ITR filing 2024: If you have submitted your income tax return (ITR) and verified it with the Income Tax Department, there is a chance that you have not received your tax refund yet. Numerous taxpayers have reported a delay in receiving their income tax refund, with some waiting up to six months. One must note … Read more
State-owned Indian Overseas Bank (IOB) shares climbed as much as 4.7% on Wednesday to Rs 59.50 on BSE after the bank said it has received an order confirming a refund of Rs 1,359.29 crore for the assessment year 2015-16, including interest under Section 244A. “As per the order dated 17.08.2024, the amount refundable to the … Read more
With the tax season for the Assessment Year 2024-25 closing, many taxpayers are eagerly awaiting their income tax refunds. However, there are a few reasons why your refund might be delayed, one of which is the issue of a defective Income Tax Return (ITR). Over 7 crore ITRs were filed before the deadline on July … Read more
Suppose the income tax refund issued to you is lower than the amount you claimed due to the Tax deducted at Source (TDS) credit denial in Form 26AS. In that case, you can request the remaining tax refund by filing a rectification request under Section 154 of the Income-tax Act, 1961. When the taxpayer submits … Read more
ITR filing AY2024-25: Filing your returns is a lengthy task and therefore, should be planned step by step. While the deadline of filing your Income Tax Returns (ITR) was July 31, just filing the returns is not enough. It is crucial to highlight that the Income Tax Return (ITR) process goes beyond simply submitting the … Read more
ITR filing deadline: The deadline for filing of income tax returns, July 31, is unlikely to be extended. Taxpayers would need to file ITR for the Assessment Year 2024-25 or the financial year 2023-24 by the end of the day today. While many have urged the finance ministry as well as Finance Minister Nirmala Sitharaman … Read more
The income tax department on Thursday said it has issued refunds of over Rs 1.54 lakh crore to more than 1.59 crore taxpayers so far this fiscal. This includes 1.20 crore refunds of Assessment Year 2021-22 (fiscal ended March 31, 2021), amounting to Rs 23,406.28 crore. “CBDT issues refunds of over Rs 1,54,302 crore to … Read more
NEW DELHI: The Income Tax department has issued refunds worth over Rs 1.32 lakh crore to over 39 lakh taxpayers so far this fiscal. This include Personal income tax (PIT) refunds amounting to Rs 35,123 crore and corporate tax refunds amounting to Rs 97,677 crore during this period. “CBDT issues refunds of over Rs 1,32,800 … Read more