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...
Delays in income tax refunds, even after the stipulated number of months, are faced by many tax payers. Running from pillar to post at the income tax office, having to deal with impolite income tax officials become a part of the ordeal.
DELAYS AREN’T DENIALS -Before getting into the actual process, it is important to know some of the reasons that may have caused the delay. If your bank account details or your PAN number is entered incorrectly in the form or you end up filing your tax in the wrong ward/circle, then the chances for delay are high.Tax authorities have especially been known to cause delays in cases where the amount to be refunded exceeds Rs 5 lakh, citing additional approvals as the reason. Delay could also be caused if litigation is pending against the refund claimed or against any other issues with higher level of authority. For instance, if an individual is in appeal with Commissioner of Income Tax (Appeals) against an order passed by the assessing officer (AO) level, in our experience, the refund is generally not issued by the AO even though there is nothing in the law to this effect.
For the change in Address and all address related issues. Taxpayer has to Login to http://incometaxindiaefiling.gov.in. a. Login to the above website, where in the login id will be the PAN Number and Password is which is created when logging in for the first time. b. Now Go to ‘My Account’. In the drop down click on ‘Service Request. c. In the ‘Request Type’ click on ‘New Request’, And select ‘Request Category’ as ‘Refund Reissue’. d. Refund re-issue address has a drop down arrow where you can select to which address the refund cheque needs to be dispatched.
Unfortunately in our country, many honest tax-payers have pending income tax refunds. Whether it’s the Income Tax (I-T) department’s lethargy or the growing number of tax payers, delayed refunds remain high on the list of complaints against the department. One of the challenges for any tax payer is getting a refund, because it is a lengthy and time-consuming process.
1. You can pay taxes from any location at any time through your net-banking account.2. Instant transfer of funds from your account. 3. What you write on the e-challan will be directly sent to Income Tax Department. Banks will not do any data entry
M/s. OMIL JSC (JV) Kameng Kota. Vs Dy. CIT (ITAT Jaipur) The limited issue under consideration relates to whether interest on income tax refund is eligible for deduction under section 80IE of the Act. The contention of the assessee is that it has only one business undertaking and the only business of the undertaking is […]
The Income Tax Department observed a dedicated fortnight from 1st to 15th June, 2018 to expeditiously clear pending matters of appeal effect and rectification. More than 20,000 such matters were disposed of and refunds were issued to the taxpayers, wherever due. Seeing the success of this initiative, the special drive was extended in certain regions up to 30th June, 2018.
CIT Vs. P.N. Writer (Bombay High Court) Assessee was entitled to the interest on refund arising on excess payment of self-assessment tax under section 244A, despite the revenue’s contention that assessee had failed to produce any material which would demonstrate how this tax was worked out, and particularly during the course of self-assessment, since the […]
Beware of phishing and fraudulent scams related to income tax. Learn how to identify and report phishing emails and fake websites.
CBDT Circular No. 9/2015-Income Tax, dated 09th June 2015 provides assessee a right to apply for condonation of delay in claiming the refund or carry forward the losses. So, in case, a assessee has missed the deadline of March 31, 2018 to file the return for FY 2015-16 and FY 2016-17, he can claim the refund by following the guidelines as described in this circular.
