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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

01 Apr 25

ITAT Indore: Unexplained Cash Credit Addition Invalid After Rejection of Books of Accounts

Orissa HC Orders Revival of Cancelled Registration Upon Full Dues GST Payment

Rajasthan High Court: Foreign Income Used to Buy Land in India is Not Automatically Taxable

CBDT Circular No. 05/2025: Waiver of Interest on TDS & TCS Delays Due to Technical Glitches

31 Mar 25

CBDT Amends Tax Audit Report (Form 3CD) with Key Changes Effective 1st April 2025

Just few days before deadline govt amends GST Amnesty Scheme under Section 128A to give relief to these GST registered taxpayers

New Tax Rates, UPI And GST: These Things Will Change Starting April 1, 2025

30 Mar 25

CBIC Issues GST Notification 11/2025 – Central Tax for Rule 164 Amendment

GST Circular No. 248/2025: CBIC Clarifies Benefit Availment U/S 128A

29 Mar 25

CBIC Clarifies GST Rates for ‘Specified Premises’: 18% with ITC, 5% without ITC

Supreme Court Directs CBIC to Set Practical Deadlines for Fixing Errors in GST Returns

27 Mar 25

Delhi Budget 2025: The Major Takeaways from Rekha Gupta’s ?1 Lakh Crore Plan for FY26 in the BJP Era

Finance Bill 2025 Passed in Lok Sabha with 35 Amendments

Kerala HC: Contractor Not Permitted to Claim Additional GST If Rates Are Inclusive

Goa CM Pramod Sawant Appoints GoM Convenor for GST Revenue Analysis

Kerala HC: Contractor Not Permitted to Claim Additional GST If Rates Are Inclusive

26 Mar 25

Star Health Offices Receive INR 49 Crore GST Demand Order Across Multiple States

Govt Launches MSME TEAM Initiative to Boost E-Commerce Adoption via ONDC

ITAT Raipur Partly Deletes INR 3.5 Lakh Addition on Demonetization Cash Deposit, Citing CBDT Instruction No. 03/2017

SC Allows NFRA to Initiate Disciplinary Action Against CA But Has Not Passed the Final Order

Karnataka HC Rejects ITC Blocking Under GST Rule 86A Due to Lack of Independent Justification

25 Mar 25

Simple-to-Learn ISD Mechanism Under GST with Same PAN

Pune ITAT Condones 38-Day Delay in Appeal Filing Due to Change in Tax Consultant

GSTN Assures Swift Resolution Amid Hurdles in Filing GST Waiver Applications

Issue in filing applications (SPL 01/SPL 02) under waiver scheme

24 Mar 25

New GST rules from April 1: What changes for businesses

GST relief on insurance likely as IRDAI on board; GoM to meet in April

GST Officials Step Up Drive To Register More Traders Under Tax Regime

GST on insurance may be slashed to 5%

23 Mar 25

Kerala HC Confirms Joint Commissioner’s Jurisdiction to Act on Post-Remand Assessment Under KVAT Act

Kerala HC: Goods Carriage Vehicles Cannot Be Reclassified as Construction Equipment for One-Time Tax

22 Mar 25

Karnataka AAAR: No GST Levy on Additional Surcharges for Open Access Power Consumers

56th GST Council May Unify Tax on Commercial Drones, Reducing it from 28% to 5% at the Upcoming Meeting

Gujarat High Court Halts GST Proceedings Against State Medical Councils

18 Mar 25

CBDT Issues Revised Guidelines for Compounding of Offences Under Income Tax Act, 1961

Jaipur ITAT: Retail Business Gross Deposits Taxable at 8% U/S 44AD, Not Undisclosed Income

AP High Court: GST Notice Under Rule 142(1)(A) Mandatory Before SCN

Jharkhand HC: Tax Authorities Must Follow Due Process; Penalized for Violating Natural Justice

17 Mar 25

Why the taxman will now pause before making customs or GST arrests

GST Registration in UP: Biometric Aadhaar Authentication & Document Verification Made Mandatory

16 Mar 25

Daily Wage Worker Gets Rs 22.86 Lakh GST Demand Notice

Income Tax Officer Caught Taking Bribe, Posed as Another Officer to Extort Elderly Taxpayer

