Utilities

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National Savings Recurring Deposit Account

5-Year Post Office Recurring Deposit Account (RD)

Interest payable, Rates, Periodicity etc.	Minimum Amount for opening of account and maximum balance that can be retained
From 01.04.2020, interest rates are as follows:- 5.8 % per annum (quarterly compounded)	Minimum INR 100/- per month or any amount in multiples of INR 10/-. No maximum limit.
Salient features including Tax Rebate
Account may be opened by (i) a single adult (ii) Joint Account (Maximum 3 adults) (iii) Minor above 10 years of age (iv) A guardian on behalf of a minor/Person of unsound mind Account can be opened by cash / Cheque and in case of Cheque the date of deposit shall be date of clearance of Cheque Nomination facility is available at the time of opening and also after opening of account Premature closure is allowed after three years from the date of opening of the account and interest at the rate applicable from time to time to the Post Office Savings Account shall be payable on such premature closure of account Account can be transferred from one post office to another Any number of accounts can be opened in any post office Subsequent deposit can be made up to 15th day of next month if account is opened up to 15th of a calendar month and up to last working day of next month if account is opened between 16th day and last working day of a calendar month If subsequent deposit is not made up to the prescribed day, a default fee is charged for each default, default fee @ 1 Rs for every 100 rupee shall be charged. After 4 regular defaults, the account becomes discontinued and can be revived in two months but if the same is not revived within this period, no further deposit can be made *If in any RD account, there is monthly default amount , the depositor has to first pay the defaulted monthly deposit with default fee and then pay the current month deposit. This will be applicable for both CBS and non CBS There is rebate on advance deposit of at least 6 installments, Rs. 10 for 6 month and Rs. 40 for 12 months Rebate will be paid for denomination of Rs. 100 Minor after attaining majority has to apply for conversion of the account in his name One loan up to 50% of the balance allowed after one year. It may be repaid in one lumpsum along with interest at the prescribed rate at any time during the currency of the account Protected Savings Scheme is applicable for the account of denomination Rs 100/- Online Deposit facility is available through Intra Operable Netbanking/Mobile Banking Online Deposit facility is available through IPPB Saving Account Date of maturity will be 5 years after date of opening. Account can be extended for further 5 year by giving application at account office

National Savings Time Deposit Account

Post Office Time Deposit Account (TD)

Interest payable, Rates, Periodicity etc.	Minimum Amount for opening of account and maximum balance that can be retained
Interest payable annually but calculated quarterly.	Minimum INR 1000/- and in multiple of 100. No maximum limit.

Interest rates From 01.04.2020 to 30.06.2020

Period	Rate
1yr.A/c	5.5%
2yr.A/c	5.5%
3yr.A/c	5.5%
5yr.A/c	6.7%

Salient features including Tax Rebate
.Account may be opened by (i) a single adult (ii) Joint Account (Maximum 3 adults) (iii) Minor above 10 yearsof age (iv) A guardian on behalf of a minor/Person of unsound mind Account can be opened by cash /Cheque and in case of Cheque the date of realization of cheque in Govt. account shall be date of opening of account Nomination facility is available at the time of opening and also after opening of account Account can be transferred from one post office to another Any number of accounts can be opened in any post office Single account can be converted into Joint and Vice Versa Minor after attaining majority has to apply for conversion of the account in his name. TD account can be extended by giving an application in account office Interest shall be payable annually, No additional interest shall be payable on the amount of interest that has become due for payment but not withdrawn by the account holder The annual interest may be credited to the savings account of the account holder at his option Premature encashment not allowed before expiry of 6 month, If closed between 6 month to 12 month from date of Opening, Post Office Saving Accounts interest rate will be payable The investment under 5 Years TD qualifies for the benefit of Section 80C of the Income Tax Act, 1961 from 1.4.2007. Online Account Opening facility is available through Intra Operable Netbanking/Mobile Banking

National Savings Monthly Income Account

Post Office Monthly Income Scheme Account (MIS)

