Aug 05, 2016 at 16:26 | Source: PTI
"As on March 31, 2016, refund claims of above Rs 10 lakh are pending only in 57,783 cases for various assessment years, involving a total amount of Rs 1,23,335 crore," Minister of State for Finance Santosh Kumar Gangwar said in a written reply to the Lok Sabha.
May 09, 2016 at 16:58 | Source: PTI
Offering the "final opportunity", the department has said taxpayers whose refunds and tax issues are pending for assessment years (AYs) 2009-10, 2010-11, 2011-12, 2012-13, 2013-14 and 2014-15, should immediately authenticate their Income Tax Returns by using either the electronic verification by Aadhaar or bank account-based facility
May 06, 2016 at 14:10 | Source: PTI
In 2015-16, more than 94 percent of income tax returns were filed online and 4.14 crore returns were processed by the Central Processing Centre (CPC), Bengaluru, without any human intervention.
Apr 26, 2016 at 20:42 | Source: PTI
The Income Tax department will now add interest amount to a delayed refund made on excess TDS deductions and will also not litigate with the deductor on this issue in the future, a latest directive has said.
Apr 04, 2016 at 15:16 | Source: PTI
As per a Finance Ministry release, the Department issued refunds over Rs 1,17,000 crore in 2015-16 and the figure is likely to further increase as banks reconcile the accounts.
Apr 01, 2016 at 18:16 | Source: Moneycontrol.com
To provide tax certainty, investment funds can seek prior approval from the income- tax administration to ascertain their eligibility status to access the Safe Harbour rule.
Mar 09, 2016 at 08:04 | Source: PTI
Tax refund claims worth over Rs1.5 lakh crore for various assessment years were pending withthe Income-Tax Department as on February 27, Minister of Statefor Finance Jayant Sinha said today.
Feb 01, 2016 at 14:42 | Source: PTI
The guidelines would help further streamline the process of refunds. Between mid-April and January, the Income Tax department has issued a record Rs 65,000 crore worth refunds.
Jan 24, 2016 at 13:40 | Source: PTI
India's Income Tax department will further hasten the speed of issuing refunds to taxpayers who e-file their returns as it's Bengaluru-based CPC has adopted a variety of smart business procedures in the recent past, a senior official said.
Jan 16, 2016 at 15:27 | Source: PTI
In an initiative to reduce taxpayer grievances and enhance the taxpayer satisfaction, the Central Board of Direct Taxes had in December asked Central Processing Centre (CPC) - Bengaluru and the field officers to issue refunds of amounts less than Rs 50,000 expeditiously.