Tax Saving Archives - Tax Heal https://www.taxheal.com/tag/tax-saving Complete Guide for Income Tax and GST in India Sun, 12 Apr 2026 05:13:13 +0000 en-US hourly 1 https://wordpress.org/?v=7.0.3 List of Deductions Allowed in New Tax Regime in AY 2025-26 and AY 2026-27 https://www.taxheal.com/list-of-deductions-allowed-in-new-tax-regime.html Tue, 18 Feb 2025 12:42:57 +0000 https://www.taxheal.com/?p=99414 List of Deductions Allowed in New Tax Regime in Section 115BAC of Income Tax Act There are certain Deductions Allowed in New Tax Regime in FY 2024-25 (AY 2025-26) and FY 2025-26 (AY 2026-27) Refer Also List of Deductions Allowed in New Tax Regime in AY 2026-27 Comparison of exemption/deductions available under the old tax… Read More »

]]> List of Deductions Allowed in New Tax Regime in

Section 115BAC of Income Tax Act

There are certain Deductions Allowed in New Tax Regime in FY 2024-25 (AY 2025-26) and FY 2025-26 (AY 2026-27)

Refer Also List of Deductions Allowed in New Tax Regime in AY 2026-27

Comparison of exemption/deductions available under the old tax regime and new tax regime of Section 115BAC

Here’s the updated table incorporating the additional list, with changes highlighted:

Refer also List of Deductions Allowed in New Tax Regime in AY 2026-27

Particulars Old tax regime New tax regime
Standard Deduction [Section 16(ia)] Available

Upto

Rs 50000

 Available

Upto

Rs 75000
Leave Travel concession [Section 10(5)] Available Not Available
House Rent Allowance [Section 10(13A)] Available Not Available
Children Education Allowance [Section 10(14)] Available Not Available
Hostel Expenditure Allowance [Section 10(14)] Available Not Available
Official and personal allowances (other than those as may be prescribed) [Section 10(14)] Available Not Available
Allowances to MPs/MLAs [Section 10(17)] Available Not Available
Entertainment Allowance [Section 16((ii)] Available Not Available
Professional Tax [Section 16(iii)] Available Not Available
Interest on housing loan for self-occupied house property [Section 24(b)] Available Not Available
Deduction for Health Insurance Premium [Section 80D] Available Not Available
Deduction under Sections 80C to 80U other than specified under Section 80CCD(2), and Section 80CCH(2) [Chapter VI-A] Available Not Available (NPS of employer Contribution and Agniveer Corpus fund conribtution of govt allowed).  Employees Own Contribtuion to NPS is not allowed, Similary Employee own contribution to Agniveer Corpus fund not allowed
Set-off of any loss under the head “Income from house property” with any other head of income Available Not Available
Exemptions or deductions for allowances or perquisites provided under any other law for the time being in force Available Not Available

 

Income not Taxable in New Tax Regime

  • Transport allowance if provided to specially-abled persons.
  • A conveyance allowance was received as compensation for the expenditure incurred as a part of the employment.
  • Allowance is received to meet the expenses of tour, transfer, or travel.
  • Daily allowance received in order to meet the ordinary expenses due to his absence from the place of duty.
  • Perquisites received for official purposes.
  • Exemption on voluntary retirement under section 10(10C), leave encashment u/s 10(10AA) and gratuity under section 10(10).
  • Gifts received upto Rs.50,000 in relevant Assessment Year.

List of other Deductions Allowed in New Tax Regime

A) National Pension Scheme (NPS)  -u/s 80CCD(2)

B) Contribution to Agniveer Corpus Fund u/s 80CCH(2)

Here is the detailed explanations on above deductions

A) Deduction for  National Pension Scheme (NPS)-u/s 80CCD(2)

This is allowed in Section 80CCD(2) of income tax Act It’s an important part of understanding tax benefits related to the National Pension Scheme (NPS). Here’s a breakdown:

What is Section 80CCD(2)?

Section 80CCD(2) of the Income Tax Act deals with deductions for contributions made by your employer to your National Pension Scheme (NPS) account. This is a separate benefit in addition to the deductions you can claim for your own contributions to NPS under Section 80CCD(1).

