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INCOME TAX REFUNDS NEWS

I-T refunds worth Rs. 1.18 lakh cr issued to 33.54 lakh taxpayers till Sep 29

September 30, 2020 5:24 pm

This include personal income tax (PIT) refunds amounting to Rs. 32,230 crore issued to 31.75 lakh taxpayers, and corporate tax refunds amounting to Rs. 86,094 crore to over 1.78 lakh taxpayers during this period.

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Income Tax refunds worth Rs 88,652 crore issued to 24.64 lakh taxpayers so far this fiscal

August 21, 2020 3:53 pm

This include personal income tax (PIT) refunds amounting to Rs 28,180 crore issued to over 23.05 lakh taxpayers and corporate tax refunds amounting to Rs 60,472 crore to over 1.58 lakh taxpayers during this period.

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Apr 8-Jun 30: I-T refunds worth `62,361 crore issued to 20.44 lakh taxpayers

July 04, 2020 1:02 am

The Department processed 20.44 lakh cases within the 56 week days in this period. On April 8, the Centre had announced that it would release pending I-T refunds to help businesses and individuals tide over the potential cash flow issues due to lockdown.

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To boost liquidity, IT dept issues refunds worth Rs 26, 242 cr to taxpayers

May 22, 2020 6:14 pm

The refund process, which is being done as part of efforts to make liquidity available with people and firms to deal with the pandemic has been further expedited at a greater pace since Finance Minister Nirmala Sitharaman's announcement made in the 'Atmanirbhar Bharat Abhiyan' last week.

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Centre to immediately clear all pending income tax refunds up to Rs 5 lakh

April 08, 2020 7:32 pm

In a statement issued by the Finance Ministry, the government said that this move would benefit as many as 14 lakh taxpayers in the country.

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Give details of top-50 cases for 3 years, House panel asks revenue department

September 10, 2018 12:26 am

‘Committee alarmed to observe over Rs 1.26 lakh crore refunds in direct tax up to Jan 2018 (for FY18)’

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Preponement of income tax return deadline drives up e-return numbers

September 08, 2018 12:54 am

In the 2018-19 financial year, the tax department announced that returns filed after August 31, 2018, will attract penalty of Rs 5,000.

Income Tax refunds worth Rs 70,000 crore issued, 99 per cent claims processed: CBDT

July 05, 2018 11:34 am

The Income Tax Department had observed a dedicated fortnight from June 1-15, which was later extended to June 30 in certain regions, to expeditiously clear pending matters of appeal effect and rectification.