Income Tax : Learn why income tax refunds get delayed in AY 2026-27, how to track refund status, fix common issues, and claim interest under Se...
Income Tax : The provisions governing income tax refunds explain when excess tax paid can be claimed back, who is entitled to receive refunds, ...
Income Tax : The document clarifies that taxpayers may be liable to pay interest under Section 234D when refunds granted under Section 143(1) e...
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 : 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 : Kerala High Court kept refund adjustment in abeyance, directing disposal of the pending rectification application before recovery ...
Income Tax : The Calcutta High Court held that adjusting admitted refunds to recover more than 20% of disputed tax demand during the pendency o...
Income Tax : The Calcutta High Court held that recovery exceeding 20% of the disputed tax demand during the pendency of an appeal before the CI...
Income Tax : The Calcutta High Court held that adjustment of a tax refund against a disputed demand could not be sustained while the stay appli...
Income Tax : The High Court found that withdrawal of garnishee notices and compliance with the CBDT Office Memoranda entitled the assessee to s...
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...
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 […]
Understanding Section 241A: Withholding of Income Tax Refund. Learn about the process of claiming a refund for excess income tax paid.