Key Points about 80CCD(2):

  • Employer’s Contribution: This deduction is specifically for the amount your employer contributes to your NPS account.It’s a part of your compensation package but is directly deposited into your NPS account.
  • For Salaried Individuals: This deduction is only available to salaried employees. Self-employed individuals cannot claim deductions under 80CCD(2).
  • Limit: The maximum amount you can claim under this section is:
    • 14% of your salary (basic + dearness allowance) for government employees or Private Employes

How it Works:

  1. Your Employer Contributes: Your employer makes regular contributions to your NPS account.
  2. Tax Deduction: At the time of filing your income tax return, you can claim a deduction under Section 80CCD(2) for the amount contributed by your employer, up to the limits mentioned above.
  3. Reduced Taxable Income: This deduction reduces your taxable income, which in turn lowers your income tax liability.

Scenario:

  • Employee: Priya
  • Financial Year (FY): 2024-25 (AY 2025-26)
  • Salary (Basic + DA): ₹10,00,000 per annum
  • Employer: A private company (non-government)
  • Priya’s Contribution to NPS (80CCD(1)): ₹50,000
  • Employer’s Contribution to NPS (80CCD(2)): ₹1,50,000 (15% of salary)
  • Priya opts for the New Tax Regime (Section 115BAC).
  • Total Income (Before Deductions): ₹12,00,000

Calculations:

  1. 80CCD(1) – Employee’s Contribution:

    • Under the new tax regime, Priya cannot claim a deduction for her own contribution of ₹50,000 if New Tax Regime is opted.

  2. 80CCD(2) – Employer’s Contribution:

    • For AY 2025-26 (FY 2024-25), the employer’s contribution limit under 80CCD(2) in the new tax regime is 14% of salary.
    • Employer contribution limit = 14% of 10,00,000 = 1,40,000
    • Employers actual contribution = 1,50,000
    • Therefore Priya can only claim 1,40,000 rupees as a deduction. The extra 10,000 rupees can not be claimed.

  3. Total Taxable Income:

    • Total income (before deductions): ₹12,00,000
    • Deduction 80CCD(2): 1,40,000
    • Taxable income: ₹12,00,000 – 1,40,000 = 10,60,000

  4. Tax Calculation:

    • Priya’s tax will be calculated based on the new tax regime slabs for ₹10,60,000.

Key Change:

  • Even though the employer contributed 15%, Priya can only claim up to the legal limit of 14% of her salary, which is 1,40,000 rupees.
  • By understanding and utilizing Section 80CCD(2), you can significantly reduce your tax burden and build a secure retirement corpus through NPS.

 B) Contribution to Agniveer Corpus Fund u/s 80CCH(2)

Section 80CCH(2) of the Income Tax Act deals with deductions for contributions made to the Agniveer Corpus Fund. Here’s a breakdown:

Section 80CCH: Deduction in respect of contribution to Agnipath Scheme

This section deals with deductions for contributions related to the Agniveer Corpus Fund under the Agnipath Scheme. Here’s a precise breakdown based on the provided text:

  • 80CCH(1): Agniveer’s Own Contribution:

    • If an individual enrolled in the Agnipath Scheme contributes to the Agniveer Corpus Fund on or after November 1, 2022, they can deduct the entire amount they contributed from their total income in Old Tax regime but this is not allowed in New Tax Regime u/s 115BAC.
    • This means a 100% deduction of the Agniveer’s personal contribution in Old Tax regime

  • 80CCH(2): Central Government’s Contribution:

    • If the Central Government makes a contribution to the Agniveer’s account in the Agniveer Corpus Fund, the Agniveer can also deduct the entire amount of the government’s contribution from their total income in Old / New Tax Regime
    • This means a 100% deduction of the government contribution Old / New Tax Regime

  • Key Definitions (Explanation):

    • Agnipath Scheme: Refers to the scheme for enrollment in the Indian Armed Forces as detailed in the Ministry of Defence letter dated December 29, 2022.
    • Agniveer Corpus Fund: Is the fund that holds the combined contributions of all Agniveers, the matching contributions from the Central Government, and the interest accrued on these contributions.

Let’s create a clear example of how Section 80CCH(2) works for an Agniveer in the new tax regime (Section 115BAC), where it’s the only allowed deduction related to the Agniveer Corpus Fund.

