It Refunds News Today

The survey further reveals that not only has the refund timing been reduced, individual taxpayers have also reported simplification of the refund process with 90% of taxpayers getting automatic refunds. Also 75% of the individual taxpayers did not have to pay extra tax beyond the tax deducted at source (TDS).

Wrong Income Tax Refund Malpractice: Andhra Pradesh and Telangana state employees and tech employees have claimed wrong deductions and exemptions in their Income Tax returns. Tax officials are going to recheck the files and will register cases against the wrongly claimed refunds by intermediaries.

FBR pays Rs176bn sales tax refunds in 6MFY23

If a taxpayers taxes have been paid in excess of their tax liability, they are entitled to a refund.

The Income Tax department on Wednesday said that the Central Board of Direct Taxes has issued refunds of over Rs 1,12,489 cr to more than 91.30 lakh taxpayers from 1st April 2021 to 1st November 2021. The IT department added that refunds of Rs 33,548 crore have been issued in 89,53,923 cases and corporate tax refunds of Rs 78,942 crore have been issued in 1,75,692 cases. ALSO READ | Sensex rises over 250 pts in early trade; Nifty tops 17,900

Refunds amounting to more than Rs 92,961 crore have been issued to taxpayers during the current financial year. 

The CBDT said that IT refunds worth Rs 14,608 crore and Rs 35,088 crore Corporate tax refunds have been issued so far.

I-T refunds of over Rs 2.04 lakh crore issued so far in FY21 SECTIONS Last Updated: Mar 17, 2021, 04:57 PM IST Share Synopsis Of this, personal income tax refunds of Rs 73,607 crore have been issued to over 2.06 crore taxpayers and corporate tax refunds of over Rs 1.31 lakh crore issued in 2.21 lakh cases. ThinkStock Photos "CBDT issues refunds of over Rs 2,04,805 crore to more than 2.09 crore taxpayers between 1st April, 2020 to 15th March,2021," the department tweeted. The Income Tax Departme...

This includes Personal income tax (PIT) refunds amounting to Rs 53,070 crore and corporate tax refunds of over Rs 1.10 lakh crore during this period.

I-T refunds worth Rs 1.64 lakh cr issued to 1.41 crore taxpayers till January 4 The Department on Tuesday had said that over 5 crore income tax returns (ITRs) for fiscal year 2019-20 have been filed till January 4 PTI | January 6, 2021 | Updated 13:52 IST The Income Tax department on Wednesday said it has issued refunds worth over Rs 1.64 lakh crore to over 1.41 crore taxpayers so far this fiscal. This includes Personal income tax (PIT) refunds amounting to Rs 53,070 crore and corporate tax r...