The Income Tax Appellate Tribunal (ITAT) has ruled that tax authorities cannot add income under Section 68 of the Income-tax Act simply based on statements recorded during departmental inquiries. The tribunal said that if a taxpayer is not given the chance to cross-examine the witnesses, such statements cannot be used as valid evidence. The ruling … Read more
The Central Board of Direct Taxes (CBDT) will roll out only 54 of the 190 forms required under the new Income-tax Act, 2025 when the law comes into effect on April 1. This update was shared by officials from the Department of Revenue (DoR) with the Parliamentary Standing Committee on Finance. According to the department, … Read more
The ongoing tensions between Iran, Israel and the United States in West Asia are now starting to affect everyday life in India. One area where the impact is being felt is the LPG supply chain. Because of possible supply disruptions, many people are quickly booking their LPG cylinders. If you have already booked a cylinder … Read more
Today, the Aadhaar card has become one of the most important documents in India. It is required for many everyday tasks such as opening a bank account, getting a SIM card, applying for government schemes, or even checking into a hotel. However, there are times when you suddenly need your Aadhaar card but don’t have … Read more
Today, most people prefer digital payments instead of cash. From buying groceries to paying bills, many transactions are now done through UPI. Apps like PhonePe, Google Pay and BHIM have made sending money quick and convenient. However, sometimes in a hurry or due to a small mistake, money gets transferred to the wrong account. If … Read more
Millions of bank customers across Indiister of India, informed Parliament that about 72 crore Basic Savings Bank Deposit Accounts (BSBDAs) are currently active in the country. These accounts do not require customers to maintain a minimum balance. The category also includes accounts opened under the Pradhan Mantri Jan Dhan Yojana. The main goal of these … Read more
The Canara Bank is one of India’s major public sector banks and offers attractive interest rates on fixed deposit (FD) accounts. Customers can earn interest ranging from 3.00% to 7.00%, depending on the tenure of the deposit. An FD account with Canara Bank can be opened for a minimum period of 7 days and a … Read more
The Apple iPhone 16 is currently available at a big discount, making it a great time for buyers who were waiting for the price to drop. Launched in 2024, this smartphone is still very popular and continues to sell well. Right now, the phone is being offered at a reduced price on Reliance Digital, allowing … Read more
The Government of Bihar has launched a special scheme to help poor families get relief from electricity expenses. Under the Kutir Jyoti Yojana, the government will install free solar panels on the rooftops of eligible households. This scheme is mainly for BPL (Below Poverty Line) families and people who already have Kutir Jyoti electricity connections. … Read more
Many people in India prefer safe investment options where their money is protected and they get guaranteed returns. One such option is the savings schemes offered by India Post. The post office currently offers attractive interest rates on its Time Deposit (TD) schemes, which work just like a bank fixed deposit. In some cases, the … Read more
The shares of Frontier Springs, a company connected to the auto components and equipment industry, saw a strong rise on Wednesday. The company’s shares increased by about 5 percent and reached Rs 4650 on the BSE. Over the past year, Frontier Springs’ shares have gained more than 140 percent. In the last five years, the … Read more