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...
Income tax department’s schemes for speedy issuance of I-T refunds seem to be paying off well. Income tax refunds have picked up encouragingly during the first eight months of the current fiscal by 6.7 per cent compared to the corresponding period a
An alleged scam involving realisation of bogus income tax refund has come to light here after a man tried to deposit fake refund cheques to the tune of Rs 47 lakh, officials said today. Police, on the complaint of Ludhiana Income Tax Department
Worried over reports of alleged corruption especially in issuing refunds to taxpayers, the Income Tax Department has brought its own officials under strict vigilance scanner and has issued instructions to the top brass to constantly monitor the proce
At a time when direct tax collections increased 19%, the tax department has failed to adhere to its own compliance when it comes to tax refunds of salaried employees, with the backlog of 2007-08 still not cleared. Mumbai, which contributes close to 4
This is the time of the year when tax payers look forward to getting refunds from the IT Department if eligible. But for roughly seven out of 10 cases, income tax refunds have remained elusive for no fault of the tax payers. The income tax department maintains that it is also not at fault. According to senior taxmen, they reject an overwhelmingly large number of eligible cases every year for what they call the incidence of missing entries.
Haven’t got your income tax (I-T) refunds? Here is the reason – the department has not processed close to 20 lakh returns filed by taxpayers in Mumbai. The issue was taken up by Chief Commissioner of Income Tax, Mumbai, P. P. Srivastava, who recently took charge, during a meeting with senior officials on Thursday.
Many Taxpayers had a tough time getting a refund of the tax deducted against his fixed deposits with public sector banks, as the tax deduction at source (TDS) certificates issued to them by the banks did not mention there permanent account number (PAN). Depositors of banks and post offices — especially pensioners — are put to a lot of trouble at the time of filing tax returns and claiming refunds, as these organisations often issue incomplete or incorrect certificates.
The Income Tax (IT) department in Hyderabad is sitting on a huge pile of cash that it should have returned long ago to those whom the money legitimately belongs: the tax payers. But hiding behind technicalities the department has not bothered to return the money which runs into a whopping Rs 1000 crore.
Exporters are demanding refund of taxes on diesel as they fear that subjecting the fuel to global rates would create problems for a power-starved industry, which depends on it for daily operations. Any decision to decontrol diesel prices, even in a phased manner, would affect exporters as they are dependent on diesel due to erratic electricity supply, apex exporters’ body FIEO said.
Admitting that many Income Tax refunds were still pending, the I-T Department decided to “clean up the mismatched TDS database” due to which the refunds were held up. An I-T Department release said, “The Income Tax Department has taken the initiative to clean up the mismatched TDS data base. Many refunds are pending with the IT Department due to the mismatch of tax paid by the assessee, but the same is not being reflected in the computer software of the department.”
