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RBI lowers interest rates for unclaimed fixed deposits

RBI has made changes in the interest rates rules of fixed deposits (FD). According to the new rule, if the fixed deposit matures and...

CBDT grants further relaxation in e-filing of Income Tax Forms 15CA/15CB

As per the Income-tax Act, 1961, there is a requirement to furnish Form 15CA/15CB electronically. Presently, taxpayers upload the Form 15CA, along with the...

NITI Aayog suggests 100% IT exemption for donations

NITI Aayog, set up by the government for transforming India’s development agenda, submits its report on the not-for-profit hospital model in India. It has...

TDS alert! New rules to take effect from today: Everything you need to know

One of the most important income tax changes that will come into effect from July 1 in India is the change in the rules...

CBDT extends due date of various compliances and announces tax exemption for expenditure on COVID-19

The Government has granted a further extension of timelines of compliances under the Income Tax Act. It has also announced tax exemption for expenditure...

Finance Ministry interaction with tax professionals, other stakeholders and Infosys on issues in new Income Tax Portal

A meeting was held between senior officials of the Finance Ministry and Infosys on 22.06.2021 on issues in the new Income Tax Portal. The...

CBDT issues functionality for Compliance Check for Sections 206AB & 206CCA

CBDT (Central Board of Direct Taxes) has issued a functionality to verify whether the Vendors have filed a tax return for compliance with Section...

MSME Extends Validity of Udyog Aadhaar Memorandum from 31st March 2021 to 31st December 2021

Ministry of Micro, Small and Medium Enterprises Extends Validity of Udyog Aadhaar Memorandum from 31st March 2021 to 31st December 2021 Ministry of Micro,...

NPPA asks drug firms to cut prices in wake of GST rate reduction

Drug pricing regulator NPPA has asked pharmaceutical companies and medical device makers to reduce prices on products on which the GST has been lowered...

NPS Account Holders Can Now Withdraw Corpus of up to 5 lakh on Exit

The Pension Fund Regulatory and Development Authority (PFRDA) approves the appointment of individuals working as agents or business correspondents amidst their existing business structure...

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