Scenario:

  • Agniveer Rohan: Rohan is enrolled in the Agnipath Scheme and is contributing to the Agniveer Corpus Fund.
  • Government Contribution: During the financial year 2023-24, the Central Government contributed ₹50,000 to Rohan’s account in the Agniveer Corpus Fund.
  • Rohan’s Own Contribution: Rohan himself contributed ₹30,000 to the fund.
  • Rohan opts for the New Tax Regime (Section 115BAC).
  • Rohan’s Total Income (Before Deductions): ₹6,00,000

How Section 80CCH(2) Applies:

  1. Government Contribution Deduction:
    • Under Section 80CCH(2), Rohan can deduct the entire ₹50,000 contributed by the Central Government.
  2. Rohan’s Own Contribution:
    • Under the new tax regime, Rohan cannot deduct his own contribution of ₹30,000. This is because 80CCH(1) is not allowed under 115BAC.
  3. Calculation of Taxable Income:
    • Rohan’s total income (before deductions): ₹6,00,000
    • Deduction under 80CCH(2): ₹50,000
    • Rohan’s taxable income: ₹6,00,000 – ₹50,000 = ₹5,50,000

Result:

  • Rohan’s taxable income is reduced to ₹5,50,000 due to the deduction under Section 80CCH(2).
  • Rohan will then calculate his tax based on the new tax regime tax slabs using the 5,50,000 taxable income.

Key Points to Emphasize:

  • In the new tax regime, only the government’s contribution to the Agniveer Corpus Fund (80CCH(2)) is deductible.
  • The Agniveer’s own contributions (80CCH(1)) are not deductible under the new tax regime.
  • This is a very important distinction,.

Absolutely! Here’s the information presented in a clear tabular format:

Deductions Allowed in New Tax Regime :  Family Pension Section 57(iia) –

Feature Old Tax Regime

( AY 2025-26 and AY 2026-27)

 New Tax Regime (Section 115BAC)

(AY 2025-26 and AY 2026-27)
Deduction Calculation 33.33% of family pension income or ₹15,000, whichever is lower. 33.33% of family pension income or ₹25,000, whichever is lower.
Maximum Deduction Limit ₹15,000 ₹25,000
Applicability Applies to all taxpayers receiving family pension. Applies to taxpayers who have opted for the new tax regime (Section 115BAC).
Effective in AY 2025-26 and AY 2026-27 Assessment Year 2025-26 onwards

Key Points:

  • Family Pension Definition: “Family pension” is a regular monthly payment by an employer to a family member of a deceased employee.
  • Deduction Calculation: In both regimes, the deduction is calculated as 33.33% of the family pension income.
  • Maximum Limit Increase: The key change is the increase in the maximum deduction limit from ₹15,000 to ₹25,000 for those who opt for the new tax regime from AY 2025-26.

Deductions Allowed in New Tax Regime for Interest on Housing Loan

House Status Deductibility of Interest Limit
Rented Deductible against rental income No limit
Self-Occupied Not deductible –

 let’s compare the two scenarios side-by-side to highlight the differences in tax treatment under the new regime:

Feature Example 1: Rented House Example 1: Self-Occupied House
A. Gross Business Income  ₹5,00,000 ₹5,00,000
B. Rental Income ₹3,00,000 –
C. Home Loan Interest ₹1,50,000 ₹1,50,000
D. 30% Standard Deduction Applicable on Rental Income

(Rs 300000*30% = ₹90,000)

 Not Applicable
E . Home Loan Interest Deduction Rs 150000 is Deductible against Rental Income Not Deductible
F. Net Income from House Property ₹60,000 ( Rs 300000-Standared Deduction of  Rs 90000 Less Home Loan Interest Rs 150000) –
G. Total Taxable Income ₹5,60,000 ( A+F) ₹5,00,000

Key Takeaways from the Comparison

  1. Taxable Income:

    • Rented House: The taxable income is lower (₹5,60,000) due to the deduction of home loan interest and the 30% standard deduction on rental income.
    • Self-Occupied House: The taxable income remains higher (₹5,00,000) as there are no deductions available.

  2. Tax Liability: Amit would pay less tax in the scenario where the house is rented out, as his taxable income is lower.

Income Tax Slab Rates for FY 2024-25 (AY 2025-26) in New Tax Regime

Income tax rates Income slab (Rs.) previously under

new tax regime For 

FY 2023-24 (AY 2024-25)

 Income slab (Rs.) under 

new tax regime for

FY 2024-25(AY 2025-26)
0% Upto Rs 3,00,000 Upto Rs 3,00,000
5% From  Rs 3,00,001 to 6,00,000 From Rs. 3,00,001 to Rs. 7,00,000
10% From  Rs 6,00,001 to 9,00,000 From 7,00,001 to Rs. 10,00,000
15% From  Rs 9,00,001 to 12,00,000 From Rs. 10,00,001 to Rs. 12,00,000
20% From Rs  12,00,001 to 15,00,000 From Rs. 12,00,001 to Rs. 15,00,000
30% Rs 15,00,000 and above Above Rs. 15,00,000

 

Section 87A Rebate : Note that where the total income of a resident individual is chargeable to tax under section 115BAC(1A) and total income does not exceed Rs. 7,00,000, his tax liability shall be reduced by a rebate of up to Rs. 25,000 in view of the proviso to Section 87A. This rebate is also subject to marginal relief.

Rebate and Marginal Relief in Section 87A

Feature Old Tax Regime New Tax Regime (Section 115BAC)
Maximum Income Limit ₹5,00,000 ₹7,00,000 (with additional rebate for higher incomes)
Rebate Amount 100% of income tax or ₹12,500, whichever is less 100% of income tax or ₹25,000, whichever is less (for incomes up to ₹7,00,000)

Excess of income tax over the amount by which income exceeds ₹7,00,000 (for incomes above ₹7,00,000)

This table highlights the key differences in the rebate available under the old and new tax regimes. The new regime offers a higher rebate for lower incomes and also provides a rebate for incomes above ₹7,00,000, although the calculation is different.

 Income Tax Slab Rates for FY 2025-26 (AY 2026-27) in New Tax Regime

Total Income (Rs.) Rate of Tax
Up to 4,00,000 Nil
4,00,001 to 8,00,000 5%
8,00,001 to 12,00,000 10%
12,00,001 to 16,00,000 15%
16,00,001 to 20,00,000 20%
20,00,001 to 24,00,000 25%
Above 24,00,000 30%

Increase in Section 87A Rebate

From assessment year 2026-27 onwards, the rebate under section 87A will be available to individuals resident in India whose income is chargeable to tax under subsection (1A) of section 115BAC. The limit of total income for rebate will be enhanced from Rs. 7,00,000 to Rs. 12,00,000. The limit of rebate will be increased from Rs. 25,000 to Rs. 60,000. The deduction under the first proviso to section 87A shall not exceed the amount of income tax payable as per the rates provided in subsection (1A) of section 115BAC.

List of Deductions Allowed in New Tax Regime in AY 2025-26 and AY 2026-27

Refer Govt of India Website

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]]> Senior Citizens ITR filing not Mandatory in 2025 | Senior Citizens Tax Benefits | https://www.taxheal.com/senior-citizens-itr-filing-not-mandatory-in-2025-senior-citizens-tax-benefits.html Mon, 17 Feb 2025 14:03:12 +0000 https://www.taxheal.com/?p=99402 Senior Citizens ITR filing not Mandatory in 2025 | Senior Citizens Tax Benefits Senior Citizens ITR filing not Mandatory in 2025 but there are certain conditions for this Senior Citizens Tax Benefit. Did you know that filing your Income Tax Return (ITR) might not be mandatory for you? This video breaks down Section 194P of… Read More »

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Senior Citizens ITR filing not Mandatory in 2025 | Senior Citizens Tax Benefits

Senior Citizens ITR filing not Mandatory in 2025 | Senior Citizens Tax Benefits |

Senior Citizens ITR filing not Mandatory in 2025 but there are certain conditions for this Senior Citizens Tax Benefit. Did you know that filing your Income Tax Return (ITR) might not be mandatory for you? This video breaks down Section 194P of the Income Tax Act and the latest updates from the 2025 Income Tax Bill that simplify tax compliance for certain senior citizens.Here is the complete breakdown:

 

 

Video Explanation Senior Citizens ITR filing not Mandatory in 2025

Provisons as per Income tax Act 1961 : for 1st April 2025  t0 31st March 2026( AY 2026-27)

Feature Description
Section 194P of Income Tax Act 1961
Subject Deduction of tax in case of specified senior citizen
Applicability Specified senior citizen
Overriding Provision “Notwithstanding anything contained in the provisions of Chapter XVII-B” – This section overrides other TDS provisions in Chapter XVII-B where applicable.

TDS will be deducted and paid by the Bank to the Income Tax Department on the Total Income of the Specified senior citizen as per Section 194P
Deduction by Specified bank
Process The specified bank will:

1. Compute the total income of the specified senior citizen after allowing deductions under Chapter VI-A and rebate under Section 87A.

2. Deduct income tax on such total income based on the rates in force.
Key Benefit ( ITR Filing not required) The provisions of Section 139 (ITR filing) shall not apply to a specified senior citizen for the assessment year in which tax has been deducted under Section 194P(1). . It means Senior Citizens are not required to File Income Tax Return.
“Specified Bank” Definition A banking company as the Central Government may, by notification in the Official Gazette, specify.

