The Prime Minister’s Jeevan Jyoti Bima Yojana (PMJJBY) is a flagship programme of the NDA government, which was introduced by PM Narendra Modi on May 9, 2015. This life insurance scheme, offered by the central government, provides yearly renewable coverage for death resulting from any cause. According to a statement released on social media platform … Read more
The July 31 deadline for filing your income tax returns (ITR) is fast approaching. Taxpayers can now pay their taxes online through the e-filing portal. If your tax liability exceeds the TDS (tax deducted at source) paid during the year, you’ll need to settle the outstanding amount. This can be done online through any of … Read more
Taxpayers should note that high-value cash transactions exceeding a specified limit are subject to monitoring by the Income Tax Department. Failure to disclose such transactions in Income Tax Returns (ITR) filing could result in a notification from the tax authorities. Noteworthy cash transactions, such as bank deposits, mutual fund investments, property dealings, and share trading, … Read more
I generally maintain a balance of around Rs 5-6 lakh in my savings bank account. I have also recently invested in a bank FD for Rs 5 lakh for three years. Please let me know whether my bank FD interest or savings bank interest will attract any TDS provisions. Ankit Reply by Rajiv Bajaj, Chairman … Read more