Income Tax Refund

LEI No. required for Credit of Income Tax Refunds of Rs. 50 crore and above

Income Tax - Legal Entity Identifier (LEI) No. has become mandatory for non-individual entities when it comes to the credit of income tax refunds of Rs. 50 crore and above. ...

Set-off and adjustment of income tax refund – Section 245 Explained

Income Tax - Learn about income tax refund set-off under Section 245. Discover the process, rights, and implications for taxpayers. Get insights into recent changes and how to respond to adjustments....

Advisory on Validating Bank Account on Income Tax Portal for Income Tax Refund

Income Tax - Check if your bank account is valid for refund. Learn how to update or revalidate your account details on the e-filing portal. Get assistance and support....

Wrong Income Tax Refund Claims: Consequences & Remedies

Income Tax - Explore the consequences of making incorrect income tax refund claims and the associated legal ramifications. Understand the penalties, fines, and potential imprisonment involved. Learn about Section 139(8A) for rectifying mistakes and ensuring compliance. Stay informed to maintain financial integrity. ...

How to Check & Change Bank Account for Income Tax Refund Online?

Income Tax - Learn how to view and change the bank account selected for your income tax refund online. Follow step-by-step instructions to validate and nominate banks...

Over 88% of ITRs Processed for AY 2023-24 with 2.45 Crore Refunds Issued

Income Tax - Ministry of Finance's latest update on Income Tax Returns (ITRs) for AY 2023-24. Over 6.84 crore ITRs verified, 2.45 crore refunds issued....

Huge Surge in Income Tax Refund in New Era of Tax Return Processing

Income Tax - From the time where tax payer will forget how much refund is yet to receive and when they will receive to now, there is a remarkable change, the Indian tax scenario has undergone a significant transformation, witnessing an extraordinary surge in the pace at which tax refunds are processed and allotted. According to the data […]...

Income Tax department warns against false refund claims & wrongful deductions

Income Tax - Vijayawada Division's Income Tax Department warns against false refund claims and wrongful deductions. Learn the consequences and rectify claims now....

Representation on delay in issue of refunds under Income-tax Act, 1961

Income Tax - Karnataka State Chartered Accountants Association (R.) addresses the significant issue of delay in income tax refunds. Read their comprehensive representation highlighting the challenges faced by taxpayers and suggestions for improvement....

EOW cracked a major PAN India income tax refund scam

Income Tax - EOW cracked a major PAN India income tax refund scam being  operated from Delhi NCR area. Economic Offences Wing, Bhubaneswar arrested accused Neeraj Singla (28 years age), a resident of Faridabad, Haryana, on 09.09.2022 in connection with EOW PS Case No.15 dt.27.08.2022 U/s 420/467/468/471/120-B IPC/ Sec.66 IT Act. The arrested accused ...

Madras HC Orders Swift Action on Delayed Income Tax Refund to Coda Global LLC

Coda Global LLC Vs DCIT (Madras High Court) - Madras High Court directs swift tax refund to Coda Global LLC after Income Tax delay. Learn about case, judgment, and implications. Stay informed on tax issues....

HC directs AO to pass appeal effect order & Issue Income Tax refund with interest

Brillon Consumer Products Pvt. Ltd—Earlier Known as Karamchand Appliances Pvt. Ltd. Vs DCIT (Delhi High Court) - Explore Delhi High Court's directive in case of Brillon Consumer Products Pvt. Ltd. vs. DCIT. Detailed analysis of IT refund and appeal effect order....

CCIT has no jurisdiction if Income Tax refund claim exceeds Rs. Ten Lakhs: Kerala HC

Punnorath Meethal Sankaran Vs ITO (Kerala High Court) - Read about Punnorath Meethal Sankaran vs ITO case: Kerala HC sets aside order rejecting condonation of delay in filing income return. Jurisdiction issue in refund claims above 10 Lakhs....

Withholding Refund Unjustified without Fulfilling Section 241A Provisions

Myntra Designs Private Limited Vs National Faceless Assessment Centre (Karnataka High Court) - Karnataka High Court held that withholding of refund without satisfying requirements of provisions of section 241A of the Income Tax Act is unsustainable in law. Accordingly, refund along with interest allowed....

Delhi HC Directs Income Tax Refund Release: Tirupati Buildings Case

Tirupati Buildings And Offices Private Limited Vs CIT (Delhi High Court) - Delhi High Court orders Income Tax Department to release Rs. 87,89,440 refund to Tirupati Buildings Private Limited, adjusted against outstanding demand for AY 2011-12....

Income Tax Refund for AY 2021-22: Delayed Returns Processing

Order No. 225/132/2023/ITA-II - (01/03/2024) - Facing a delayed income tax refund for AY 2021-22 due to technical issues? The CBDT offers relief! Electronically filed returns with refunds can now be processed, even if past deadlines were missed. Learn more and claim your refund!...

