Latest exercise follows two similar attempts made by Sebi in the past
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
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.
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.
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.
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.
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.
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.
If you have any grievances or disputes regarding the demand stated in the notice, consider seeking professional help.
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.
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.
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.
Popular comedian Trevor Noah, who is in India for a comedy tour, called off two stand-up shows in Bengaluru due to 'technical issues' and apologised to the audience members for the inconvenience.
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.
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.
The RBI on Wednesday barred Paytm Payments Bank Ltd from accepting deposits or top-ups in any customer account, prepaid instruments, wallets, and FASTags, among others after February 29, 2024.
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.
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.
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.
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.
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.
Air India, which operates 72 weekly flights from various cities to Dubai, and IndiGo cancelled their services on Wednesday.
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.
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.
The Income Tax Department has put on its Web site the list of tax refunds that could not be sent to salaried taxpayers for want of correct address.
'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.'
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 Income Tax Department will now process and send refunds in a short time of 7-10 days
If you have not yet filed an ITR for the 2022-2023 financial year, you can file a belated return.
The CBDT said this is "the final opportunity being provided to the taxpayers to regularise their pending ITRs pertaining to AYs 2009-10 till 2014-15.
Angry and disillusioned by the 'spot-fixing' allegations against Pakistani cricketers, upset fans in London are demanding ticket refunds while sponsors are having second thoughts about their investment in the sport.
The Finance Ministry said it has followed standard practice and has not violated any Constitutional provision by not showing interest on tax refund as separate expenditure in the Budget.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances