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7 Dec Tax

Caution: Savings Account Deposits Beyond Limit May Attract Income Tax Notice—Ensure Compliance with Investment Ceilings

Before engaging in any banking transactions, it’s crucial to ensure compliance with relevant provisions to avoid potential tax implications under Rule 114E. Let’s delve into the details. Individuals across various sectors, including salaried employees, often maintain at least one savings account to fulfill their banking requirements. Some even opt for multiple accounts for diverse reasons. […]