15 Mar 25

How to Compare IMS Data with the ITC Register via Gen GST

Tax Year vs. FY: Key Changes in the New IT Bill 2025

Delhi HC: Retrospective GST Registration Cancellation Invalid Without Clear Show Cause Notice

14 Mar 25

Madras HC: IGST Refund Claim Valid Alongside Duty Drawback Under Sections 74 & 75

Gauhati HC Orders Reduction of GST on Fruit Drinks from 28% to 12%

Delhi ITAT: Addition of ?26.35 Lakh Disallowed, Revenue’s Acceptance of Books

13 Mar 25

Kolkata ITAT Sets Aside CIT(A) Order on Scheduled Tribe Doctor’s Tax Exemption Claim U/S 10(26)

CBIC Extended SCN and Order Deadlines; Bombay High Court Stays Garnishee GST Notice

Dehradun ITAT Sets Aside 12AB Tax Exemption Rejection, Orders New Hearing

Due Date Reminder

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

07 Apr 25 Payment of TCS collected in March. In case of government offices where : (a) TDS is deposited by challan, 7th April is the last date to deposit TDS. (b) TDS/TCS is paid by book entry, same shall be paid on the same day on which tax is deducted or collected.

07 Apr 25 Return of External Commercial Borrowings for March.

07 Apr 25 Payment of Equalization levy (Google Tax) charged on specified digital services during March.

10 Apr 25 Monthly Return by Tax Deductors for March.

10 Apr 25 Monthly Return by e-commerce operators for March.

11 Apr 25 Monthly Return of Outward Supplies for March.

13 Apr 25 Quarterly Return of Outward Supplies for January-March.

13 Apr 25 Monthly Return by Non-resident taxable person for March.

13 Apr 25 Monthly Return of Input Service Distributor for March.

14 Apr 25 Issue of TDS Certificate for tax deducted u/s 194-IA on payment made for purchase of property in February.

14 Apr 25 Issue of TDS Certificate for tax deducted on rent above 50,000 pm by certain individuals/HUF under Section 194-IB where lease has terminated in February.

14 Apr 25 Issue of TDS Certificate for tax deducted u/s 194M on certain payments by individual/HUF in February.

14 Apr 25 Issue of TDS Certificate for tax deducted u/s 194S on Virtual Digital Assets in February.

15 Apr 25 E-Payment of PF for March.

15 Apr 25 Payment of ESI for March

15 Apr 25 Upload of Statement of Foreign Remittances by banks and other authorised dealers for January-March.

18 Apr 25 Payment of GST by Composition taxpayers for January-March .

20 Apr 25 Monthly Return by persons outside India providing online information and data base access or retrieval services, for March.

20 Apr 25 Add/amend particulars (other than GSTIN) in GSTR-1 of March. It can be filed after filing of GSTR-1 but before filing corresponding GSTR-3B.

20 Apr 25 Summary Return cum Payment of Tax for March by Monthly filers. (other than QRMP).

22 Apr 25 Add/amend particulars (other than GSTIN) in GSTR-1 of Mar quarter by Quarterly filers in Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, the Union territories of Daman and Diu and Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands or Lakshadweep. . It can be filed after filing of GSTR-1 but before filing corresponding GSTR-3B.

22 Apr 25 Summary Return of January-March quarter by Quarterly filers in Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, the Union territories of Daman and Diu and Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands or Lakshadweep.

24 Apr 25 Summary Return of January-March quarter by Quarterly filers in Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand or Odisha, the Union territories of Jammu and Kashmir, Ladakh,Chandigarh or Delhi.

25 Apr 25 Half yearly Details of goods/capital goods sent to & from job worker for October -March for turnover above 5 cr.

25 Apr 25 Yearly Details of goods/capital goods sent to & from job worker for April-March for turnover upto 5 cr.

28 Apr 25 Return for March by persons with Unique Identification Number (UIN) like embassies etc to get refund under GST for goods and services purchased by them.

30 Apr 25 Taxpayers with Turnover upto Rs 5 Crores in 2023-24 can opt in or opt out of QRMP Scheme from April-June quarter. Those already availing the scheme not required to reapply.

30 Apr 25 Summary of Outward & Inward supplies for FY 24-25 by Composition taxpayer.

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