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If you haven’t filed your Income Tax Return (ITR) yet, you can still choose between the old and new tax regimes. The option is available until you file your return, giving taxpayers the flexibility to select the regime best suited to their financial situation for FY 2023–24.
A tax refund is issued when the taxes you’ve paid—like TDS or advance tax—exceed your actual tax due. After you file and verify your ITR, the Income Tax Department processes your return. If eligible, the refund is usually credited to your bank account within 20 to 45 days, depending on processing speed.
Housing societies must pay 18% GST if maintenance charges exceed ₹7,500 per month per member and total annual collections cross ₹20 lakh. Both conditions must be met for GST to apply. Societies below these thresholds remain exempt, as per recent government clarification to ensure consistent tax compliance.
Following the RBI's recent repo rate cut by 25 basis points to 6%, several major banks, including SBI and Kotak Mahindra, have slashed their fixed deposit interest rates. The move mirrors the central bank’s accommodative stance, aimed at boosting liquidity and encouraging lending amid slowing credit demand.
Banks across the country have trimmed deposit rates, leaving savers reeling. The move aims to safeguard profit margins amid rising operational costs and economic uncertainty. Analysts warn this trend could push conservative investors toward riskier assets. While borrowers may benefit slightly, the real squeeze is now on those relying on interest income for financial stability.