Govt has issued the Following Notificaiton :-

A banking company which is a scheduled bank and has been appointed as agents of the Reserve Bank of India (RBI) under Section 45 of the RBI Act, 1934. (As per Notification S.O. 3595(E) dated 2-9-2021)
“Specified Senior Citizen” Definition An individual, resident in India, who:

1. Is 75 years or more at any time during the previous year.

2. Has income only from pension and interest received/receivable from an account in the same specified bank where they receive their pension.

3. Has furnished a declaration to the specified bank with prescribed particulars, in the prescribed form, and verified as prescribed (refer Form 12BBA).
Declaration by Senior Citizen (Form 12BBA) The specified senior citizen must furnish a declaration to the bank in Form No. 12BBA, in paper form, duly verified. Download Form 12BBA , Income-tax Rules, 1962
Bank’s Computation of Income The bank computes the total income after giving effect to deductions under Chapter VI-A and rebate under Section 87A.
Evidence for Deductions (Chapter VI-A) Deductions under Chapter VI-A are allowed based on the evidence furnished by the specified senior citizen during the previous year.
Maintenance of Records by Bank The specified bank must properly maintain the declaration (Form 12BBA) and evidence for Chapter VI-A deductions and make them available to the Principal Chief Commissioner/Chief Commissioner of Income-tax when required.
Procedure for Furnishing Information by Bank The Principal Director General/Director General of Income-tax (Systems) will specify the procedure for banks to furnish particulars of Form 12BBA and evidence to the Principal Chief Commissioner/Chief Commissioner of Income-tax.

Let’s illustrate the application of Section 194P  with an example:

Scenario:

Mr. Ramesh is a 78-year-old resident of India. His only income sources are:

  1. Pension of ₹9,00,000 per year, received from XYZ Bank.
  2. Interest income of ₹50,000 per year, earned on a fixed deposit account also with XYZ Bank.

XYZ Bank is a scheduled bank and an RBI agent, thus qualifying as a “specified bank.”

Application of TDS

Before deducting any tax, XYZ Bank, as per Clause 393(1) and Table S.No. 8 (iii), calculates Mr. Ramesh’s total income:

  1. Pension Income: ₹9,00,000
  2. Interest Income: ₹50,000
  3. Gross Total Income: ₹9,50,000
  4. Deductions under Chapter VIII: Let’s assume Mr. Ramesh is eligible for deductions of ₹50,000 under Chapter VIII (e.g., for medical insurance premiums).
  5. Total Income (after deductions):
    1.  Old Tax Regime ₹9,50,000 – ₹50,000 = ₹9,00,000
    2. New Tax Regime ₹9,50,000 ( Deductions not allowed)
  6. Rebate under Section 87A: Let’s assume there is no rebate applicable (since Total Income Exceeds Rs 5 Lakh , if old Regime is Opted.
  7. Net Taxable Income: ₹9,00,000

Application of Section 194P:

Now, based on this calculated income, XYZ Bank, as per Section 194P, will:

Compute Tax:

i) Old Tax Regime : Calculate the income tax due on ₹9,00,000 according to the applicable tax slabs for senior citizens. Let’s assume, for simplicity, this comes to ₹93,600.

Income Tax Slab-Old Tax Regime Tax Rate Tax
upto Rs 300000 NIL 0
From Rs 300001 to Rs 500000 5% 10000
From rs 500001 To Rs 1000000 20% 80000
Above Rs 1000000 30% 0
Net Tax 90000
Add Education cess @ 4% 3600
Total Tax 93600

 Deduct TDS: XYZ Bank will deduct ₹93600 as TDS from Mr. Ramesh’s income.

ii) New Tax Regime : 

Calculate the income tax due on ₹9,50,000 (The new tax regime does not allow for many deductions.)  according to the applicable tax slabs for senior citizens. Let’s assume, for simplicity, this comes to ₹46,800.

Tax on Normal Inome
Income Tax Slab-New Tax Regime Tax Rate Tax
upto Rs 300000 Nil 0
From Rs 300001 to Rs 700000 5% 20000
From Rs 700001 To Rs 1000000 10% 25000
From Rs 1000001 To Rs 1200000 15% 0
From Rs 1200001 to Rs 1500000 20% 0
Above Rs 1500000 30% 0
Net Tax 45000
Add Education cess @ 4% 1800
Total Tax 46800

 Deduct TDS: XYZ Bank will deduct ₹46800 as TDS from Mr. Ramesh’s income.

ITR Filing:

Because the tax has been deducted by the bank under Section 194P, and his income sources are limited to pension and interest from the same bank, Mr. Ramesh is not required to file an Income Tax Return (ITR). This is now explicitly stated in the Income tax Act . The bank’s TDS covers his tax liability.