CBDT Extends Processing Time for E-Filed Returns and Refund Claims

Order No. 225/132/2023/ITA-II - (31/01/2024) - Government of Indias CBDT extends the processing time for electronically filed income tax returns and refund claims under section 143(1) of the Income-tax Act, 1961. Details and updates....

CBDT Extends Income Tax Refund Claim Processing Deadline

F. No.225/132/2023/ITA-II - (01/12/2023) - Introduction: On the 1st of December, 2023, the Central Board of Direct Taxes (CBDT), under the Ministry of Finance, issued a crucial order under section 119 of the Income-tax Act, 1961. The order addresses the processing of electronically filed income tax returns with refund claims, extending the d...

Revised Guidelines for Withholding Refunds under Section 245(2) – Income-tax Act 1961

Instruction No. 02/2023 - (10/11/2023) - Stay updated on the latest Instruction No. 02/2023 from the Ministry of Finance. Learn about revised timelines, monetary limits, and workflow for withholding refunds under Section 245(2) of the Income-tax Act, 1961...

CBDT Extends Deadline for Income Tax Refund Claims

F. No. 225/132/2023/ITA-II - (16/10/2023) - CBDT, under the Ministry of Finance, extends the deadline for processing refund claims under section 143(1) to mitigate taxpayer hardships....

Recent Posts in "Income Tax Refund"

Income Tax Refund for AY 2021-22: Delayed Returns Processing

Order No. 225/132/2023/ITA-II 01/03/2024

Facing a delayed income tax refund for AY 2021-22 due to technical issues? The CBDT offers relief! Electronically filed returns with refunds can now be processed, even if past deadlines were missed. Learn more and claim your refund!...

CBDT Extends Processing Time for E-Filed Returns and Refund Claims

Order No. 225/132/2023/ITA-II 31/01/2024

Government of Indias CBDT extends the processing time for electronically filed income tax returns and refund claims under section 143(1) of the Income-tax Act, 1961. Details and updates....

Madras HC Orders Swift Action on Delayed Income Tax Refund to Coda Global LLC

Coda Global LLC Vs DCIT (Madras High Court)

Madras High Court directs swift tax refund to Coda Global LLC after Income Tax delay. Learn about case, judgment, and implications. Stay informed on tax issues....

LEI No. required for Credit of Income Tax Refunds of Rs. 50 crore and above

Legal Entity Identifier (LEI) No. has become mandatory for non-individual entities when it comes to the credit of income tax refunds of Rs. 50 crore and above. ...

Posted Under: Income Tax | ,

HC directs AO to pass appeal effect order & Issue Income Tax refund with interest

Brillon Consumer Products Pvt. Ltd—Earlier Known as Karamchand Appliances Pvt. Ltd. Vs DCIT (Delhi High Court)

Explore Delhi High Court's directive in case of Brillon Consumer Products Pvt. Ltd. vs. DCIT. Detailed analysis of IT refund and appeal effect order....

CCIT has no jurisdiction if Income Tax refund claim exceeds Rs. Ten Lakhs: Kerala HC

Punnorath Meethal Sankaran Vs ITO (Kerala High Court)

Read about Punnorath Meethal Sankaran vs ITO case: Kerala HC sets aside order rejecting condonation of delay in filing income return. Jurisdiction issue in refund claims above 10 Lakhs....

Set-off and adjustment of income tax refund – Section 245 Explained

Learn about income tax refund set-off under Section 245. Discover the process, rights, and implications for taxpayers. Get insights into recent changes and how to respond to adjustments....

Posted Under: Income Tax |

Withholding Refund Unjustified without Fulfilling Section 241A Provisions

Myntra Designs Private Limited Vs National Faceless Assessment Centre (Karnataka High Court)

Karnataka High Court held that withholding of refund without satisfying requirements of provisions of section 241A of the Income Tax Act is unsustainable in law. Accordingly, refund along with interest allowed....

Delhi HC Directs Income Tax Refund Release: Tirupati Buildings Case

Tirupati Buildings And Offices Private Limited Vs CIT (Delhi High Court)

Delhi High Court orders Income Tax Department to release Rs. 87,89,440 refund to Tirupati Buildings Private Limited, adjusted against outstanding demand for AY 2011-12....

Income Tax Refund adjusted without Section 245 notice: HC directs issue of refund

Syed Habeebur Rehman Vs DCIT Circle 28(1) & Ors. (Delhi High Court)

Delhi High Court directs Income Tax Department to remit Rs 44.6 lakhs refund in the Syed Habeebur Rehman vs. DCIT Circle 28(1) & Ors. case, resolving a dispute over AYs 2010-11 and 2014-15. Full judgment details....

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