gratuity, commuted pension and leave encashment, as well as deductions for employer contributions to NPS, potentially leading to incorrect tax computation and compliance issues. ...Less

The case dates back to 2010 when the two homebuyers had made bookings for 3BHK flats in a housing society ...More

The case dates back to 2010 when the two homebuyers had made bookings for 3BHK flats in a housing society project initially proposed in Noida. They were promised the possession of the flats in two years by 2012. However, following alleged disputes over land, the society shifted the project to Ghaziabad. ...Less

The All India Defence Employees’ Federation (AIDEF) has urged the 8th Pay Commission to replace the AICPI ...More

The All India Defence Employees’ Federation (AIDEF) has urged the 8th Pay Commission to replace the AICPI-IW-based inflation measure with a dedicated cost-of-living index for central government employees and pensioners. It argues the revised CPI underestimates rising expenses on food, healthcare, housing and education, leading to inadequate DA, DR, pay revisions and pension protection. ...Less

Delhi is experiencing water shortages across several areas. The Delhi Jal Board's water production is sig ...More

Delhi is experiencing water shortages across several areas. The Delhi Jal Board's water production is significantly below its summer target. Low raw water supply has impacted major treatment plants. Efforts are underway to increase supply from Haryana. A pilot project for real-time water quality monitoring has been launched in Gulmohar Park. ...Less

India's income tax administration has become increasingly data-driven, with information from TDS/TCS repo ...More

India's income tax administration has become increasingly data-driven, with information from TDS/TCS reporting, SFT filings and other sources being integrated into the Annual Information Statement (AIS) and used to cross-check taxpayer disclosures. In this environment, filing an accurate and complete ITR is essential to avoid refund delays, tax demands, penalties, compliance alerts and notices. ...Less

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An Indian pollution regulator has warned Tata Electronics, a key supplier for Apple's iPhones, about a po ...More

An Indian pollution regulator has warned Tata Electronics, a key supplier for Apple's iPhones, about a potential factory shutdown. The regulator alleges wastewater from the Tata plant in Hosur has contaminated groundwater near farms. Inspections found the factory discharged wastewater into a pond that overflowed. Tata claims an independent analysis shows full compliance with regulations. ...Less

Salaried individuals can still reduce their tax liability under the new tax regime for FY 2025-26. Key de ...More

Salaried individuals can still reduce their tax liability under the new tax regime for FY 2025-26. Key deductions include employer contributions to NPS and EPF, a standard deduction of Rs 75,000, and interest on home loans for let-out properties. Exempt perquisites and certain official allowances also offer tax benefits. ...Less

The CBDT has set June 30, 2026, as the deadline for issuing scrutiny notices under Section 143(2) for FY ...More

The CBDT has set June 30, 2026, as the deadline for issuing scrutiny notices under Section 143(2) for FY 2025-26 returns. An internal deadline of June 15, 2026, requires tax officers to forward selected cases for scrutiny. Taxpayers with errors can file updated returns or provide explanations during scrutiny. ...Less

Indian investors can now access global stocks, mutual funds, and bonds through GIFT City, India's first s ...More

Indian investors can now access global stocks, mutual funds, and bonds through GIFT City, India's first smart city and International Financial Services Centre. This initiative bypasses domestic investment caps, offering various products with minimum investment thresholds starting from USD 5,000 for mutual funds and USD 150,000 for AIFs. ...Less

The Bombay High Court, in its ruling, said a builder can’t indefinitely retain purchasers’ money while fa ...More

The Bombay High Court, in its ruling, said a builder can’t indefinitely retain purchasers’ money while failing to deliver homes. For the delay, the HC ordered the Mumbai-based builder to pay interest at 10.05% per annum from February 1, 2014, to the buyers until the possession is handed over. ...Less

June 2026 income tax deadlines are closer than many taxpayers realize. Form 16 issuance, TDS deposits, ad ...More

