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.
A banking Trojan malware has been detected in the Indian cyberspace that is lurking to attack bank customers using Android phones and has already targeted those from more than 27 public and private sector banks, the country's federal cyber security agency said in a latest advisory.
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.
India's second largest IT services company Infosys has been slapped with a 'pre-show cause' notice for alleged GST evasion to the tune of about Rs 32,403 crore. In a BSE filing, the Bengaluru headquartered IT firm said Karnataka State GST authorities have issued a pre-show cause notice for payment of GST of Rs 32,403 crores for the period July 2017 to March 2022, towards the expenses incurred by overseas branch offices of Infosys Ltd, and added that the company has responded to the pre-show cause notice.
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.
The PCB said the difficult decision had been taken due to the ongoing construction work at the venue
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The Uttar Pradesh government on Friday told the Supreme Court that it has withdrawn 274 recovery notices and proceedings initiated against anti-CAA protestors in 2019 for damages caused to public and private properties.
Sebi says it will directly transfer the refund money to the bank accounts of genuine investors.
The undistributed funds totalling over Rs 25,000 crore lying with the capital markets regulator Sebi's account have come back into focus after the demise of Sahara Group's chief Subrata Roy. Roy passed away in Mumbai on Tuesday night at the age of 75 after battling a prolonged illness. He faced multiple regulatory and legal battles in connection with his group firms that were accused of circumventing regulations with ponzi schemes, allegations his group always denied.
Direct tax collection, net of refunds, moderately exceeded the revised estimates (RE) for the financial year 2023-24 (FY24) on the back of personal income tax revenues, but corporation tax receipts fell short of the RE. Net direct tax collection stood at Rs 19.58 trillion in FY24, surpassing the RE of Rs 19.45 trillion by Rs 13,000 crore, or 0.7 per cent. The government had revised up FY24 projections for personal income tax by 13.5 per cent over the Budget estimates (BE) of Rs 9 trillion, at Rs 10.22 trillion.
Among Sensex firms, Tata Consultancy Services, HCL Technologies, Tech Mahindra, Infosys, Mahindra & Mahindra and Tata Motors were the biggest gainers. UltraTech Cement, JSW Steel, Tata Steel, Adani Ports, Power Grid and Bajaj Finserv were among the laggards.
Infosys has received a tax demand of Rs 341 crore for assessment year 2020-21 from the Income Tax Department, the IT services company said on Monday adding it is evaluating filing an appeal against the said order. The Bengaluru-headquartered company said it is in the process of evaluating the impact of the order on its financial statements for the quarter and year ending March 31, 2024. Infosys also said it is evaluating filing an appeal against this order.
The CAB has promised to also work out a mechanism for refund of tickets sold offline once its offices reopen on Tuesday.
A Delhi-bound Air India flight had to abort its take-off and was later cancelled after it hit a luggage tractor trolley while taxiing for departure at the Pune airport, airline sources said on Friday.
'Personal income tax is growing by 27 per cent and most refunds have already been issued.'
'Some of the astounding proposals, if translated into statutory provisions, would be suicidal.' 'This would not be a wonder cure for increasing insurance penetration and only result in mushrooming growth of players like paan kiosks with deleterious consequences.'
Flights from Delhi or Bengaluru, while they may still fly over Iran, depending on the route, have alternative paths that may take them through Central Asia or northern routes.
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.
Our politicians need to take a leaf out of Mr Trump's personalised merchandise sale: It keeps his image in the public eye, continuing to engage him differently and innovatively with his supporters, points out Sandeep Goyal.
Finance Minister Nirmala Sitharaman on Wednesday asked tax officers to use simple language in income tax communications so that notices do not instil fear in the minds of taxpayers. Advising the income tax officers not to take "disproportionate" action and use enforcement measures only, as the last resort, Sitharaman said tax officers should use "power judiciously".
'The ministry may like to consider setting up an ombudsman similar to electricity ombudsman and insurance ombudsman, to ensure a time-bound resolution of consumer issues within the airline sector.'
Sebi says Sahara investors refunded over Rs 42 cr.
The passenger He said that there were pregnant women and elderly people travelling on the plane, but despite it, "the Indigo team declined to help the passengers and asked them to make their own arrangements at a 3rd location".
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.
Businesses across the country may soon be required to issue electronic invoices, or e-invoices, directly to consumers for the sale of goods and services. The Goods and Services Tax (GST) Council, in its forthcoming meeting on Monday, is expected to discuss extending the e-invoicing mandate to cover business-to-consumer (B2C) transactions. Currently, e-invoicing is compulsory for businesses with a turnover of Rs 5 crore and above, but only for their business-to-business (B2B) transactions.
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.
The GST Council on Saturday is expected to extend the date for IGST exemption and cess on imports
rediffGURU T S Khurana answers readers' personal income tax queries.
The money is being refunded only in those cases where Sebi has not found any multiplicity during its verification process.
'There is a difference between a politician and leader.' 'A politician will have his pound of flesh first and do everything else later.' 'A leader will sacrifice everything to help people.'
The apex court delivered its verdict on an appeal filed by a woman challenging an order of the Karnataka high court in a matter related to the grant of maintenance and compensation.
New rules will unnecessarily make the airlines responsible for reasons beyond their control
Net direct tax collection in the eight months of the current fiscal touched 58.34 per cent of Budget Estimates (BE) at Rs 10.64 lakh crore. The net tax collection for April-November stood at Rs 10.64 lakh crore, which is 23.4 per cent higher than the corresponding period of last year, the ministry of finance said.
DAP does not consider past I-T returns to match a taxpayer's resources with their expenditures or investments, points out Harsh Roongta.
Regulator has set up a special cell to carry out the refunding operation.
18% cent GST on iPhones continues to weigh heavily on the final cost to Indian consumers, limiting the impact of price cuts.
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.
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.
If you are an individual, you will get your refunds quicker.