Interest payable, Rates, Periodicity etc.	Minimum Amount for opening of account and maximum balance that can be retained
From 01.04.2020, interest rates are as follows:- 6.6 % per annum payable monthly.	In multiples of INR 1000/- Maximum investment limit is INR 4.5 lakh in single account and INR 9 lakh in joint account An individual can invest maximum INR 4.5 lakh in MIS (including his share in joint accounts) For calculation of share of an individual in joint account, each joint holder have equal share in each joint account.
Salient features including Tax Rebate
Account may be opened by (i) a single adult (ii) Joint Account (Maximum 3 adults) (iii) Minor above 10 years of age (iv) A guardian on behalf of a minor/Person of unsound mind. Account can be opened by cash/Cheque and in case of Cheque the date of realization of Cheque in Govt. account shall be date of opening of account Nomination facility is available at the time of opening and also after opening of account Account can be transferred from one post office to another. Any number of accounts can be opened in any post office subject to maximum investment limit by adding balance in all accounts (Rs. 4.5 Lakh) Single account can be converted into Joint and Vice Versa Minor after attaining majority has to apply for conversion of the account in his name Maturity period is 5 years from 1.12.2011 Interest can be drawn through auto credit into savings account standing at same post office,orECS./In case of MIS accounts standing at CBS Post offices, monthly interest can be credited into savings account standing at any CBS Post offices Can be prematurely en-cashed after one year but before 3 years at the discount of 2% of the deposit and after 3 years at the discount of 1% of the deposit. (Discount means deduction from the deposit.) A bonus of 5% on principal amount is admissible on maturity in respect of MIS accounts opened on or after 8.12.07 and up to 30.11.2011. No bonus is payable on the deposits made on or after 1.12.2011 Interest shall be payable to the account holder on completion of a month from the date of deposit If the interest payable every month is not claimed by the account holder such interest shall not earn any additional interest.

News Section

News

16 Sep 26

UPI Remains Free for P2P Transactions, 96% of Merchant Payments Unaffected

Calcutta HC Sets Aside 1.18 Crore GST Demand, Provides ITC Relief for Delay in Filing GSTR-3B

Delhi HC Sets Aside Section 148A(d) Order, Says Assessee Must Get Adequate Time to Respond

CBDT Notifies IIT Roorkee as Scientific Research Institution Under Section 45 of Income-tax Act, 2025

Finance Ministry Notifies No-Charge Rule for RuPay Debit Cards and UPI up to Rs 2000

15 Sep 26

GSTN Rolls Out Auto-Population Feature for Additional GST Registrations Under Same PAN

Patna HC Cancels ?1.25 Cr GST Demand, Says Tax on Non-GST Petroleum Products Beyond Authority’s Jurisdiction

Karnataka HC Rejects GST Dept. Plea to Revoke Anticipatory Bail for Failure to Appear

Finance Ministry Notifies No-Charge Rule for RuPay Debit Cards and UPI up to Rs 2000

14 Sep 26

MAT & AMT Under Income Tax Act 2025: Rates, Applicability and Credit Rules

Delhi HC Orders GST Authorities to Ensure Biometric Aadhaar Authentication for New GST Registrations

Delhi ITAT: Transfer Pricing Comparables Can’t Be Excluded Merely Using a Rigid Turnover Filter

Delhi HC: Successor AO Cannot Reopen IT Assessment Solely Due to a Different Opinion from Original AO

13 Sep 26

CBDT Allows Sharing of Income-Tax Data with Andhra Pradesh ITE&C to Identify Eligible Welfare Scheme Beneficiaries

A Guide to TDS on Commission & Brokerage u/s 393(1) [Earlier 194H]

12 Sep 26

Karnataka HC: TPO Can’t Discard Comparables Solely to Adopt Department’s Preferred Set

CBIC Defends GST Growth Calculation Method Amid Data Manipulation Claims

Rajkot ITAT Holds Entire Joint Property Purchase Cannot Be Taxed Without Identifying Assessee’s Share

11 Sep 26

Rajkot ITAT Holds Entire Joint Property Purchase Cannot Be Taxed Without Identifying Assessee’s Share

CBIC Defends GST Growth Calculation Method Amid Data Manipulation Claims

Big Change for Banking Records: New Bankers` Books Evidence Act Takes Effect from 1st Oct 2026

Delhi High Court Mandates Biometric Aadhaar Authentication for All New GST Registrations

10 Sep 26

ICAI Handbook on NRI Residential Status: Key Tax & FEMA Rules Explained

GST Council May Consider Flat 5% GST Rate for Renewable EPC Contracts

Tax Reforms Lead to 1.32 Crore Updated Returns and ?16,083 Crore in Additional Tax: CBDT Member

Chennai GSTAT to Examine Direct Availment of GST ITC by Transferee After Merger Without Section 18(3) & Rule 41 Compliance

09 Sep 26

GSTN Allows Filing of Appeals Against NIL/Zero Demand Orders in Form GST APL-01

ITAT Bengaluru Addresses ?1.23 Lakh Tax Demand Caused by Consultant’s Wrong Tax Regime Selection

Income from Other Sources Under Income Tax Act 2025: Key Rules, Taxable Incomes and Deductions

GST on Restaurant Bills: Chartered Accountant Explains How to Check GSTIN

08 Sep 26

Key GST Rules for E-Commerce Sellers: Marketplace vs D2C

Delhi HC Denies Release of 233g Gold Bars After Passenger’s Letter Acknowledged Oral SCN

