Many seniors mistakenly believe they need not file returns if tax is deducted at source (TDS) on income received. This is incorrect.
Rahul Gandhi's mother and senior Congress leader Sonia Gandhi has also got at least five refunds since the assessment year 2001-02, but there is no adjustment against any outstanding demand for her in this time period.
Chinese sporting authorities have cancelled next month's friendly international between Argentina and Nigeria amid a growing backlash against Lionel Messi's failure to play in an Inter Miami match in Hong Kong last week.
The country's gross GST collections hit a record high of Rs 2.10 lakh crore in April, growing 12.4 per cent year on year driven by a strong increase in domestic transactions and imports. GST collections breach landmark milestone of Rs 2 lakh crore, the finance ministry said in a statement.
Better protection for depositors and investors was one of the chief considerations in Union Finance Minister Nirmala Sitharaman introducing, on Friday, the Banking Laws (Amendment) Bill, 2024, in the Lok Sabha to amend four pieces of legislation. This amendment is also to improve audit quality in public-sector banks (PSBs), offer consistency in reporting by banks to the Reserve Bank of India (RBI), and provide for an increase in the tenure of directors in cooperative banks.
The net direct tax collection so far this fiscal rose 19.41 per cent to Rs 14.70 lakh crore, reaching about 81 per cent of the full-year target, the income tax department said on Thursday. "The provisional figures of Direct Tax collections up to January 10, 2024, continue to register steady growth," the Central Board of Direct Taxes (CBDT) said in a statement. Direct Tax collection, net of refunds, stood at Rs 14.70 lakh crore which is 19.41 per cent higher than the net collection for the corresponding period of last year.
The government has already sanctioned Rs 4,200 crore for upgradation of information technology infrastructure of Central Board of Direct Taxes (CBDT) for processing returns, refunds, faceless scrutiny and verification.
It is advisable to file your ITR right away and not rely on potential extensions.
In the era of e-filing, small mistakes lead either to delayed or complete denial of income tax refunds. So, avoid these 5 common mistakes that could lead to delay in refunds.
A taxpayer who does not revise their return within the stipulated deadline would be stuck with the original return, including its errors.
'Despite rising inflows, many NRIs lack awareness about NRO and NRE accounts and mistakenly use family accounts or invest in a relative's name.' 'Many are unaware of tax implications.'
Purchase health insurance at an early age, before you incur a disease, as this makes access to health insurance difficult and raises the premium significantly.
Recognising job creation for the youth as the foremost challenge for the economy, Finance Minister Nirmala Sitharaman on Tuesday announced a comprehensive Prime Minister's package to facilitate the employment and skilling of 41 million youth with a central outlay of Rs 2 trillion over the next five-year period. The package will consist of five schemes and initiatives - three focused on jobs and two on skilling.
GST collections in March grew 11.5 per cent to Rs 1.78 lakh crore, buoyed by domestic transactions, the finance ministry said on Monday. The gross GST collection for the last fiscal (April 2023-March 2024) stood at Rs 20.14 lakh crore, 11.7 per cent higher than the mop-up in the preceding fiscal. The average monthly gross collection for FY24 stood at Rs 1.68 lakh crore, exceeding Rs 1.5 lakh crore in the preceding fiscal.
Tax refunds take their own sweet time to arrive. But there are ways you can ensure that you are not a tax refund case.
The CAB has promised to also work out a mechanism for refund of tickets sold offline once its offices reopen on Tuesday.
Sebi says it will directly transfer the refund money to the bank accounts of genuine investors.
Though seven opportunities have been granted to the states, it appears that full compliance has not been affected and several states are in default, it said.
Section 19(4) of the RERA Act entitles allottees to a refund if the developer doesn't comply with the terms of the sale agreement.
Finance Minister Nirmala Sitharaman on Thursday said there are no changes in tax rates for direct and indirect taxes, including import duties. She also said the number of tax filers has swollen 2.4 times and the direct tax collection has trebled since 2014.
Schalke went a step further asking fans to explain their exact reasons for demanding a refund, such as financial hardship, and to submit supporting documentation.
Once the formalities are completed, we think little about any tax refunds. Tax refunds are something that a few of us might get and a few of us might not. To be prepared it is prudent to know some basic information about tax refunds.
The Ministry of Heavy Industries (MHI) has debarred Hero Electric and Benling India, two defaulters under its flagship Faster Adoption and Manufacturing of Electric Vehicles in India Phase-II (FAME-II) scheme, from participating in any of its incentive programmes in future. This action follows the ministry's findings that the phased manufacturing programme (PMP) guidelines were violated by these two companies, senior officials told
The great Wednesday clash between the year's big releases have been postponed by a day.
Sebi says Sahara investors refunded over Rs 42 cr.
The Indian Institutes of Science Education and Research, Bhopal (IISER) is inviting applications from science students for its 5-year BS-MS programme and 4-year BS in Engineering Sciences and Economic Sciences.
Taxpayers are filing their income tax returns (ITRs) early for the Assessment Year 2024-25 (FY25). By April 29, over 592,000 returns were filed, with over 538,000 verified and 367,000 processed. Early filing allows revisions without penalties.
The GST Council on Saturday is expected to extend the date for IGST exemption and cess on imports
The airline has also decided that no penalties will be levied on tickets refunded/re-validated/re-issued/re-booked on a subsequent flight, due to flight disruptions, cancellation or combination or over-flying/delay of over an hour.
In a setback to the Centre, the Supreme Court on Thursday held that states have the legislative competence to impose taxes on mines and minerals-bearing lands under the Constitution.
The money is being refunded only in those cases where Sebi has not found any multiplicity during its verification process.
'Understand how wedding expenses fit into your overall financial situation.' 'Evaluate how different levels of spending will impact other goals like retirement, travel, or housing.'
New rules will unnecessarily make the airlines responsible for reasons beyond their control
In a major relief to 25,753 teachers and non-teaching staff of West Bengal, the Supreme Court on Tuesday stayed the order of the Calcutta high court order invalidating their appointment made by the state's School Service Commission (SSC) in the state-run and state-aided schools.
Argentina's friendly against Ivory Coast, scheduled to be held in Beijing in March, has been cancelled, the Chinese city's football association said on Saturday, following a backlash against Lionel Messi's failure to play in a match in Hong Kong.
It is after the GST Network tallies invoice details with shipping bills that the refund claims can be processed. So, the refund could be delayed by over a month.
Regulator has set up a special cell to carry out the refunding operation.
Sahara Group chief Subrata Roy passed away on Tuesday due to a cardiorespiratory arrest after a prolonged illness, a company statement said. He was 75. He was 75. According to the company statement, he passed away at 10.30 pm due to cardio-respiratory arrest following an extended battle with complications arising from metastatic malignancy, hypertension, and diabetes.
Bharti Airtel may end up cumulatively bidding for more spectrum than market leader Reliance Jio in the upcoming auctions. This is owing to its need for spectrum renewal, and a requirement for 900 MHz in a few circles, analysts have said. Despite the muted bidding expected in the upcoming auctions, Airtel may end up making more bids than Jio, they added.
This is as easy as it gets and all one needs to do is to enter the PAN number and the assessment year on this site to access the current position of the tax refund.
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