Page 3 - Tax Refunds

CBDT refunds over Rs 67,401 cr till Aug 16 to nearly 2.4 million taxpayers

CBDT has issued refunds of over Rs 67,401 crore to more than 2.4 million taxpayers between April 1 and August 16, the Income Tax Department of India said on Saturday.

Export-focussed sectors express disappointment over RoDTEP rates

The industry associations representing these sectors rued that the rates are lower than what companies enjoyed under the now discontinued MEIS scheme

Exporters want steel, pharmaceuticals sectors under RoDTEP scheme

The RoDTEP guidelines do not include sectors such as steel, organic & inorganic chemicals, and pharma under the scheme

Govt announces RoDTEP rates for exporters; outlay Rs 12,454 cr in FY22

8,555 items covered; steel, organic and inorganic chemicals, pharma kept out of scheme

Income below exemption limit? File tax return, nonetheless, say experts

Offsetting losses against future income or receiving tax refund is only possible when you do so

Tax dept issues refunds worth Rs 26,276 cr in 2 months of FY22

The income tax department on Thursday said it has issued Rs 26,276 crore refunds to more than 15.47 lakh taxpayers in two months of the current fiscal.

Tax refunds worth Rs 1.73 trn issued so far this fiscal: Income Tax dept

The Income Tax Department on Wednesday said it has issued refunds worth over Rs 1.73 lakh crore to more than 1.57 crore taxpayers in the ongoing fiscal till January 11. Of this, personal income tax refunds are worth Rs 57,139 crore, while corporate tax refunds are worth Rs 1.15 lakh crore. CBDT (Central Board of Direct Taxes) issues refunds of over Rs 1,73,139 crore to more than 1.57 crore taxpayers between April 1, 2020 to January 11, 2021, the Income Tax Department said in a tweet. "Income tax refunds of Rs 57,139 crore have been issued in 1,54,55,577 cases & corporate tax refunds of Rs. 1,15,999 crore have been issued in 2,10,150 cases," it said.

I-T refunds worth Rs 1.64 trn issued to 10.4 million taxpayers till Jan 4

The Income Tax department on Wednesday said it has issued refunds worth over Rs 1.64 lakh crore to over 1.41 crore taxpayers so far this fiscal. This includes Personal income tax (PIT) refunds amounting to Rs 53,070 crore and corporate tax refunds of over Rs 1.10 lakh crore during this period. "CBDT issues refunds of over Rs. 1,64,016 crore to more than 1.41 crore taxpayers between 1st April,2020 to 04th January,2021.Income tax refunds of Rs. 53,070 crore have been issued in 1,38,85,044 cases & corporate tax refunds of Rs. 1,10,946 crore have been issued in 2,06,847cases," the Income Tax department tweeted. The Department on Tuesday had said that over 5 crore income tax returns (ITRs) for fiscal year 2019-20 have been filed till January 4. The government has extended the ITR filing deadline for individuals till January 10, and for companies till February 15.

Govt extends RoDTEP scheme to all merchandise exports from today

The scheme will refund to exporters, the embedded central, state and local duties and taxes

Refunds worth over Rs 1.23 trn issued to 3.8 mn taxpayers till Oct 13

The income tax department on Wednesday said it has issued refunds of over Rs 1.23 lakh crore to more than 38 lakh taxpayers between April 1 to October 13. This includes personal income tax (PIT) refunds amounting to Rs 33,442 crore issued to 36.21 lakh taxpayers and corporate tax refunds worth Rs 90,032 crore to over 1.89 lakh taxpayers, according to the Central Board of Direct Taxes (CBDT). "CBDT issues refunds of over Rs. 1,23,474 crore to more than 38.11 lakh taxpayers between April 1, 2020 to October 13, 2020. "Income tax refunds of Rs. 33,442 crore have been issued in 36,21,317 cases & corporate tax refunds of Rs. 90,032 crore have been issued in 1,89,916 cases," CBDT said in a tweet. The government has emphasised on providing tax-related services to taxpayers without any hassles and has been clearing up pending tax refunds.

Tax refunds worth Rs 1.06 trn issued to 3.09 mn taxpayers till Sep 15: CBDT

The income tax department on Wednesday said it has issued refunds of over Rs 1.06 lakh crore to more than 30 lakh taxpayers between April 1 to September 15. This includes personal income tax (PIT) refunds amounting to Rs 31,741 crore issued to 29.17 lakh taxpayers and corporate tax refunds worth Rs 74,729 crore to over 1.74 lakh taxpayers. "CBDT issues refunds of over Rs 1,06,470 crore to more than 30.92 lakh taxpayers between 1st April, 2020 to 15th September,2020. "Income tax refunds of Rs 31,741 crore have been issued in 29,17,169 cases & corporate tax refunds of Rs 74,729 crore have been issued in 1,74,633 cases," the Central Board of Direct Taxes (CBDT) tweeted. The government has emphasised on providing tax-related services to taxpayers without any hassles and has been clearing up pending tax refunds.

IT dept launches functionality for banks to check refund filing status

The Income Tax department on Wednesday said it has launched a functionality for scheduled commercial banks to check status of income tax returns filed by entities based on their PAN

IT refunds worth Rs 98,265 cr issued to 2.62 mn taxpayers in 5 months

This include personal income tax (PIT) refunds amounting to Rs 29,997 crore issued to 2.45 million taxpayers

Refund charges imposed on e-payments since Jan this year: CBDT to banks

The CBDT, through a circular, said that banks are advised to not collect any charges on transactions or payments made through electronic mode.

IT refunds worth Rs 88,652 cr issued to over 2.5 million taxpayers

The Income Tax department on Friday said it has issued refunds worth Rs 88,652 crore to over 24 lakh taxpayers so far this fiscal. This include personal income tax (PIT) refunds amounting to Rs 28,180 crore issued to over 23.05 lakh taxpayers and corporate tax refunds amounting to Rs 60,472 crore to over 1.58 lakh taxpayers during this period. "CBDT has, so far, issued refunds of over Rs 88,652 crore to more than 24.64 lakh taxpayers from 1st April, 2020 onwards. Income tax refunds of Rs 28,180 crore have been issued in 23,05,726 cases & corporate tax refunds of Rs 60,472 crore have been issued in 1,58,280 cases," the Income Tax department tweeted. The Central Board of Direct Taxes (CBDT) is the apex decision-making body in direct tax matters, administers personal income tax and corporate tax. The government has emphasised on providing tax related services to taxpayers without any hassles during COVID-19 pandemic and to that end has been clearing up pending tax refunds.

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Direct tax refunds down 10% amid Covid-19 pandemic, says CBDT

Only withheld refunds where assessee reply is awaited, says CBDT

Direct tax mop-up rises 39% amid sharp decline in disbursement of refunds

Collections may come under pressure once the base effect wears off

Contrary to govt's claims, direct tax refunds down 67% till May 21

Expediting refunds of up to Rs 5 lakh was announced as part of the government's policy initiative to fight the economic impact of Covid

CBDT issues tax refund worth Rs 26,242 cr to tax assesses since April 1

Tax refunds issued to 16,84,298 tax assesses, says the government.