June 2026 income tax deadlines are closer than many taxpayers realize. Form 16 issuance, TDS deposits, advance tax payments and STT reconciliation can directly affect your Income Tax Return filing. A missed compliance step may lead to penalties, tax credit mismatches or filing delays. Before June 20, reviewing these key tax requirements could save both money and unnecessary scrutiny later. ...Less

Salaried employees await Form 16 for Assessment Year 2026-2027. Employers must issue this crucial tax doc ...More

Salaried employees await Form 16 for Assessment Year 2026-2027. Employers must issue this crucial tax document by June 15, 2026. This form simplifies Income Tax Return filing. Those without Form 16 can still file using salary slips, Form 26AS, and bank statements. The deadline for filing ITR for this period is July 31, 2026. ...Less

Manoj Soman had not filed an ITR for the relevant assessment year, which is FY 10-11 in this case. Based ...More

Manoj Soman had not filed an ITR for the relevant assessment year, which is FY 10-11 in this case. Based on information available through the AIR mechanism and other departmental databases, the Income-tax Department noticed substantial cash deposits in the taxpayer's bank account. ITAT Mumbai, however, ruled in the assesse’s favour, saying TDS cannot be denied even if ITR is not filed. ...Less

The CBDT has released new guidelines for compulsory income tax return scrutiny in FY 2026-27, impacting r ...More

The CBDT has released new guidelines for compulsory income tax return scrutiny in FY 2026-27, impacting returns filed in FY 2025-26. Specific risk parameters will mandate detailed examination by the I-T Department. A June 30, 2026 deadline is set for issuing scrutiny notices under Section 143(2). ...Less

The Income Tax Appellate Tribunal has ruled that tax deducted at source credit cannot be denied once inco ...More

The Income Tax Appellate Tribunal has ruled that tax deducted at source credit cannot be denied once income is taxed. This decision came in a reassessment case involving a Navi Mumbai taxpayer. The tribunal stated that taxes deducted and deposited cannot be disregarded on technical grounds. This ruling reinforces the linkage between taxing income and granting TDS credit. ...Less

The Senior Citizens Savings Scheme (SCSS) offers a stable 8.2% annual interest rate, ideal for retirees s ...More

The Senior Citizens Savings Scheme (SCSS) offers a stable 8.2% annual interest rate, ideal for retirees seeking predictable income. To earn Rs 20,000 monthly, an investment of approximately Rs 29.30 lakh is required, well within the Rs 30 lakh maximum limit. Interest is paid quarterly, and investments qualify for Section 80C tax benefits under the old tax regime. ...Less

Pension and family pension are taxed differently under the Income-Tax Act, yet many taxpayers continue to ...More

Pension and family pension are taxed differently under the Income-Tax Act, yet many taxpayers continue to confuse the two while filing returns. As AY 2026-27 return filing gathers pace, pensioners must understand the correct tax treatment, deductions, TDS provisions and compliance reliefs available to avoid errors and unnecessary notices. ...Less

Filing your Income Tax Return is more than just a tax duty. It acts as a vital financial record. It helps ...More

Filing your Income Tax Return is more than just a tax duty. It acts as a vital financial record. It helps in getting loans approved. You can claim tax refunds if you paid extra. Your ITR proves your income, especially for freelancers. It allows carrying forward losses to reduce future taxes. Many countries require it for visa applications. ...Less

A Bengaluru tech professional is experiencing significant financial stress after purchasing his first hom ...More

A Bengaluru tech professional is experiencing significant financial stress after purchasing his first home. Despite a good salary, the home loan EMI, rent, and upcoming registration and interior costs are overwhelming. He also supports his parents and siblings. He is now considering selling company stocks and renting out a room to manage the expenses. ...Less

Senior citizens can secure fixed deposit interest rates up to 8 percent for a three-year investment. Seve ...More

Senior citizens can secure fixed deposit interest rates up to 8 percent for a three-year investment. Several small finance banks are offering this attractive rate for deposits up to Rs 3 crore. Investors should be aware of TDS rules and the option to submit Form 15H to avoid deductions if their total income is below taxable limits. ...Less

