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.
rediffGURU Samkit Maniar answers readers' personal income tax queries
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.
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.
rediffGURU and financial planning expert Colonel Sanjeev Govila will answer your personal finance-related questions.
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.
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.
While recalling the order, the bench agreed to the contention of the law officer that there was a "breach of principle of natural justice" as the government department was not accorded the hearing.
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.
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 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).
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.
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.
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.
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.
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.
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.
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.
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.
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.
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).
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.
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.
Publishers of Sir Alex Ferguson's autobiography have agreed to refund a customer after multiple inaccuracies were found in the book.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Many senior citizens fail to disclose certain incomes like interest, commissions, or dividends in their ITRs.
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.
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.
"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.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
A nine-day Kashmir trip ended on a sour note for the Shah family of Ahmedabad with an unscheduled diversion and an expensive road ride back home. The Shahs were among hundreds of passengers whose travel plans went awry with Go First suspending all flights till Friday. "We were supposed to travel from Srinagar to Ahmedabad via Mumbai on Tuesday.
In its order passed on Wednesday, the commission said Rs 1.08 lakh in fees deposited by complainant Priyanka Dixit at the time of admission in 2021 must be returned along with 12 per cent annual interest, while Rs 5,000 must be given to her as litigation cost and Rs 50,000 as compensation for financial and mental agony.
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
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.
