Latest News
-
Bajaj Group Stock Declares Rs. 60/Share Dividend: Buy Ahead of Record Date On 28 June? -
Rs 45/Share Dividend: Record Date In Due Course; Buy The IT Stock For Dividend Eligiblity? -
175% Dividend: TATA Group Stock Declares Q4 Results; Buy The Rekha Jhunjhunwala Portfolio Stock? -
2:15 Bonus: Tata Group's Penny Stock Below Rs 90, Gives 2,821% Returns In 5 Years: Announces Q4 Report Card -
Rs. 240/Share Dividend: May 7 Fixed As Record Date; Buy The IT Stock To Be Eligible? -
1:5 & 1:2 Split, Rs 6/Sh Dividend: Fertilizer Stock Coming Up With 600% Payout; Record, Payment Dates Fixed -
Cube Highways Trust Set to Acquire Seven Highway Assets Worth Rs 5,172 Crore -
1:10 Split, Rs 51 Dividend: Accumulate Tata Stock, TP Rs 170; Big Update On £1.25 Bn Investment -
Tech Mahindra Sets Three-Year Plan for Robust Growth and Market Leadership by FY27 -
Tech Mahindra Q4 Net Profit Falls 41%, Announces Growth Strategy
Income Tax Department Asks Taxpayers To Do This For Quick Tax Refund
In a place where the Income Tax Department of India allows taxpayers to claim an income tax refund in two ways i.e. through offline where taxpayers are required to download the applicable ITR, fill the form offline, save the generated XML file and then upload it and through online they can enter the relevant data on ITR 1 and ITR 4 online at e-filing portal and submit it, the tax department has now suggested a way to the taxpayers where they can claim their income tax refund quickly. Via its Twitter handle the department has said that "The Deptt requests taxpayers to respond online quickly so that ITRs in such cases of AY 20-21 can be processed expeditiously. The Deptt has also commenced processing of ITRs 1 & 4 for AY 21-22 & refunds, if any, will be issued directly to the bank account of the taxpayer."
The Deptt requests taxpayers to respond online quickly, so that ITRs in such cases of AY 20-21 can be processed expeditiously. The Deptt has also commenced processing of ITRs 1 & 4 for AY 21-22 & refunds, if any, will be issued directly to the bank account of the taxpayer (5/5)
— Income Tax India (@IncomeTaxIndia) August 29, 2021
The department has suggested that "To resolve pending refunds of AY 20-21, ITD is in the process of communicating with taxpayers, where response from taxpayers would be required in cases involving notices for prima facie adjustments, defects, adjustment u/s 245 & refund failure due to bank account mismatch."
To resolve pending refunds of AY 20-21, ITD is in the process of communicating with taxpayers, where response from taxpayers would be required in cases involving notices for prima facie adjustments, defects, adjustment u/s 245 & refund failure due to bank account mismatch (4/5)
— Income Tax India (@IncomeTaxIndia) August 29, 2021
In another Tweet, the department has also claimed that "CBDT issues refunds of over Rs. 51,531 crore to more than 22.99 lakh taxpayers between 1st April,2021 to 23rd August,2021. Income tax refunds of Rs. 14,835 crore have been issued in 21,70,134 cases & corporate tax refunds of Rs. 36,696 crore have been issued in 1,28,870 cases."
The Income Tax India has also claimed that "CBDT issues refunds of over Rs. 49,696 crore to more than 22.75 lakh taxpayers between 1st April, 2021 to 16th August, 2021. Income tax refunds of Rs. 14,608 crore have been issued in 21,50,668 cases & corporate tax refunds of Rs. 35,088 crore have been issued in 1,24,732 cases."
"On consideration of difficulties reported by taxpayers & other stakeholders in electronic filing of certain Forms under the IT Act,1961, CBDT has further extended the due dates for electronic filing of such Forms. CBDT Circular No.16/2021 dated 29.08.2021 issued." The extended deadlines can be found here.
