Live Breaking News & Updates on Income tax refund

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Does choosing old tax regime for TDS on salary lead to smoother ITR processing, income tax refund claims?

TDS on salary, income tax refund: A salaried is required to choose tax regime twice - one for tax deducted on salary by employer and secondly while filing ITR.

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LIC expects income tax refund of Rs 25,464 cr in Q4

Life Insurance Corporation of India has received an income tax refund order of Rs 25,464 crore, and it is likely to be realised during the current quarter, its chairman Siddhartha Mohanty said. Last month, the Income Tax Appellate Tribunal (ITAT), Income Tax Department, issued intimation for a refund of Rs 25,464.46 crore. The refund is related to interim bonuses to policyholders in the past seven assessment years.

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LIC expects income tax refund of Rs 25,464 crore in Q4

India Business News: NEW DELHI: Life Insurance Corporation of India has received an income tax refund order of Rs 25,464 crore, and it is likely to be realised during the .

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ITR refund: Wait for unprocessed income tax refund to get longer; deadline extended by 3 months

Income tax refund: Individuals who have pending income tax refund due to the fact that their income tax return (ITR) was not processed by the income tax department would now get their income tax refund by April 30, 2024. However not all individuals would get tax refund, read here to know who gets and who does not.

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LIC gets income tax refund of Rs 25,464 cr

In the first half of the current financial year, LIC's new business premium income (individual) segment registered a 2.65 per cent growth to Rs 25,184 crore as against Rs 24,535 crore in the year-ago period, as per the filing. New business premium is the premium due in the first policy year of a life insurance contract.

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These individual taxpayers will get old income tax refund by January 31, 2024

Income tax department has passed an order stating that individuals who had filed ITRs for AY 2018-19 (FY 2017-18), AY 2019-20 (FY 2018-19) and AY 2020-21 (FY 2019-20) and still not received their income tax refund yet, would now get so by January 31, 2023. However if an individual has got an tax demand at the time of ITR filing or after processing of ITR, this relaxation would not be applicable.

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Automation boosts taxpayers' trust - 89 per cent report swift income tax refunds: CII survey

Automation boosts taxpayers' trust - 89 per cent report swift income tax refunds: CII survey
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89% individuals say income tax refund faster now, finds CII survey

89% individuals say income tax refund faster now, finds CII survey
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R Madhavan "Totally Impressed" As Firm Gets Income Tax Return In 3 Weeks

"The speed and promptness is simply unheard of," the actor said in his post on social media.

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Want faster tax refund? Here's what taxman is advising you to do

According to official data, as many as 7.09 crore returns have been filed for income earned in 2022-23 fiscal. Of these, 6.96 crore ITRs have been verified, of which 6.46 crore returns have been processed as so far, including 2.75 crore refund returns.

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