With the utilities for ITR filing for AY 2026–27 being available now, many taxpayers are planning to file ...More

With the utilities for ITR filing for AY 2026–27 being available now, many taxpayers are planning to file their returns early. However, incomplete AIS data, pending TDS filings, and delayed financial reporting may lead to mismatches, notices, and revised returns. Taxpayers should prioritise accurate reconciliation and complete reporting over speed in tax compliance. ...Less

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With fees, security and ease of use all up for scrutiny, WazirX makes a strong case for being the everyda ...More

With fees, security and ease of use all up for scrutiny, WazirX makes a strong case for being the everyday trader’s go-to platform in India’s crowded crypto market. ...Less

India is actively shaping its digital asset future. Authorities are implementing stricter rules for crypt ...More

India is actively shaping its digital asset future. Authorities are implementing stricter rules for crypto platforms and transactions. Tax collections are rising, and law enforcement is building capacity. Investor interest is shifting towards long-term allocation. New regulations are formalising real-world asset tokenisation. India is setting a global precedent in this evolving financial space. ...Less

A parliamentary panel has expressed alarm over thousands of crores invested in virtual digital assets. Th ...More

A parliamentary panel has expressed alarm over thousands of crores invested in virtual digital assets. The committee is studying global approaches to regulation. They advocate for continuing taxes on all such digital transactions. This move aims to ensure revenue stays within India. The panel will make recommendations after further deliberations. ...Less

India's virtual digital asset sector is now high risk. Intelligence reports reveal extensive illegal acti ...More

India's virtual digital asset sector is now high risk. Intelligence reports reveal extensive illegal activities including drug trafficking and money laundering. Authorities are increasing financial surveillance and enforcement. Tax collections from VDAs are rising. New rules require reporting entities to disclose crypto transactions. Officials propose linking crypto ownership with PAN and uniform valuation norms to strengthen oversight. ...Less

Low-risk investors can earn a fixed monthly income of Rs 9,250 from a Rs 15 lakh deposit in a joint Post ...More

Low-risk investors can earn a fixed monthly income of Rs 9,250 from a Rs 15 lakh deposit in a joint Post Office Monthly Income Scheme (POMIS) account. This government-backed scheme offers an annual interest rate of 7.4% for a 5-year tenure. While interest is taxable as per income slab, no TDS is deducted by the post office. ...Less

Kerala Vishu Bumper 2026 lottery result: The much-awaited Kerala Vishu Bumper BR-109 lottery results for ...More

Kerala Vishu Bumper 2026 lottery result: The much-awaited Kerala Vishu Bumper BR-109 lottery results for 23 May 2026 have been declared officially. Ticket holder of VB 135452 wins the Rs 12 crore first prize in the Vishu bumper 2026 lottery. Ticket holders of VA 616453, VC 348224, VE 649598, VB 327020, VD 252972, VG 3679998 wins Rs 1 crore second prize individually. Ticket holders of VA 238131, VB 149470, VC 133511, VD 575123, VE 363410, VG 48053 wins the Rs 10 lakh third prize individually today. Full list of winning numbers here. ...Less

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Homemakers earning under Rs 2 lakh from fixed deposits and mutual funds may not need to file ITR legally, ...More

Homemakers earning under Rs 2 lakh from fixed deposits and mutual funds may not need to file ITR legally, but voluntary nil return filing helps maintain records and claim TDS refunds. ...Less

Taxpayers can anticipate significant improvements in the TDS system and faster resolution of tax disputes ...More

Taxpayers can anticipate significant improvements in the TDS system and faster resolution of tax disputes. The Central Board of Direct Taxes' Central Action Plan for 2026-2027 outlines a roadmap for a more taxpayer-centric and technology-driven tax administration. This plan aims to streamline processes, enhance efficiency, and improve overall taxpayer services, leading to a more predictable and responsive tax governance framework. ...Less

Global economic turbulence is high. However, India's company earnings are performing well. Deepak Shenoy ...More

