Fixed Deposit New Rules 2026: new fixed deposits of ₹10 lakh or more in a financial year by a person need to be reported by the bank or the post office to the Income-tax Department in the statement of financial transactions. However, this limit does not apply to fixed deposit renewals.
Income Tax Department
ITR Filing AY 2025-26: Income Tax SMS Alert Explained | Big Clarification for Taxpayers
ITR filing FY 2024-25: The Income tax department (ITD) on Thursday said the recent communications sent to some taxpayers regarding their transactions are advisory in nature and aimed at facilitating voluntary compliance, not initiating enforcement action.