Key Points Illustrated for Senior Citizens ITR filing :

  • Income Calculation First: section 194P ensures the bank correctly calculates Mr. Ramesh’s income before deducting TDS. This is essential for accurate tax deduction.
  • TDS and Exemption: Section 194P mandates the bank to deduct TDS based on the income calculated  and provides the ITR filing exemption.
  • Simplified Process: This system simplifies tax compliance for senior citizens like Mr. Ramesh, relieving them of the burden of filing an ITR. The bank handles the TDS, and he’s exempt from filing as long as his income sources meet the criteria.
  • Explicit Exemption: The income tax act makes it  completely clear that Mr. Ramesh doesn’t need to file an ITR in this situation.

This example demonstrates how these provisions work together to ensure tax compliance for specified senior citizens in a streamlined and convenient manner.

Provison in New Income Tax Bill 2025 from Tax year 2026-27 (1st April 2026 to 31 March 2027) for Senior Citizens ITR filing

Here’s the table updated with the new ITR filing provision from the 2025 Income Tax Bill:

Feature Income Tax Act 1961

Section 194P

 

 Income Tax Bill 2025

Clause 393(1) [Table: S.No. 8(iii)] ()
Purpose Deduction of tax at source (TDS) from income of specified senior citizens Calculation of total income for TDS by the bank
Action Specifies the TDS process Specifies income calculation for TDS
Focus TDS mechanism & ITR filing exemption Income calculation for TDS and TDS mechanism & ITR filing exemption
“Specified Senior Citizen” Definition Resident Indian, 75+ years, pension & interest (same bank), declaration furnished Resident Indian, 75+ years, pension & interest (same bank), declaration furnished
Income Considered Pension & interest (same bank) Pension & interest (same bank)
Declaration Required Required
Deductions Considered Chapter VI-A deductions & Section 87A rebate Chapter VIII deductions & Section 156 rebate
ITR Filing Exempts from filing ITR (Section 139) Explicitly states ITR filing is not required for specified senior citizens as defined in Section 402(39) when tax is deducted under Section 393(1) [Table: Sl. No. 8 (iii)].
“Specified Bank” Definition Defined (Scheduled bank & RBI agent) “specified bank” means a banking company as the Central Government may, by notification, specify;
Key Difference Act of TDS & ITR filing exemption Income calculation for TDS and & ITR exemption

Key Change:

The 2025 Income Tax Bill, through the added clause related to Section 393(1), now explicitly states that ITR filing is not required for specified senior citizens when tax is deducted at source under Section 393(1) [Table: Sl. No. 8 (iii)]. While the exemption was already implied due to Section 194P, the new language removes any ambiguity and makes the exemption crystal clear. This is a significant improvement in clarity for senior citizens.

List of Schedule Bank as per RBI act 1964

[THE SECOND SCHEDULE
[See section 42 and section 2(e)]
SCHEDULED BANKS
AB Bank Ltd.
Abhyudaya Co-operative Bank Ltd., Mumbai
Abu Dhabi Commercial Bank Ltd.
Ahmedabad Mercantile Co-Op Bank Ltd.
Airtel Payments Bank Limited
Amanath Co-operative Bank Ltd. Bangalore
American Express Banking Corporation
Andhra Pradesh Grameena Vikas Bank
Andhra Pradesh Mahesh Co-Op Urban Bank Ltd.
Andhra Pragathi Grameena Bank
Apna Sahakari Bank Ltd.
Arunachal Pradesh Rural Bank
Aryavart Bank
Assam Gramin Vikash Bank
Au Small Finance Bank Limited
Australia and New Zealand Banking Group Ltd.
Axis Bank Limited
Bandhan Bank Limited
Bangiya Gramin Vikas Bank
Bank of America
Bank of Bahrain & Kuwait BSC

Bank of Baroda
Bank of Ceylon
Bank of China
Bank of India
Bank of Maharashtra
Bank of Nova Scotia
Barclays Bank Plc.
Baroda Gujarat Gramin Bank
Baroda Rajasthan Kshetriya Gramin Bank
Baroda UP Bank
Bassein Catholic Co-operative Bank Ltd.
Bharat Co-operative Bank (Mumbai) Ltd., Mumbai
Bharati Sahakari Bank Limited.
BNP Paribas
Bombay Mercantile Co-operative Bank Limited
Canara Bank
Capital Small Finance Bank Limited
Central Bank of India
Chaitanya Godavari Grameena Bank

