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

20 Mar 26

Net Direct Tax Collections Rise 7.19% to Rs 22.8 Lakh Crore in FY26

Finance Ministry Revises Monetary Threshold in FEMA Enforcement Cases: Key Changes Notified

Gujarat HC: GST ITC as a Transferable Business Asset Can’t Be Denied Due to State-Wise Registrations

GST Advisory 653: Confirmation of “Tax Liability Breakup, As Applicable” in GSTR-3B

Bajaj Electricals Limited Discloses ?3.62 Crore GST Demand Upheld in Adverse Appeal Order

Delhi HC Allows Consolidation of GST SCNs Covering Multiple FY U/S 73 & 74

19 Mar 26

CBDT Corrects Income Tax Amendment Rules 2026 Name via Corrigendum

RBI Launches DLA Directory, Tightens Norms Against Illegal Loan Apps

Major GST Reform: Goa Holds Property Owners Accountable for Event Taxes

Return Preparation & File Validation Utility vs TDS Software

CBDT Renames IT Amendment Rules, 2026 as IT (First Amendment) Rules, 2026

18 Mar 26

GSTAT Instructions (F. No. 125/2025-26): GST Appeals and Required Documents on the Portal

Gauhati HC: Form GST DRC-01 Is Supplementary and Can’t Substitute Issuance U/S 73(1)

How ROC Software Manages AGM, EGM and Board Meetings

Supreme Court: Clerical Mistakes in GST Returns Not a Valid Reason to Deny Export Refunds

MP Raghav Chadha Suggests Joint ITR Filing Option for Married Couples in Parliament

17 Mar 26

Maharashtra Allows PAN-Based Profession Tax Payment Amid MahaGST Portal Issues

GST Portal Requires Confirmation of "Tax Liability Breakup" in GSTR-3B from Feb 2026

MH Tax Department Grants Relief on PT Registration and Filing Due to GST Portal Glitches

IT Dept Asks Taxpayers to Ignore Erroneous Emails on ‘Significant Transactions’ and Advance Tax

Bengaluru GST Dept Warns About Fake Tax Officials Through Trade Notice 02/2026

16 Mar 26

GSTN Issues Advisory on Pre-Deposit Payment While Filing Appeals Before First Appellate Authority

Income Tax Department Clarifies `Significant Transactions` Emails Sent During Advance Tax e-Campaign for AY 2026-27

Centre Renames Personal Income Tax as Non-Corporate Tax from FY 2025-26

15 Mar 26

ROC Bangalore Imposes Penalty on Indo-MIM Limited, Directors for Absence of Resident Director

Gujarat AAR Holds Advance Received by Assessee as ‘Consideration’ Under GST

How Balance Sheet Software Works with Trial Group Master

14 Mar 26

Gujarat AAR Holds Advance Received by Assessee as ‘Consideration’ Under GST

WB AAR: GST Exemption Allowed on Waste Transport Services Provided to Municipal Corporation as Pure Services

Karnataka HC: Solar Inverters Eligible for 5% Concessional GST, Quashes ?120 Cr Tax Demand

12 Mar 26

Govt Raises Collateral-Free Farm Loan Limit to Rs 2 Lakh to Boost Agricultural Credit

E-Way Bill Generation Rises 18.8% YoY to 132.6 Million in February 2026

Madras HC Permits to File a Fresh Appeal as GST SCN Was Uploaded Only on Portal

Businesses Face GST Registration Suspension After Welcome Kit Delivery Failure

Gauhati HC Allows Restoration of Cancelled GST Registration After Delay Due to Medical Emergency

11 Mar 26

ICAI Releases Handbook on Key Compliances and Exemptions for Private Limited Companies

Bombay HC Cancels GST DGGI Seizure, Orders ?1 Cr Cash Refund

How TDS Software Merges Duplicate Deductee Master Data

Bombay HC Quashes GST Bank Account Attachment Orders Under MGST Act for Lack of Proper Reasons

09 Mar 26

CIC Asks Income Tax Department to Fix TDS Mismatch Process, Protect Honest Taxpayers

Income Tax Rules 2026: Financial Institutions Must Report Crypto and Digital Currency Holdings

