Linking your Aadhaar Card with your PAN card is mandatory for a number of services including filing income tax returns (ITR), claiming tax refunds, opening a bank account, purchase of mutual funds units, Issue of debit/credit cards, conducting bank transactions exceeding ...
Income tax refund is the refund amount that is initiated by the income tax department if the amount paid in taxes exceeds the actual amount due (either by way of TDS or TCS or Advance Tax or Self-Assessment Tax). Taxpayers who ...
In a significant ruling on Thursday, the Bombay High Court has directed the Income Tax Department to refund a whopping Rs 1,128 crore to telecom giant Vodafone Idea Ltd. The court's decision comes after it deemed the assessment order passed by ...
After you file your tax return for the assessment year usually you are sent an intimation notice which clarifies on the tax refund payment to you. And this then after successful verification is credited to your account. Nonetheless, if the amount ...
From April 1, 2021 to November 15, 2021, the Central Board of Direct Taxes (CBDT) granted refunds of over Rs. 1,19,093 crore to more than 1.02 crore taxpayers, according to the Income Tax Department of India. In 1,00,42,619 cases, income tax ...
Receiving an income tax refund requires pre-validation of a bank account and matching of a PAN to the bank account to which the refund will be credited. This step is mandatory to undertake if you are a taxpayer who has an ...
With the latest e-verification techniques, you will no longer need to download, sign, and mail the acknowledgment to CPC Bengaluru, making it more convenient and easier to fit into our hectic schedules. It's just as important to double-check your ITR as ...
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 ...
With effect from Friday, tax refund scheme RoDTEP has been extended to all goods, the government said on Thursday, providing relief to exporters. In March, the government approved the scheme for Remission of Duties and Taxes on Exported Products (RoDTEP) for ...
Earlier this year, the Income Tax department had informed that it will only issue e-refunds from 1 March 2019. To claim IT refund, just filing one's income tax returns (ITR) is not enough. This time around, you need to make sure ...
In a recent public communication on its website, the Income Tax Department has notified that it will be making tax refunds "only" through the electronic route, which means that you are required to link your PAN with your bank account so ...
