Income Tax : Learn how to validate bank accounts for income tax refunds for AY 2024-25. Ensure a smooth refund process by following these essen...
Income Tax : Learn about interest rates applicable to income tax refunds and short tax payments under Income Tax Act. Find out how to calculate...
Income Tax : Legal Entity Identifier (LEI) No. has become mandatory for non-individual entities when it comes to the credit of income tax refun...
Income Tax : Learn about income tax refund set-off under Section 245. Discover the process, rights, and implications for taxpayers. Get insight...
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...
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 : 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...
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 remarkab...
Income Tax : Vijayawada Division's Income Tax Department warns against false refund claims and wrongful deductions. Learn the consequences and ...
Income Tax : Explore the Bombay High Court's ruling on the refund issue in Grace Associates Vs Union of India case. Detailed analysis and impli...
Income Tax : Read about the Bombay High Court's judgment in Ceat Limited Vs CIT, where Ceat was entitled to interest on a tax refund exceeding ...
Income Tax : Taxpayer alleges illegal adjustments in refund by Income Tax Dept. Read the full text of the judgment by Madras HC and its implica...
Income Tax : Read the full text of the Bombay High Court's order directing the deposit of an Income Tax refund amount with Prothonotary and Sen...
Income Tax : Madras High Court directs swift tax refund to Coda Global LLC after Income Tax delay. Learn about case, judgment, and implications...
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...
Income Tax : Discover how TDS charge officers verify high-risk refund cases using Insight Instruction No. 76. Learn about the SOP, steps, and f...
Income Tax : Facing a delayed income tax refund for AY 2021-22 due to technical issues? The CBDT offers relief! Electronically filed returns wi...
Income Tax : Government of Indias CBDT extends the processing time for electronically filed income tax returns and refund claims under section ...
The I-T department has decided to extend the Refund Banker Scheme that allows refund of excess tax money to taxpayers to nine more cities, including Ahmedabad and Kochi.
In exercise of the powers conferred by sub-rule (2) of rule 17A of the Maharashtra Value Added Tax Rules, 2005, the requisite notification cited at reference was issued. As a result of this notification every registered dealer who is entitled to claim refund as provided under section 51 of Maharashtra Value Added Tax Act, 2002 was required to file refund application in Form-501 electronically. The electronic filing of said application was made mandatory with effect from 1st October 2009.
Information has been received from several quarters that people are receiving electronic mails informing them of their income-tax refunds and seeking their credit card details. The e-mail is sent from the following or similar mailing addresses.
Refund scheme to exporters was introduced by notification no. 41/2007 dated 6th Oct 2007. The scope of refund was enhanced from time to time along with the procedural changes. To make the scheme simple and ensure speedier disposal, two notifications 17-2009-ST and 18-2009-ST have been issued on 7th July 2009 superseding the earlier scheme.
Even as income-tax payers grapple with non-acceptance of their returns, it’s surely not a good time to expect refunds. Refunds across the country will be enormously delayed as the software at the new Centralised Processing Centre (CPC) of the I-T department is yet to be rid of bugs. The net result is that processing tax returns […]
Refund audit of previous period: To become eligible under this Trade Circular, at least one refund audit of the claimant dealer should have been completed in respect of at least one previous period. This condition will however be not applicable to the newly registered dealers for refund claim of first year.
Learn about the new amended form No. 704 under the MVAT and the issues surrounding it. Get insights into additional responsibilities for auditors and welcome changes in this blog post.
The Commissioner of Sales Tax, Maharashtra hereby provides that the registered dealers who are entitled to claim the refund as provided under section 51 of the Maharashtra Value Added tax Act, 2002, Shall on or after 1st October 2009, Electronically upload the application in form 501, provided on the website of the Sales Tax Department.
The salient features of the MVAT Act amendments are briefly explained below: 2. Revised Returns-Section 20 (4) is substituted:- Earlier the revised returns could be filed anytime before the notice for assessment was served or within nine months from the end of the year, to which the return relates, whichever is earlier. Certain contingencies were not covered under aforesaid provision. Due to this many dealers could not file the revised returns in certain situations. Now section 20(4) is substituted and its scope is expanded to cover the following situations also:
Speeding up the process of filing income-tax returns and making it more convenient, a software called `Uttam Sewa’ has been prepared by the department concerned to facilitate the work of over three lakh assessee across city and Mohali. Scheduled to be launched in the city by July 15, the software will not only ensure a […]