Delay in receiving income tax refunds has been a major complaint of taxpayers and the department is hoping to address the issue on priority basis.
To check the status of their refund, taxpayers can log in at https://tin.tin.nsdl.com/oltas/refundstatuslogin.html.
The net direct tax collection increased by 21.82 per cent to over Rs 9.57 lakh crore till October 9, helped by good inflow from corporates and individuals, the Finance Ministry said on Tuesday. The net collections have reached 52.5 per cent of the full-year budget estimates (BE) of Rs 18.23 lakh crore. The provisional figures of Direct Tax collections up to October 9, 2023, continue to register steady growth, the statement said.
The Telecom Regulatory Authority of India (Trai) has directed Vodafone Essar Mobile Services to refund value-added service (VAS) charges that were levied without "explicit consent". However, the regulator did not specify the amount the GSM major has to refund to the consumers.
The Delhi airport, the country's busiest airport, on Friday early morning witnessed the collapse of a roof at Terminal 1 amid heavy rains that killed one person, prompting the government to order a detailed probe and an inspection of the structural strength of all airports.
Latest exercise follows two similar attempts made by Sebi in the past
Indirect tax collections saw only a meagre 3.5 per cent growth, as mop-up from Customs fell sharply on account of a drop in imports.
If you have not yet filed an ITR for the 2022-2023 financial year, you can file a belated return.
Taxpayers are advised to furnish their bank details and electronic clearing system number in their tax returns, so that their refunds can be credited to bank accounts electronically, an official said. "With the Refund Banker scheme in place all over the country shortly, the Income Tax Department envisages no difficulty in processing refund cases," the official said.
Taxpayers with old, outstanding taxes will benefit from the CBDT's new scheme.
A bank account is a must to get the refund and those without it have been asked by Sebi to open an account with a scheduled bank.
We asked readers to write to us about how they fought with their colleges to get the refund of fees. Here's Mahavir Chopda's successful struggle against his institute.
Citibank has started refunding money to those who had invested in the fraudulent scheme run by its relationship manager at Gurgaon, Shivraj Puri. Many entities of the Munjal family, victims in this regard, got back their money in recent days.
During April-October 20 period, the tax department has made refunds to the tune of Rs 80,850 crore.
The Reserve Bank of India (RBI) has barred Paytm Payments Bank from most operations, including taking deposits and fund transfers with effect from March 1, 2024. The curbs on the bank come amid several alleged failures such as violations of know-your-customer (KYC) norms. Under such a scenario, here's what works for customers using Paytm Payments Bank, according to the company.
Tax department plans to link PAN with the bank account number to eliminate the scope of the amount being transferred to a wrong account number.
Sebi chief U K Sinha questioned the credibility and feasibility of Shara's refund claims.
Air India Express on Thursday cancelled 85 flights or around 23 per cent of the total daily capacity as the disruptions due to the cabin crew shortage continue and said Air India will operate services on 20 of its routes to minimise inconvenience to passengers.
The Supreme Court on Monday rapped Sahara group for not refunding Rs 27,000 crore to investors, who had put their money into its two companies.
Genuine investments identified so far is Rs.1.08 cr out of around Rs 24,000 cr.
Delay in receipt of income tax returns is the most registered grievance of taxpayers in the national capital with the I-T Ombudsman receiving almost 85 per cent complaints in this regard.
Taxpayers can expect faster refunds from the I-T department this year as the ambitious centralised processing centre of the department will start functioning to full capacity.
Crisis-hit airline Go First has suspended sale of tickets till May 15 and is working to refund or reschedule existing bookings for future dates, aviation regulator DGCA said on Thursday. The Directorate General of Civil Aviation (DGCA) had issued a show cause notice to the airline after it suddenly decided to cancel flights for three days starting May 3. "Go First has intimated that they have suspended sale of their flights till 15 May 2023 and are working to refund or reschedule for future dates, the passengers already booked to fly with them," the regulator said in a statement.
Passengers of a San Francisco-bound Air India flight faced a harrowing time due to an inordinate delay and some of them fainted as the aircraft's air-conditioning system was non-functional.
rediffGURU Samkit Maniar answers readers' personal income tax queries
ABB India's March quarter results (Q1CY24) were led by strong margin performance. Revenue was, however, largely in line with estimates at Rs 3,080 crore (up 28 per cent Y-o-Y and up 12 per cent Q-o-Q). The growth was across electrification (30 per cent Y-o-Y), process automation (73 per cent Y-o-Y) and robotics & motion (8 per cent Y-o-Y).
The National Anti-Doping Agency's appeals' panel has exonerated middle-distance runner Shalu Chaudhary of doping charges and lifted her four-year ban after DNA testing revealed that her urine sample had either been tampered with or contaminated at the time of collection.
Yes Bank on Saturday reported over two-fold jump in standalone net profit at Rs 452 crore for March quarter 2023-24, primarily due to benefits on the provision front. In the year-ago quarter, the bank logged a profit of Rs 202.43 crore. The private sector lender benefitted from write-back on income tax and interest on income tax returns, but the profits were limited by its inability to comply with the mandatory priority sector lending (PSL) requirements, its management said.
Wigan Athletic's players have agreed to refund the club's travelling fans after Sunday's humiliating 9-1 defeat at Tottenham Hotspur in the Premier League.
Without identifying the airlines, official sources said notices had been issued to some carriers against which the Civil Aviation Ministry had received complaints. The sources said 'affirmative action' would be taken against carriers flouting the refund guidelines issued a few months ago.
DLF has sought the denotification of four of its IT/ITeS SEZs that were to come up in Haryana, Gujarat, Orissa and Kolkata, due to slowdown in the economy and liquidity crunch in the overall industry. The decision on the denotification would be taken on the June 2 meeting of the Board of Approval in the commerce ministry.
The US has ordered Tata-group owned Air India to pay a whopping $121.5 million as refunds and $1.4 million as penalties for extreme delays in providing refunds to passengers due to the cancellation or change in flights, mostly during the pandemic, officials said. Air India is among the six airlines that have agreed to cough up a total of over $600 million as refunds, the US Department of Transportation said on Monday. Air India's policy of "refund on request" is contrary to the Department of Transportation policy, which mandates air carriers to legally refund tickets in the case of cancellation or change in flight, officials said.
Market regulator Sebi on Tuesday ordered Kolkata-based Saradha Realty India to close all its collective schemes and refund the money collected from investors within three months, amid continuing protests against the alleged fraudulent activities of the group.
rediffGURU and financial planning expert Colonel Sanjeev Govila will answer your personal finance-related questions.
The technical education regulating body plans to direct the institutions to refund the entire fee collected from the student after deducting processing fees, which cannot exceed Rs 1,000.
The guidelines for regulating coaching institutes have been framed to address the need for a legal framework and manage the unregulated growth of private coaching centres.
Manchester United will offer fans either a pro-rata cash refund or a rebate on next season's tickets if this season's remaining Premier League games are cancelled or played behind closed doors due to the coronavirus pandemic, the club said on Friday.
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