Chhattisgarh Rajya Gramin Bank
Citibank N.A.
Citizen Credit Co-operative Bank Ltd., Mumbai
City Union Bank Limited
Cooperatieve Rabobank U.A.
Cosmos Co-operative Bank Ltd
Credit Agricole Corporate & Investment Bank
Credit Suisse A.G
CSB Bank Limited
CTBC Bank Co., Ltd.
Dakshin Bihar Gramin Bank
DBS Bank India Limited
DCB Bank Limited
Deutsche Bank
Dhanlaxmi Bank Limited
Doha Bank Q.P.S.C
Dombivli Nagari Sahakari Bank Ltd.
Ellaquai Dehati Bank
Emirates Bank NBD
Equitas Small Finance Bank Limited
ESAF Small Finance Bank Limited
Federal Bank Limited
FINCARE Small Finance Bank Limited
Fino Payments Bank Limited
First Abu Dhabi Bank PJSC
FirstRand Bank Ltd
G. P. Parsik Janata Sahakari Bank Ltd., Thane
Goa Urban Co-operative Bank Limited.
Greater Bombay Co-operative Bank Limited
GS Mahanagar Co-operative Bank Ltd., Mumbai
Gujarat State Co-operative Bank Ltd.
HDFC Bank Limited

Himachal Pradesh Gramin Bank
HSBC Ltd
ICICI Bank Limited
IDBI Bank Limited
IDFC FIRST Bank Limited
India Post Payments Bank Limited
Indian Bank
Indian Mercantile Co-operative Bank Ltd.
Indian Overseas Bank
IndusInd Bank Limited
Industrial & Commercial Bank of China Ltd
Industrial Bank of Korea
J.P. Morgan Chase Bank N.A.
J&K Grameen Bank
Jalgaon Janata Sahakari Bank Ltd.
Jalgaon People’s Co-operative Bank Ltd.
Jammu & Kashmir Bank Limited

Jana Small finance Bank Limited
Janakalyan Sahakari Bank Ltd., Mumbai
Janalaxmi Co-operative Bank Ltd., Nashik
Janata Sahakari Bank Ltd., Pune.
Jharkhand Rajya Gramin Bank
JSC VTB Bank
Kallappanna Awade Ichalkaranji Janata Sahakari Bank Ltd.
Kalupur Commercial Coop.Bank Ltd.
Kalyan Janata Sahakari Bank Ltd., Kalyan
Kapol Co-operative Bank Ltd., Mumbai
Karad Urban Co-operative Bank Ltd.
Karnataka Bank Limited
Karnataka Gramin Bank
Karnataka Vikas Grameena Bank
Karur Vysya Bank Limited
KEB Hana Bank
Kerala Gramin Bank
Kookmin Bank
Kotak Mahindra Bank Limited
Krung Thai Bank Public Co. Ltd.
Madhya Pradesh Gramin Bank
Madhyanchal Gramin Bank
Maharashtra Gramin Bank
Manipur Rural Bank
Mashreq Bank PSC
Meghalaya Rural Bank
Mehsana Urban Co-Op Bank Ltd.
Mizoram Rural Bank
Mizuho Bank Ltd.
MUFG Bank, Ltd.
Nagaland Rural Bank
Nagar Urban Co-operative Bank Ltd., Ahmednagar
Nagpur Nagrik Sahakari Bank Ltd.

Nainital Bank Limited
Nasik Merchant’s Co-operative Bank Ltd.
NatWest Markets Plc
New India Co-operative Bank Ltd., Mumbai
NKGSB Co-operative Bank Ltd., Mumbai
North East Small Finance Bank Limited
Nutan Nagarik Sahakari Bank Ltd., Ahmedabad
Odisha Gramya Bank
Paschim Banga Gramin Bank
Paytm Payments Bank Limited
Prathama UP Gramin Bank
Pravara Sahakari Bank Ltd.
PT Bank Maybank Indonesia TBK
Puduvai Bharathiar Grama Bank
Punjab & Sind Bank
Punjab Gramin Bank