08 Mar 26

Finance Ministry Appoints Ms. Krati Nigam as CGST Joint Commissioner in GST Authority Amendment

CIC Asks Income Tax Department to Fix TDS Mismatch Process, Protect Honest Taxpayers

Allahabad HC Examines Criminal Proceedings Over Cash Transactions Exceeding ?2 Lakh U/S 269ST

07 Mar 26

Chhattisgarh HC Rejects Writ Petition Seeking Refund of Plot Allotment Money After GST Demand

Big Relief to Dell India: Allahabad HC Stays ?13 Cr GST Demand Order Over Jurisdictional Error

Allahabad HC Quashes ?1.02 Crore GST Demand; Interest Not Quantified in SCN Cannot Be Levied Later

06 Mar 26

Delhi (PB) GSTAT Dismisses GST Profiteering Case After ITC Benefit Found to Be Nil

Bombay HC Sets Aside GST SCN U/S 74 for Clubbing Multiple FY in a Single Notice

05 Mar 26

New Draft Format for TDS/TCS Book Adjustment: Full Details, Applicability & Compliance Guide

Madras HC Quashes GST Cancellation for 6-Month Non-Filing, Cites Health and Financial Hardship

Ahmedabad ITAT Sets Aside Sec 271(1)(c) Penalty on Axis Bank Over Bona Fide Accounting Method

ROC Gwalior Imposes ?1.76 Lakh Penalty on Company and Directors for Non-Filing u/s 137

Due Date Reminder

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

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

20 Mar 26 Add/amend particulars (other than GSTIN) in GSTR-1 of February. It can be filed after filing of GSTR-1 but before filing corresponding GSTR-3B.

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

25 Mar 26 Deposit of GST of February under QRMP scheme.

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

30 Mar 26 Deposit of TDS on payment made for purchase of property in February.

30 Mar 26 Deposit of TDS u/s 194-IB @ 5% on total payment of Rent more than 50,000 pm by individual or HUF (not liable to tax audit) during FY 25-26 where lease has terminated in February (Else TDS is to be deposited on annual basis by 30 April of next year.)

30 Mar 26 Deposit of TDS u/s 194M for February.

30 Mar 26 Deposit of TDS on Virtual Digital Assets u/s 194S for February.

31 Mar 26 Complete CPE Hours for Calendar year 2025. Update Unstructured CPE hours details like reading of ICAI journal at https://cpeapp.icai.org.

31 Mar 26 Opt for Composition scheme for FY 2026-27. Existing ones are not required to apply again.

31 Mar 26 Online Application for Letter of Undertaking (LUT) for Exports & Supplies to SEZ without payment of tax in FY 2026-27.

31 Mar 26 For FY 26-27, GTA can change from Forward Charge mechanism to RCM or vice-versa by e-filing necessary declaration.

31 Mar 26 Calculation of Aggregate Turnover of F.Y. 25-26 for various compliances related to F.Y. 26-27 like for QRMP scheme, Composition scheme, E-invoice applicability etc.

31 Mar 26 Payment of balance Advance Income Tax by ALL to save interest u/s 234B.

31 Mar 26 Payment of life insurance premium, deposit of PPF etc. for saving tax of FY 25-26 under old regime.

31 Mar 26 Uploading of Statement of foreign income offered to tax and tax deducted or paid on such income in previous year 2024-25, to claim foreign tax credit if ITR furnished within the time specified under section 139(1) or section 139(4).

31 Mar 26 Pay Outstanding dues of Micro & Small Enterprises of FY 25-26 to avoid disallowance u/s 43B. No Relief of payment till due date of ITR.

31 Mar 26 Updated ITR for AY 2023-24 with 50% of aggregate tax and interest payable.

31 Mar 26 Updated ITR for AY 2024-25 with 25% of aggregate tax and interest payable.

31 Mar 26 "File Correction statements of FY 2018-19: Quarter 4 only, FY 2019-20 to FY 2022-23: All quarters and FY 2023-24: Quarters 1 to 3."

31 Mar 26 Complete CPE Hours for Calendar year 2025. Update Unstructured CPE hours details like reading of ICAI journal at https://cpeapp.icai.org.

31 Mar 26 Quarter 4 – Board Meeting of All Companies

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