RBI Floats Proposal for Sub-7 Day Term Deposits: Awaits Feedback From Banks
The Reserve Bank of India (RBI) is considering a proposal that would permit banks to provide shorter timelines on term deposits. The changes to the...
![Supreme Court remands Income Tax Matter for Determination of Purpose of Short Term FD Accounts, Nature Of Income [Read Judgement]](https://www.taxscan.in/wp-content/uploads/2024/10/Supreme-Court-Income-Tax-Matter-Determination-of-Purpose-FD-Accounts-Nature-Of-Income-TAXSCAN.jpg "Supreme Court remands Income Tax Matter for Determination of Purpose of Short Term FD Accounts, Nature Of Income [Read Judgement]")
![Exemption of Interest from Surplus Funds in Bank FDs allowable u/s 10AA of Income Tax Act for Exporters in SEZ: Karnataka HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Income-Tax-Income-Tax-Act-Karnataka-High-Court-SEZ-Exports-TAXSCAN.jpg "Exemption of Interest from Surplus Funds in Bank FDs allowable u/s 10AA of Income Tax Act for Exporters in SEZ: Karnataka HC [Read Order]")
Interest Income from Fixed Deposits Can be Set Off against Property Maintenance Expenses: ITAT [Read Order]
The Ahmedabad bench of Income Tax Appellate Tribunal (ITAT) recently held in a case that interest income from fixed deposits can be set off against property maintenance expenses. The assessee/...
![Interest Income from Fixed Deposits Can be Set Off against Property Maintenance Expenses: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Tax-Saver-Fixed-Deposit-Tax-Saver-Fixed-Deposit-Tax-Tax-Saving-Saving-Top-10-Tax-Saving-FDs-in-India-Taxscan.jpg "Interest Income from Fixed Deposits Can be Set Off against Property Maintenance Expenses: ITAT [Read Order]")
Principle of Mutuality not Applicable on Income Earned by Clubs through its Assets and Resources, from Persons who are not Members, Income Tax Applicable: Supreme Court [Read Judgement]
In a major decision the Supreme Court has ruled that the principle of mutuality is not applicable on income earned by clubs through its assets and resources, from persons who are not members and...
![Principle of Mutuality not Applicable on Income Earned by Clubs through its Assets and Resources, from Persons who are not Members, Income Tax Applicable: Supreme Court [Read Judgement]](https://www.taxscan.in/wp-content/uploads/2023/08/Principle-Mutuality-Income-Clubs-Assets-Persons-Income-Tax-Supreme-Court-TAXSCAN.jpg "Principle of Mutuality not Applicable on Income Earned by Clubs through its Assets and Resources, from Persons who are not Members, Income Tax Applicable: Supreme Court [Read Judgement]")
Interest Income earned on Fixed Deposits with Cooperative/Scheduled Bank eligible for Deduction u/s 80P(2)(a)(i) of Income Tax Act: ITAT [Read Order]
The Pune bench of Income Tax Appellate Tribunal (ITAT) has recently held that interest income earned on fixed deposits with the cooperative /scheduled bank is eligible for deduction under Section 80P...
![Interest Income earned on Fixed Deposits with Cooperative/Scheduled Bank eligible for Deduction u/s 80P(2)(a)(i) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Interest-Income-earned-on-Fixed-Deposits-with-Cooperative-Scheduled-Bank-eligible-for-Deduction-Income-Tax-Act-ITAT-TAXSCAN.jpg "Interest Income earned on Fixed Deposits with Cooperative/Scheduled Bank eligible for Deduction u/s 80P(2)(a)(i) of Income Tax Act: ITAT [Read Order]")
