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Taxpayers must file income tax returns (ITR) by September 15, 2025, extended from July 31. Delayed filings until December 31 incur penalties. 

While the bank would need to deduct TDS under the accrual basis for the interest, you could offer the entire interest to tax only on receipt of the interest on maturity/withdrawal.

Investing in unlisted shares is not as straightforward as buying and selling listed stocks. It is fraught with risks that retail investors may not even be aware of.

When it comes to the taxpayer-who may miss a form, a checkbox, or falter on minor procedural compliance-the tax authorities often rigidly insist on form over substance.