Interest rates on bank deposits and various other debt instruments have virtually collapsed in the last few months. It's very difficult to get interest rates even near the 7 per cent on bank deposits. At such times, it is best to take a look at some of the post office saving schemes, which offer better interest rates than bank deposits.
For the financial year 2019-20, the department of income tax under whose ambit all tax-related matters fall formally announced the extension in deadline for filing of ITR from July 31, 2020 to November 30, 2020 on Saturday. The dates were notified earlier only by the centre. The dept. said that the move has been taken "understanding and keeping in mind the times .."
Facing cash crunch and at the same time have to pay towards your life insurance policy which can be a daunting task amid such a situation, but if you are a service class individual working in the organized sector you are almost likely to have an EPF account and this can come as a big relief during such distressed times.
The income tax department has made last-minute changes to the challan for paying the 'equalisation levy' by expanding its scope to include non-resident e-commerce players supplying goods or services online. The first installment is due on 7 July. Over two dozen non-resident tech companies would come under the purview of the equalisation levy.