Reliance Haryana SEZ, a joint venture between Reliance Ventures Ltd -- an Reliance Industries subsidiary, and Haryana State Industrial and Infrastructure Development Corporation has so far bought 7,001 acres of land in Jhajjar district and about 1,200 acres and 1,383.68 acres of HSIIDC land in Gurgaon.
Higher online filing of returns that is expected in the ongoing financial year will enable faster processing of claims and hence a further increase in refunds.
The nine-page guidelines have been issued days after the state government set up a 15-member committee headed by education secretary Bhawani Singh Detha to examine the issue after record student suicides were reported from coaching hub Kota.
Jet Airways, which is involved in a tussle with its failed takeover target Air Sahara, on Tuesday failed to get respite from an Arbitration panel on its plea for refund of Rs 500 crore (Rs 5 billion) paid as advance.
Gross direct tax collection in 2022-23 rose by around 20 per cent to Rs 19.68 lakh crore, exceeding the government's revised collection target. Buoyed by personal income tax collection, the gross collection has exceeded the revised estimates (RE), set on February 1, by Rs 2.41 lakh crore or by 16.97 per cent. After adjusting for refunds, the net income tax paid by individuals and corporate, showed an increase of 18 per cent to Rs 16.61 lakh crore during the fiscal, which ended March 31, 2023.
The Income-Tax department will soon start updating taxpayers about the status of their I-T refunds and processing of certain tax statements by sending real-time SMSes and emails, on similar lines as that of credit card and bank transactions at present.
Tax payers got of Rs 17,600 crore (rs 176 billion), representing a 52.01 per cent growth over Rs 11,578 crore (Rs 115.78 billion) given in the first three months of last fiscal.
I-T Dept cleared Rs 23,000-crore refunds in direct taxes.
With education getting more expensive, disputes are on the rise. But with patience, some understanding of the law and all your documents, it is easy to get a refund. Here's how six students did it.
The ruling Aam Aadmi Party remained tight-lipped about whether the chief minister will appear before the Enforcement Directorate or not.
A bench headed by Chief Justice Altamas Kabir, which had earlier extended the deadline to two companies of the group for refunding the money from November end to first week of February, refused to grant more time.
Life Insurance Corporation of India (LIC) February 8 for the first time ever crossed the Rs 7 trillion market capitalisation, as the stock price of state-owned insurer hit a new high of Rs 1,144,45, on rallying 10 per cent on the BSE. The board of directors of the Corporation are scheduled to meet today i.e. February 8, 2024, to consider a proposal for declaration of interim dividend for the financial year 2023-24 (FY24). The board will also consider and approve the unaudited financial results for the quarter and nine-month period ended on December 31, 2023.
The Sahara group today moved the Supreme Court seeking review of the verdict ordering it to refund Rs 24,000 crore, raised from investors through Optionally Fully Convertible Debentures (OFCDs).
Spectators chanted "refund" after Messi stayed on the bench during the match.
The Directorate General of Foreign Trade on Monday notified Duty Entitlement Pass Book Scheme (refund of local taxes) on cement exports. The commerce ministry had lifted the 46-day old ban on cement exports on May 27. However, it had allowed shipments only through ports in Gujarat. The state accounts for 95 per cent of the total cement exports.
Taking note of numerous complaints on refund on air tickets, the government on Thursday issued a new set of rules which stipulate that the amount should be refunded within seven days of the tickets being cancelled. The Directorate General of Civil Aviation (DGCA) issued the rule or Civil Aviation Requirement (CAR), making it effective forthwith.
The government on Saturday notified refund of tax paid by exporters on three additional services of general insurance, technical testing and analysis, and inspection and certification -- a move that will provide much- needed respite to businesses hit by an appreciating rupee.
Private airlines collecting taxes from travellers other than the passenger service fee will be penalised and made to refund such money, Civil Aviation Minister Praful Patel told Lok Sabha on Thursday. Patel made it clear that the government did not regulate the air fare levied by Airline companies. The government only levies Rs 221 as passenger service fee which is used for security of airports and to cover other related expenses, he said.
In a major setback to the Sahara Group, the Supreme Court on Friday directed two of its companies to refund around Rs 17,400 crore to their investors within three months with 15 per cent interest.
The income tax department has selected database software major Oracle to enable online delivery of tax payer services including faster processing of returns, expeditious refund of claims and quicker investigation.
Finance Minister Pranab Mukherjee has rejected a proposal by Communications Minister A Raja for refund of the Rs 29,598 crore paid by state-owned Bharat Sanchar Nigam Limited and Mahanagar Telephone Nigam Limited for third generation (3G) and broadband wireless access (BWA) spectrum.
Riding on the back of large capital inflows both in the stock market and through the foreign direct investment route, the Indian currency has appreciated by over seven per cent in the first six months of the current financial year.
Publishers of Sir Alex Ferguson's autobiography have agreed to refund a customer after multiple inaccuracies were found in the book.
Those running from pillar to post to get their Income Tax refund dues can seek solace in Right to Information Act, which is fast becoming a potent tool to get refund faster.
Satyam founder B Ramalinga Raju's confession letter on January 7 also refers to a net amount of Rs 1,230 crore (Rs 12.3 billion) arranged for Satyam by the 37 companies.
The Central Board of Direct Taxes has suggested to income tax departments across the country to go slow on refunds for at least a fortnight.
If extra tax has been paid on inflated income, only a 'bona fide mistake' will get refund.
"The customers had entered into a three-year contract with us. If we have to sell the apartments at a discounted rate, the customers who are backing out should make up for it," an official said. "If DFL tries to re-sell its apartments in the open market, it will have to reduce prices by a further 10-15 per cent. The new buyers know the expected supply is more than demand," said Rupesh Sankhe, equity analyst, Centrum Broking.
In a suit filed against Tata America International Corporation (TAIC) and its parent corporations -- TCS and Tata Sons Ltd -- on Tuesday, Gopi Vedachalam, contends he was instructed to sign over his federal and state tax refund checks to TCS.
Seven electric two-wheeler companies have suffered a cumulative loss of over Rs 9,000 crore on account of unpaid dues and loss of market after their subsidies were stopped last year, the Society of Manufacturers of Electric Vehicles (SMEV) said on Wednesday. These companies have also been directed by the govt to refund the subsidies availed by them. The audit by SMEV's chartered accountants indicates the total, cumulative damages to affected companies could account for over Rs 9,000 crore on a conservative basis, it noted.
Sahara Group on Friday assured the Supreme Court that its two companies which had raised Rs 24,000 crore through Optionally Fully Convertible Debentures (OFCDs) from their investors will refund the amount within three months.
State-owned MTNL will soon reap a tax refund windfall, as the Income Tax department has been asked to return a whopping Rs 1,233 crore (Rs 12.33 bilion) to the telecom PSU
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Reliance Industries may ask the government for a refund of its investment if it is forced to give up any part of the prolific KG-D6 block as it has spent a huge sum of money on exploration after obtaining necessary permission to retain the entire 7,645-sq km area.
Delay raises doubts about govt's tax reform plans.
The interest charged on an inter-state loan given to a credit card holder without the use of a plastic card would not be subject to the integrated goods and services tax (IGST), a two-judge bench of the Calcutta high court has ruled. In this connection, it recently set aside a ruling by a single judge of the high court. The issue was a loan of Rs 650,000 granted by Citi Bank with an EMI of Rs 58,056 for 12 months and inclusive of integrated GST (IGST) on each installment of interest.
Govt steps up security to check criminals seeking bank details of taxpayers
the processing of the returns to determine refunds is an ongoing and continuous process and a return can be processed up to one year.
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