New of penalty for maintaining accounts in more than one bank is fake – PIB Factcheck
A misconception is being spread in some articles that according to the new guidelines of the Reserve Bank of India, now a penalty will be imposed for maintaining accounts in more than one bank
In social media, a fake news is being spreading that according to the new guidelines of the Reserve Bank of India, now a penalty will be imposed for maintaining accounts in more than one bank. This has resulted into an atmosphere of fear and apprehension in the mind of general public.
PIB Fact check has investigated the fake news of penalty for maintaining accounts in more than one bank and found it completely fake. According to PIB Factcheck, RBI has not issued any guideline and public should be alert to such fake news.
- Penalty u/s 271B for unfilled column 40 in Tax Audit Report Form 3CD deleted by ITAT
- Merely ex-parte rectifying computation without amending assessment order not make it nullity- ITAT
- Once assessee discharges primary onus, it shifts to AO to bring evidence to contrary – ITAT
- Cost Inflation Index for FY/Tax Year 2026-27 notified by CBDT. See Up-to-date Table of CII
- Power of CIT(A) u/s 251(1)(a) to remand case can be exercised only in best judgment assessment
