Income Tax (ITR) Refund Status Online 2019-20: Once the Income Tax is filed, the IT department will undertake a series of actions to process the ITR. If a refund is due, it informs the tax payee via SMS or email.
Income Tax Return (ITR) Filing 2019-20 Refund Status Online: The Income Tax Department will “only” issue refunds via e-mode into bank accounts of taxpayers and they should link PAN with their accounts.
It said the order has been issued in public interest after a number of such requests were received by it from public sector banks (PSBs) seeking information of immovable assets of a loan defaulter to effect recovery from them.
The slew of charges, filed on May 23, the day Lok Sabha election results were announced, included making “scandalous” allegations against women Income Tax officers; making a “false facade of inquiries” against top officials of the Central Board of Direct Taxes (CBDT)
The Income-Tax Department said multinational companies that are incurring global loss, or profit margin of less than 2%, will be deemed to have made a profit of 2% of Indian revenue or turnover and will be taxed accordingly.
As it analyses bank deposits post-demonetisation, the government has found that an estimated Rs 3-4 lakh crore of tax-evaded income could have been deposited during 50-day window provided to get rid of junked Rs 500/1000 notes. A senior official said Income Tax Department has been asked to scrutinise details and send notices to depositors of […]