Income Tax Refund Status

Mar 27, 2015 at 11:00 | Source:
Though there is a provision to deduct tax at the source of income, one must assess this tax position. Despite TDS, one may have to pay tax, if his tax rate is higher than the rate of TDS. One may also claim tax refund if TDS rate is higher than his tax slab rate.
Mar 10, 2015 at 16:33 | Source: PTI
"Income-tax refunds amounting to Rs 1,19,964.13 crore relating to last three assessment years are pending as on March 5, 2015," Minister of State for Finance Jayant Sinha said in a written reply in the Rajya Sabha.
Aug 24, 2014 at 18:51 | Source: PTI
Sebi also said that income tax would be deducted at source, wherever applicable, unless it receives necessary documents for claim of tax exemption along with the refund application.
Aug 22, 2014 at 17:44 | Source: PTI
KV Chowdary, Chairman of CBDT said the net income tax collection during the first four months stood at over Rs 1.51 lakh crore after accounting refunds of nearly Rs 54,000 crore
Jul 07, 2014 at 17:59 | Source:
Nilesh Shetty , Associate Fund Manager Equity, Quantum AMC says he is awaiting announcement on the status of retrospective taxation cases.
Jun 25, 2014 at 17:30 | Source:
Many a time we use the word deduction, exemption,rebates and reliefs interchangeably. We must realize that these are terms with different implications.
Apr 16, 2014 at 17:13 | Source:
The initial action that has been undertaken is by the employer since the income is being received as salary from the employer and based upon the amount received here there is some tax that is deducted at source.
Apr 16, 2014 at 16:59 | Source:
Due to the special nature of duties of the armed forces, certain allowances are paid to meet that requirement. Of these allowances some are subject to tax and some are not.
Apr 03, 2014 at 09:27 | Source:
MTNL has received income tax refund from Income Tax Department for the Assessment Year 2007-08 and 2009-10 which were earlier adjusted from the refund of Assessment Year 2006-07.
Mar 03, 2014 at 12:43 | Source:
According to Balwant Jain of, if you feel that you are income is not going to be taxable then you can furnish Form 15G or 15H if you are a senior citizen before the bank credits the interest to your account.
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