E-Way Bill Generation Records 7.7% YoY Growth in August 2026

GSTN Enables Appeals for NIL or Zero Demand Orders on GST Portal

Income from Other Sources Under Income Tax Act 2025: Key Rules, Taxable Incomes and Deductions

07 Sep 26

ESOP Taxation Under Income Tax Act 2025: Rules for Employees and Start-Up Workers

NCLT Chennai Dismisses EY`s Rs 3.11 Crore GST Fee Plea, Says ICAI May Examine Arrangement

06 Sep 26

Madras HC Rules GST Authorities Can Block Electronic Credit Ledger to Recover Tax Dues

ITAT Jodhpur: TDS Credit Can’t Be Rejected Solely Due to Reflection in Trustee’s PAN

05 Sep 26

Assam Govt Notifies Circular No. 01/2026 Establishing GST Facilitation Centres for Taxpayers & DDOs

Madras HC Considers Screenshot Proof of Technical Glitch, Orders Portal Access for ITR Upload

Madras HC Rejects Bogus LTCG Allegation Based on Sharp Jump in Share Price, Restores Section 10(38) Exemption

04 Sep 26

Delhi ITAT Holds Entire Bogus Purchase Value Not Addable to Income, Limits Addition to 5% of Turnover

IT Department Introduces Form 1 for Reporting Undisclosed Foreign Assets Under FAST-DS 2026

Income Tax Portal Allows Taxpayers to File Corruption & Harassment Complaints Online

02 Sep 26

Gross GST Revenue August 2026 Collections Grow 14.8%, Refunds Rise 67.9%

Central Excise Notifications September 2026: Check Revised Duty Rates

August 2026 GST Collections Climb to Nearly ?2 Lakh Crore in Gross Revenue

ITR Filings Cross Record 7.8 Crore Mark for AY 2026-27, Says IT Department

Karnataka HC Allows Sale of Seized Goods Under GST Section 129(6) After Notice to Owner

Due Date Reminder

Jan	Feb	Mar	Apr	May	June
July	Aug	Sep	Oct	Nov	Dec
All

20 Sep 26 To add/amend particulars (other than GSTIN) in GSTR-1 of Aug. It can be filed after filing of GSTR-1 but before filing corresponding GSTR-3B.

20 Sep 26 Summary Return cum Payment of Tax for August by Monthly filers. (other than QRMP).

20 Sep 26 Monthly Return by persons outside India providing online information and data base access or retrieval services, for August.

25 Sep 26 Deposit of GST under QRMP scheme for August .

27 Sep 26 Filing of Financial Statements for FY 2025-26 by OPC Companies.

27 Sep 26 Submission of Cost Audit Report by Cost Auditor to the Board of Directors for FY 2025-26.

28 Sep 26 Return for August by persons with Unique Identification Number (UIN) like embassies etc to get refund under GST for goods and services purchased by them.

30 Sep 26 Transfer of unspent CSR amount to the CSR fund by All Companies whose CSR Expenditure is unspent as on 31st March and such amount is not marked for any ongoing project.

30 Sep 26 Quarter 2 – Board Meeting of All Companies

30 Sep 26 Annual General Meeting of All Companies.

30 Sep 26 KYC of All Directors (individuals) who hold DIN on 31st March, 2026.

30 Sep 26 Annual accounts along with the list of all principal places of business in India established by a foreign company (Branch / Liaison /Project Office)

30 Sep 26 Deposit of TDS on payment made u/s 393(1) [Table Sl. No. 2(i), 3(i), 6(ii) & 8(vi)] for purchase of property, payment of Rent more than 50,000 pm by individual or HUF (not liable to tax audit) where lease has terminated, certain other payments made by

30 Sep 26 Filing of Tax Audit Report where due date of ITR is 31 Oct.

30 Sep 26 Filing of MAT/AMT Audit Report etc. where due date of ITR is 31 Oct.

30 Sep 26 Filing of Audit Report u/s 80JJAA(2) for additional employment where due date of ITR is 31 Oct.

30 Sep 26 Filing of other Audit Reports , where due date of ITR is 31 Oct.

30 Sep 26 Application for exercising option under Explanation to section 11(1) to apply income of previous year in the next year or in future, if ITR due date is Nov 30.?

30 Sep 26 Filing of Statement to accumulate income for future application u/s 10(21) or 11(1), if ITR due date is Nov 30.?

30 Sep 26 Filing of Audit report by a fund or trust or institution or any university or other educational institution or any hospital or other medical institution?

30 Sep 26 Payment of membership fee for 2025-26 by ICAI Members.

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