Income Tax : The framework clarifies that refunds can be claimed only through valid ITR filing and mandatory verification. It emphasizes proced...
Income Tax : The new Act continues the existing tax payment framework without altering compliance obligations. It simplifies presentation while...
Income Tax : Learn why refund claims are being paused under a risk-based system and how timely reconciliation or revision can ensure smooth pro...
Income Tax : Automated risk alerts are delaying income-tax refunds without clear reasons. The law allows withholding only through statutory pro...
Income Tax : Learn why the Income Tax Department is sending risk management SMS alerts and how they differ from scrutiny notices. This guide ex...
Income Tax : India's net direct tax collections fell by 1.34% to ₹562,827 crore by July 10, 2025, despite a 3.17% rise in gross collections, ...
Income Tax : Income Tax Department warns against wrongful refund claims in ITRs. Explains consequences like penalties, scrutiny, prosecution, a...
Income Tax : Out of 3.94 crore valid ITRs for AY 2024-25, refunds were processed for 3.68 crore. Reasons for delays include invalid bank detail...
Income Tax : The Finance Act 2023 integrates sections on refund set off and withholding into section 245 of the Income-tax Act, impacting how r...
Income Tax : Learn about the rise in tax returns filed in India, targeted campaigns encouraging filings, and steps taken by the government for ...
Income Tax : The Kerala High Court held that delay condonation applications under Section 119(2)(b) must comply with the revised five-year limi...
Income Tax : The Court held that adjusting a refund against a disputed demand during the subsistence of a stay order is illegal and arbitrary, ...
Income Tax : High Court held that adjusting the entire refund during operation of a Tribunal stay order contravened the order and required refu...
Income Tax : The Court directed the PCCIT to appoint a senior officer to re-examine a refund claim where both parties lacked decades-old record...
Income Tax : The Court directed tax authorities to release refund under Sections 240 and 244A with interest calculated up to the actual date of...
Income Tax : SOP for investigating high-risk refund cases for AY 2024-25. Clusters of suspicious ITRs identified and disseminated for verificat...
Income Tax : Insight Instruction No. 8 guides Assessing Officers in verifying high-risk refund ITRs for AY 2024-25, detailing steps for verific...
Income Tax : CBDT issues comprehensive guidelines for condonation of delay in filing returns claiming refunds or losses under Section 119(2)(b)...
Income Tax : Explore detailed guidelines & procedures for verifying high-risk refund cases using Insights investigation tool. Learn how to navi...
Income Tax : Discover how jurisdictional assessing officers verify high-risk refund cases with Insight Instruction No. 77. Learn the SOP and st...
Chief Commissioner (Admn.) & Commissioner of Income Tax Vs N.K. Mohnot (Additional Chief Metropolitan Magistrate (E.O.I, Egmore-Chennai) The case arose out of a complaint been filed by the complainant, the Chief Commissioner of Income Tax (Administration) and Commissioner of Income Tax at the instance of the Commissioners of Income Tax of wages Division in Tamilnadu, […]
Get insights into the complexities of claiming income tax refunds. Understand the process and eligibility criteria for receiving refunds.
If there is one area in the income-tax administration which has remained perennially incurable, it is the Refunds, we shows you an easy way to solve the problem. In a Press Release dated April 19, 2007, the Central Board of Direct Taxes stated: “It has been reported in some sections of the media that a large number of taxpayers are awaiting refunds from the income-tax department for up to three years. These reports are factually incorrect and based on incomplete appraisal of facts”. As per the statement made by Minister of State for Finance, there have been instructions to issue refunds within four months from the date of receipt of return and dispatched within 30 days from the date of signing the refund order. I am sure most readers would doubt the correctness of the above Press Release and Statement. You may not have received refunds for one or more earlier years despite many reminders, personal visits, and grievance-cell applications. It is a helpless and hopeless situation.
CIT Vs Syndicate Bank (Karnataka High Court) Conclusion: When an order of refund was issued, the same should include interest payable on the amount, which was refunded. If the refund did not include interest due payable on the amount refunded, the revenue would be liable to pay interest on the short fall. This did not […]
Understanding the set off of refunds against tax remaining payable under Section 245 of the Income Tax Act, 1961. Learn how this provision empowers the authorities to adjust outstanding demand with refund amounts.
Following is the summary of Suggestion /representation on behalf of the taxpayers/professionals in connection with the Direct tax related matter. Detailed reasoning of same is provided in subsequent paragraphs.
Maruti Suzuki India Ltd Vs CIT (Appeals) (ITAT Delhi) The Honorable Delhi ITAT recently adjudicated an appeal filed in the case of Maruti Suzuki India Ltd vs Commissioner of Income Tax (Appeals)-IX (ITA No. 2553, 2641/Del/2013) wherein the case before the Tribunal was related to the provisions of section 244A of the Income Tax Act. Post […]
Conner Institute of Health Care And Research Centre Pvt. Ltd. Vs ITO (Delhi High Court) The exercise of withholding of refund under section 241A of the Act, pursuant to notice u/s 143(2) of the Act, without recording justifiable reasons, is not in consonance with the legislative intent and mandate of the aforesaid provision. The reasons […]
The issue under consideration is whether the delayed payment of interest on delayed refund becomes part of the principal amount will be eligible for interest under Section 244A?
As per tweet by CBDT on its official Handle-From 1st April onwards CBDT has, so far, issued refunds of over Rs. 88,652 crore to more than 24.64 lakh taxpayers from 1st April, 2020 onwards. Income tax refunds of Rs. 28,180 crore have been issued in 23,05,726 cases & corporate tax refunds of Rs. 60,472 crore […]