Global economic turbulence is high. However, India's company earnings are performing well. Deepak Shenoy advises investors to focus on fundamentals and maintain patience. Disciplined investing is key for retail investors. The market presents entry points for those with a five-year outlook. India needs to build domestic manufacturing to reduce dollar dependency. ...Less

India boasts world-class digital finance but lacks global consumer fintechs. Regulatory hurdles prevent i ...More

India boasts world-class digital finance but lacks global consumer fintechs. Regulatory hurdles prevent innovation, unlike in markets with flexible licensing. A shift towards graduated licenses and a principles-based approach is needed to foster new financial products and services. This will unlock India's potential in consumer finance and cross-border money movement. ...Less

A new Income-tax Act arrives on April 1, 2026. It brings fresh income tax forms and replaces many old one ...More

A new Income-tax Act arrives on April 1, 2026. It brings fresh income tax forms and replaces many old ones. Taxpayers will use these new forms for various reporting needs. Key changes include updated PAN application forms and new TDS certificates. This marks a significant shift in tax compliance procedures for individuals and businesses. ...Less

For senior citizens looking to maximize their savings, attractive fixed deposit rates are still within re ...More

For senior citizens looking to maximize their savings, attractive fixed deposit rates are still within reach. Suryoday Small Finance Bank proudly tops the list with an impressive 8.05% for a five-year commitment. Other small finance institutions are also stepping up with competitive offers. Remember, while it's tempting to chase high returns, prioritizing safety is key. ...Less

For a 5-year fixed deposit, the Post Office TD scheme currently offers a higher interest rate compared to ...More

For a 5-year fixed deposit, the Post Office TD scheme currently offers a higher interest rate compared to most public sector banks' 6%-6.25%. This translates to a significantly higher maturity amount on a Rs 2 lakh investment, with the Post Office TD potentially yielding nearly Rs 90,000 in returns. ...Less

Taxpayers, mark your calendars for May 2026! Crucial compliance deadlines loom, including TDS/TCS deposit ...More

Taxpayers, mark your calendars for May 2026! Crucial compliance deadlines loom, including TDS/TCS deposits for April and certificate issuances. Remember to file key statements and declarations under the Income-tax Act, 2025, to avoid penalties. Stay informed to meet these important dates. ...Less

Pune's Principal Chief Commissioner of Income Tax, Vivek Wadekar, announced the new Income Tax Act, 2025, ...More

Pune's Principal Chief Commissioner of Income Tax, Vivek Wadekar, announced the new Income Tax Act, 2025, aims to simplify compliance and foster transparency. Launched on April 1, 2026, the act features digital initiatives like the 'Kar Saathi' chatbot and 'Kar Setu' for taxpayer assistance. ...Less

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Interest rates may vary. If we talk about the post office, it offers a 6.7% interest rate on its RD, whil ...More

Interest rates may vary. If we talk about the post office, it offers a 6.7% interest rate on its RD, while its rate for the 5-year FD is 7.5%. Using both post office FD and RD for financial planning, you can create a nearly Rs 1 crore retirement corpus in 20 years even if you invest Rs 10 lakh in the FD and invest Rs 10,000 monthly in the RD. ...Less

Senior citizens seeking stable income and market-risk-free returns often turn to fixed deposits. Banks co ...More

Senior citizens seeking stable income and market-risk-free returns often turn to fixed deposits. Banks commonly offer enhanced interest rates for senior citizens, along with benefits like premature withdrawal, loan options, and sweep-in facilities. This article explores the highest FD rates available from PSU, private, and small finance banks for this demographic. ...Less

The Department of Posts now mandates quoting Permanent Account Number (PAN) for specified transactions. I ...More

The Department of Posts now mandates quoting Permanent Account Number (PAN) for specified transactions. Individuals without a PAN must submit Form No. 97 with complete details. These changes, part of the Income-tax Rules, 2026, also introduce Form 121 to replace Forms 15G and 15H for TDS exemption claims. ...Less

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Senior citizens can still secure fixed deposit (FD) interest rates up to 8.05% for a three-year term from ...More

