Income Tax Refund

Supreme Court asks Income Tax department to refund Rs 733 cr to Vodafone Idea within four weeks

The Supreme Court Wednesday granted partial relief to Vodafone Idea Ltd by asking the Income Tax department to refund Rs 733 crore to the telecom firm within four weeks, for the assessment year 2014-15

I-T refunds worth Rs 4,250 cr issued in a week; to be credited in 5-7 days in taxpayer bank account: CBDT

The Income Tax department has issued over 10.2 lakh refunds worth Rs 4,250 crore within a week, the Central Board of Direct Taxes (CBDT) said on Wednesday

Economic reforms showing impact, says government giving a recap of steps taken to boost growth

Finance Minister Nirmala Sitharaman said on Friday the government has taken concrete measures to implement a planned economic strategy for achieving the five trillion dollar GDP goal by 2024

I-T dept issues tax refunds of Rs 1.57 lakh cr till November: Revenue Secretary Ajay Bhushan Pandey

The Income Tax Department has issued as much as Rs 1.57 lakh crore of income tax refunds in the first eight-and-a-half-months of the current fiscal compared to Rs 1.23 lakh crore in full 2018-19 fiscal, Revenue Secretary Ajay Bhushan Pandey said Friday

Is I-T Department planning to tax interest earned on income tax refund as part of reforms?

Interest on income tax refund arises principally because of the excess of advance tax and tax deducted at source (TDS) over the actual tax liability.

In 2 years, income tax payers to start getting refunds within 24 hours: Revenue Secretary Ajay Bhushan Pandey

The revenue department will put in place within two years a mechanism to ensure that all returns are processed within 24 hours and refunds issued simultaneously, an official said

Income Tax Department says refunds worth Rs 70,000 cr issued, 99% claims processed

Income Tax refunds worth over Rs 70,000 crore have been issued to the taxpayers and nearly all refund claims pending as on June-end has been processed, the Central Board of Direct Taxes (CBDT) said on Wednesday

Income Tax Department's warning to the salaried against bogus refund claims smacks of inept assessment

Pleading and issuing warnings smack of ineptness, an ineptness in making a proper assessment of refund claims filed through income tax returns (ITRs).

Income tax dept is in no mood for giveaways, that email on hefty refund is fake

Income tax officials say that it is a fraud to trap common man

Good news: Tax payers to get tax refunds in just 7-10 days as e-filing boosts efficiency

The new e-filing system, enabled only last month, allows online verification of a person's ITR by using either Aadhaar number