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Inclusion of Interest Income in the Return of Income filed by Persons liable to Pay Tax

News and Press Release - Dated:- 25-3-2016 - Information regarding interest earned by individuals and business entities on term deposit is filed with the Income Tax Department by banks including co-operative banks and other financial institutions and .....

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of tax is also filed by the payer with the Department. Central Board of Direct Taxes(CBDT) hereby informs the persons earning interest income that interest credited/received on deposits is taxable unless exempt under Section 10 of the Income-tax Act .....

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