Senior citizens can still secure fixed deposit (FD) interest rates up to 8.05% for a three-year term from select small finance banks, with a cap of Rs 3 crore. Banks deduct TDS on FD interest exceeding Rs 1 lakh annually. Senior citizens with zero tax liability can submit Form 15H to avoid this deduction. ...Less

An online game is any game played on a phone, laptop, or digital device, operated through software using ...More

An online game is any game played on a phone, laptop, or digital device, operated through software using the internet or any form of electronic communication. This definition ensures that almost every form of digital gaming falls within its scope. The real difference, and the real tax impact, begins when we look at how these games are classified. ...Less

An Amazon employee went viral on Grapevine after sharing their shock over a heavily taxed April payslip, ...More

An Amazon employee went viral on Grapevine after sharing their shock over a heavily taxed April payslip, revealing frustration at seeing a large portion of their salary, especially TDS, deducted despite being in the highest tax bracket. The UX/UI designer expressed feeling “punished for earning well,” questioning the value they receive in return given ongoing issues like poor infrastructure, flooding, pollution, and reliance on expensive private services such as healthcare. ...Less

Suvarna Keralam SK 51 Lottery Result (01/05/2026): Suvarna Keralam SK 51 weekly lottery conducted by the ...More

Suvarna Keralam SK 51 Lottery Result (01/05/2026): Suvarna Keralam SK 51 weekly lottery conducted by the Kerala State Lotteries Department has been postponed May 8, 2026 instead of May 1, 2026. The event will have one ticket holder coming out as the winner of the grand first prize of Rs 1 crore. ...Less

The Income Tax Department has introduced Form 141, a consolidated challan-cum-statement, merging four pre ...More

The Income Tax Department has introduced Form 141, a consolidated challan-cum-statement, merging four previous TDS forms. This new form simplifies TDS filing for various transactions including rent, property purchase, professional payments, and virtual digital asset transfers. It aims to enhance clarity and reduce duplication in reporting. ...Less

ET Wealth Reader's Query: I am the only earning member of my family. My company has given me a bonus of R ...More

ET Wealth Reader's Query: I am the only earning member of my family. My company has given me a bonus of Rs 2 lakh this year (after deducting TDS), which has been credited to my salary account. If I gift this amount to my wife and she puts it in a fixed deposit, will the interest earned be taxed in my hands or hers? ...Less

Many leading PSU banks offer the 444-day FD at attractive interest rates to general, senior and super sen ...More

Many leading PSU banks offer the 444-day FD at attractive interest rates to general, senior and super senior citizens. From State Bank of India’s ‘Amrit Vrishti’ scheme to similar offerings by Indian Bank, Bank of Baroda and Canara Bank, these 444-day FDs offer up to 6.60% interest rate to general citizens. ...Less

FCNR interest remains exempt from tax as long as the depositor qualifies as an NRI or resident but RNOR u ...More

FCNR interest remains exempt from tax as long as the depositor qualifies as an NRI or resident but RNOR under Section 10(15)(iv)(fa) of the Act. Once the individual becomes a resident and Ordinarily Resident (ROR), the FCNR interest becomes taxable in India from that date, even if the deposit was opened earlier, Sehgal explains. ...Less

Karunya Plus KN 621 Lottery Result (30/04/2026): Kerala State Lotteries Department conducts the high-stak ...More

Karunya Plus KN 621 Lottery Result (30/04/2026): Kerala State Lotteries Department conducts the high-stakes draw for the Karunya Plus KN 621 weekly lottery today, April 30, 2026. The event saw ticket holder of PD 180857 coming out as the winner of the grand first prize of Rs 1 crore. ...Less

New tax rules for Tax Year 2026-27 begin April 1, 2026. Key changes affect TDS on NRI property and TCS on ...More

New tax rules for Tax Year 2026-27 begin April 1, 2026. Key changes affect TDS on NRI property and TCS on overseas remittances for education. Interest on motor vehicle compensation is now tax-exempt. Small taxpayers get an easier process for lower TDS certificates. TDS on manpower supply is clarified. ...Less

