E-PaperTax Refunds News
Govt refunds ₹26,000 crore to 1.6 million taxpayers
The government has expedited the process of clearing tax refunds to improve payers’ liquidity amid an unprecedented lockdown that has brought the economy to a grinding halt
1 min read22 May 2020How to protect yourself against fake tax refund messages
Many individuals started receiving fake messages, which stated that the I-T department is providing relief to all taxpayers due to covid-19 outbreak. The message contained a link that the individual needs to click to claim tax refund.The tax department doesn't ask taxpayers to verify bank account details. The refund is sent directly to the bank account that the individual discloses at the time of filing the returns.
2 min read6 May 2020Income Tax dept taking action against refund claims based on bogus investments
Regretting that people are claiming bogus refunds, Central Board of Direct Taxes (CBDT) chairman Sushil Chandra said it was time that people change their mentality and pay their due share of taxes honestly.
1 min read20 Dec 2018Direct tax collection to exceed target this fiscal: CBDT chief
The I-T department issued ₹1.15 lakh crore worth of refunds: CBDT chairman Sushil Chandra
1 min read14 Nov 2018Exporters get back 94% of GST refund claims
Finance ministry says up to October-end ₹82,775 crore had been given as refunds to exporters by Union and state authorities
1 min read8 Nov 2018Opinion | Why can’t taxpayers adjust their refunds?
Rate of interest payable on delays is thrice of the interest received on refunds
4 min read30 Aug 2018Net direct tax receipts rise 19.3% in April-January
Direct tax collections for the 10-month period rise to Rs6.95 trillion, says CBDT
1 min read10 Feb 2018GST: Fresh concessions on cards for exporters?
A parliamentary panel has asked the finance ministry to allow exporters to use the old system of refunds to mitigate the compliance burden incurred in transitioning to GST
2 min read30 Nov 20174 million income taxpayers spared from demands for return discrepancies
About 4 million income taxpayers, who were to get extra tax demands for their FY17 income due to discrepancies in their tax returns, will now be spared
2 min read26 Oct 2017GST Council set to consider measures to help exporters
GST Council may allow exporters refunds without waiting for invoice details of raw materials and other purchases, but based on summary of all transactions and details of exports made
2 min read3 Oct 2017Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared