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Tag Archives: fixed deposit income tax

FD LIMIT in BANK in 2024 I Avoid INCOME TAX NOTICE I MAX Fixed Deposit LIMIT I

By CA Satbir Singh | February 13, 2024
0 Comment

FD LIMIT in BANK in 2024 I Avoid INCOME TAX NOTICE I MAX Fixed Deposit LIMIT I

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Recent Posts

  • IMPORTANT INCOME TAX CASE LAWS 29.09.2025
  • IMPORTANT GST CASE LAWS 29.09.2025
  • No penalty can be levied on a tax demand that arises purely from the deeming fiction of Section 56(2)(x) of the Income-tax Act, 1961.
  • “Purchase” for a 54F exemption means making the investment, not just the final registration of the sale deed within the prescribed time.
  • A search assessment requires incriminating material, not just regular books of account.
  • An ad hoc disallowance of a fully vouched and verified business expenditure is arbitrary and legally unsustainable.
  • A lumpsum payment in lieu of pension is exempt, even if not on retirement.
  • A taxpayer must be given a reasonable time to procure supporting documents from a group entity before an expense claim is disallowed.
  • A 54F exemption is allowed if construction is delayed for reasons beyond control.
  • Reassessment notices must be issued under the faceless scheme, not in physical form.

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