Following a foiled attack at the White House Correspondents' Dinner, a top official has called a meeting ...More

Following a foiled attack at the White House Correspondents' Dinner, a top official has called a meeting with the Secret Service and DHS to review President Trump's security. The incident also highlighted the presidential line of succession, prompting discussions on whether the President and Vice President should attend the same public events. ...Less

People turning 60 at any point during the financial year can now claim senior citizen benefits for the fu ...More

People turning 60 at any point during the financial year can now claim senior citizen benefits for the full year while filing the new Form 121 to avoid TDS on interest and other incomes. Income tax experts in Gujarat advise filing early in April to prevent unnecessary deductions from the start. ...Less

NRIs must update their Indian bank accounts to NRE or NRO status to comply with FEMA regulations. Failing ...More

NRIs must update their Indian bank accounts to NRE or NRO status to comply with FEMA regulations. Failing to do so can result in significant penalties and operational issues. Understanding the differences between NRE and NRO accounts is crucial for managing finances effectively abroad. ...Less

Senior citizens can now secure fixed deposit interest rates as high as 8.05 percent for a five-year term. ...More

Senior citizens can now secure fixed deposit interest rates as high as 8.05 percent for a five-year term. Several banks are offering this attractive rate. Tax deducted at source applies if FD interest exceeds one lakh rupees annually. However, eligible senior citizens can submit Form 15H to avoid TDS deductions. This offers a significant opportunity for enhanced returns on savings. ...Less

India's crypto ecosystem is at a pivotal turning point with accelerating adoption across retail and insti ...More

India's crypto ecosystem is at a pivotal turning point with accelerating adoption across retail and institutional segments. Driven by Gen Z and family offices, the investor base, currently at 12 crore, could potentially double every two to three years. Enhanced security, transparency, and communication are key to future growth. ...Less

Navigating income tax deadlines for FY 2025-26 (AY 2026-27) is crucial to avoid penalties. The Income Tax ...More

Navigating income tax deadlines for FY 2025-26 (AY 2026-27) is crucial to avoid penalties. The Income Tax Department has set specific due dates based on taxpayer categories, with options for belated, revised, and updated returns to ensure compliance and correct any oversights. ...Less

Kerala Lottery Sthree Sakthi SS 517 Result today 28/04/2026: Kerala State Lotteries Department conducts t ...More

Kerala Lottery Sthree Sakthi SS 517 Result today 28/04/2026: Kerala State Lotteries Department conducts the high-stakes draw for the Sthree Sakthi SS 517 weekly lottery today, April 28, 2026. The event saw the ticket holder of ST 878851 coming out as the winner of the grand first prize of Rs 1 crore. ...Less

Fixed deposits are popular in India. However, Tax Deducted at Source on interest income reduces compoundi ...More

Fixed deposits are popular in India. However, Tax Deducted at Source on interest income reduces compounding growth. Forms 15G and 15H allow eligible individuals to declare no tax liability. This prevents TDS deductions, keeping interest invested. Over time, this can significantly boost maturity amounts. Submitting these forms annually is crucial for maximizing savings. ...Less

Bhagyathara BT-51 Lottery Result (27/04/2026): Kerala State Lotteries Department conducts the high-stakes ...More

Bhagyathara BT-51 Lottery Result (27/04/2026): Kerala State Lotteries Department conducts the high-stakes draw for the Bhagyathara BT-51 weekly lottery today, April 27, 2026. The event saw the ticket holder of BC 569038 coming out as the winner of the grand first prize of Rs 1 crore. ...Less

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Technical issues plaguing the income tax e-filing portal have prompted the CBDT to extend the deadline fo ...More

Technical issues plaguing the income tax e-filing portal have prompted the CBDT to extend the deadline for issuing TDS certificates. Employers, banks, and other deductors now have until March 31, 2026, to provide these crucial documents for the quarter ending December 2025. This move aims to alleviate genuine hardship faced by those responsible for tax deductions. ...Less