Filing a nil ITR not only helps maintain a verifiable financial history for the assessment year but also serves various practical purposes. Tax deducted at source (TDS) may still apply to savings interest, freelancing income, fixed deposits, or dividends, making it essential to document all income sources.

Moreover, banks and lending institutions often request ITR documentation as proof of income, which can significantly improve eligibility for personal loans, home loans, and credit cards. As one expert put it, “Such a return can help improve eligibility for personal loans, home loans, and credit cards.” This underscores the importance of maintaining a clean compliance history.

For taxpayers with income up to Rs 50 lakh, the ITR-1 form is available, facilitating a straightforward filing process. Additionally, presumptive taxpayers under sections 44AD, 44ADA, and 44AE can utilize ITR-4, provided they meet certain conditions.

Those with foreign retirement benefit account disclosures may need to file ITR-2 or ITR-3, highlighting the diverse filing requirements based on individual circumstances. Consistent filing of nil ITRs not only builds a clean compliance history with tax authorities but also allows individuals to carry forward investment losses for future tax adjustments.

As the deadline approaches, taxpayers are encouraged to prioritize their ITR filings. “A nil ITR is not optional; it is a strategic advantage,” experts advise, reinforcing the notion that maintaining a proactive approach to tax filing can yield long-term benefits.

In summary, the importance of filing a nil ITR for AY 2026-27 cannot be overstated. It serves as a foundational step in establishing a reliable financial profile, essential for various financial undertakings. Observers expect that as more individuals recognize these benefits, compliance rates will improve, leading to a more transparent financial ecosystem.

The post Itr filing 2026 deductions: Why Are Essential Even with Zero Tax Liability appeared first on bangalinews.

On March 6, 2026, Indian Oil Corporation Limited announced a second interim dividend of 20% for the financial year 2025-26. This decision was made during a Board meeting held on the same day.

The declared dividend amounts to Rs. 2 per equity share of Rs. 10 each, marking a significant return for shareholders. The payment to eligible shareholders is scheduled to be made on or before April 5, 2026.

To determine eligible shareholders, a record date has been fixed for March 12, 2026. This means that only those who hold shares by this date will qualify for the dividend payout.

This announcement follows a previous interim dividend of ₹5 per share, which was declared with a record date of December 18, 2025. Additionally, a final dividend of ₹3 per share was issued earlier, with a record date of August 8, 2025.

For resident shareholders possessing a valid Permanent Account Number (PAN), a 10% Tax Deducted at Source (TDS) will apply. Conversely, shareholders without a valid PAN will face a higher deduction of 20% from their dividend payments.

Shareholders are reminded that the deadline to submit documents for TDS benefits is also March 12, 2026. This is crucial for those looking to minimize their tax liabilities on the dividend received.

As of March 6, 2026, Indian Oil’s market capitalisation stands at ₹2.41 lakh crore. However, it is noteworthy that the company’s stock declined approximately 9% in the week leading up to this dividend announcement.

The declaration of the interim dividend is significant for shareholders, as it reflects the company’s financial health and commitment to returning value to its investors. The timing and amount of dividends can influence market perceptions and investor confidence.

Overall, this announcement is a key development for those invested in Indian Oil Corporation Limited, and it highlights the ongoing financial strategies employed by the company to engage with its shareholders.

The post Indian oil interim dividend appeared first on bangalinews.