Punjab National Bank
Qatar National Bank (Q.P.S.C.)
Rajarambapu Sahakari Bank Ltd.
Rajasthan Marudhara Gramin Bank
Rajkot Nagrik Sahakari Bank Ltd.
RBL Bank Limited
Rupee Co-operative Bank Ltd.
Sangli Urban Co-operative Bank Ltd., Sangli
Saptagiri Grameena Bank
Saraswat Co-operative Bank Ltd., Bombay
Sarva Haryana Gramin Bank
Saurashtra Gramin Bank
Sberbank
SBM Bank (India) Limited
SBPP Co-operative Bank Ltd., Killa Pardi, Dist Valsad (Gujarat)
Shamrao Vithal Co-operative Bank Ltd.
Shikshak Sahakari Bank Ltd., Nagpur.
Shinhan Bank
Shivalik Small Finance Bank Limited
Sikkim State Co-operative Bank Ltd.
Societe Generale
Solapur Janata Sahakari Bank Ltd.
Sonali Bank Ltd.
South Indian Bank Limited
Standard Chartered Bank
State Bank of India
Sumitomo Mitsui Banking Corporation
Surat Peoples Coop Bank Ltd.
Suryoday Small Finance Bank Limited
Tamil Nadu Grama Bank

Tamilnad Mercantile Bank Limited
Telangana Grameena Bank
Thane Bharat Sahakari Bank Ltd.
The Akola Janata Commercial Co-operative Bank Ltd., Akola.
The Akola Urban Co-operative Bank Ltd., Akola.
The Andhra Pradesh State Co-operative Bank Ltd.
The Bihar State Co-operative Bank Ltd.
The Chhatisgarh Rajya Sahakari Bank Maryadit
The Delhi State Cooperative Bank Ltd.
The Goa State Co-operative Bank Ltd.
The Haryana State Co-operative Apex Bank Ltd.
The Himachal Pradesh State Co-operative Bank Ltd.
The Karnataka State Co-operative Apex Bank Ltd.
The Kerala State Co-operative Bank Ltd.
The Khamgaon Urban Co-operative Bank Ltd., Khamgaon.
The Madhya Pradesh Rajya Sahakari Bank Maryadit
The Maharashtra State Co-operative Bank Ltd.
The Meghalaya Co-operative Apex Bank Ltd.
The Odisha State Co-operative Bank Ltd.

The Puducherry State Co-operative Bank Ltd.
The Punjab State Co-operative Bank Ltd.
The Rajasthan State Co-operative Bank Ltd.
The Tamil Nadu State Apex Co-operative Bank Ltd.
The Telangana State Cooperative Apex Bank Ltd.
The Uttar Pradesh Co-operative Bank Ltd.
The Uttarakhand State Co-operative Bank Ltd.
The West Bengal State Co-operative Bank Ltd.
TJSB Sahakari Bank
Tripura Gramin Bank
Tripura State Co-operative Bank Ltd.
UCO Bank
Ujjivan Small Finance Bank Limited
Union Bank of India
United Overseas Bank Ltd
Unity Small Finance Bank Limited
Utkal Grameen bank
Utkarsh Small Finance Bank Limited
Uttar Bihar Gramin Bank
Uttarakhand Gramin Bank
Uttarbanga Kshetriya Gramin Bank
Vasai Vikas Sahakari Bank Ltd.
Vidharbha Konkan Gramin Bank
Woori Bank
YES Bank Limited
Zoroastrian Co-operative Bank Ltd., Bombay

Refer IncomeTax India website

]]> CAPITAL GAINS TAX on PROPERTY SALE AY 2024-25 I section 54 I New Tax Regime Old Tax https://www.taxheal.com/new-change-capital-gains-tax-on-property-sale-ay-2024-25.html Tue, 26 Mar 2024 08:25:01 +0000 https://www.taxheal.com/?p=95690 NEW CHANGE CAPITAL GAINS TAX on PROPERTY SALE AY 2024-25 I section 54 I New Tax Regime Old Tax

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]]> STCG TAX ON MUTUAL FUNDS 2024-25 NEW INCOME TAX RULES I CAPITAL GAINS TAX https://www.taxheal.com/stcg-tax-on-mutual-funds-2024-25.html Mon, 18 Mar 2024 08:17:37 +0000 https://www.taxheal.com/?p=95672 STCG TAX ON MUTUAL FUNDS 2024-25 NEW INCOME TAX RULES I CAPITAL GAINS TAX

]]> STCG TAX ON MUTUAL FUNDS 2024-25 NEW INCOME TAX RULES I CAPITAL GAINS TAX

]]> Top 5 Income Tax Saving Tips https://www.taxheal.com/top-5-income-tax-saving-tips.html https://www.taxheal.com/top-5-income-tax-saving-tips.html#respond Sun, 24 Jul 2016 14:57:07 +0000 http://taxheal.com/?p=12712 Income Tax Saving Tips Source /www.tomorrowmakers. com

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Tax Saving Tips

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