How to check income tax refund status The Income Tax (I-T) Department issued refunds worth over Rs. 1,86,677 crore to more than 2.14 crore taxpayers between April 2021 to March 2022. The Central Board of Direct Taxes (CBDT), the direct tax body of the I-T Department under the Ministry of Finance, in a statement on […]
The Central Board of Direct Taxes (CBDT), announced via its Twitter account, that it has issued refunds of over Rs 1,50,407 crore to more than 1.48 crore taxpayers from 1st April,2021 to 3rd January,2022. “Income tax refunds totaling Rs. 51,194 crore were distributed in 1,46,24,250 cases, while corporate tax refunds totaling Rs. 99,213 crore were […]
Visakhapatnam: Visakhapatnam Metropolitan Region Development Authority (VMRDA) received Rs 29 crore income tax refund on Friday in the first tranche. The urban development body has been recently exempted from income tax under section 12AA of the I-T Act by the I-T appellate tribunal for its land sale proceedings done between 2007 and 2010. According to […]
If you have paid more tax than your actual tax liability for a financial year, then you are eligible to get income tax refund after filing the income tax return (ITR) for that year. However, you will only receive this income tax refund after the tax department processes your ITR and confirms the same via […]
If you have an income tax refund due, then you need to make sure that the bank account you wish to receive the refund amount in is pre-validated on the income tax e-filing portal. If your bank account is not pre-validated on the portal, then you will not be able to receive the income tax […]
Income Tax Department ITR refund list: The Income Tax Department has announced that it has issued refunds of over ₹12,038 crore to more than 10.83 lakh taxpayers between 1st April 2021 to 26th April 2021. The Central Board of Direct Taxes (CBDT) made an announcement in this regard. After this announcement, a taxpayer still waiting […]
Image: Shutterstock Your income tax refund may be held up pending your confirmation about its accuracy if there was a significant difference in incomes or deductions that you claimed while filing your ITR compared to your Form 16 or 16A. In this case, for the refund to be credited into your bank account you may […]
The income tax department has issued refunds worth over ₹1.73 lakh crore to more than 1.57 crore taxpayers in the ongoing fiscal till 11 January. Of this, personal income tax refunds are worth ₹57,139 crore, while corporate tax refunds are worth ₹1.15 lakh crore. “CBDT (Central Board of Direct Taxes) issues refunds of over ₹1,73,139 […]
In case you haven’t got the last year’s income tax refund amount yet, check if the bank account, which you had selected to get the refund, is prevalidated or not. This is because from the last Assessment Year (i.e. AY 2019-20) it has become mandatory to prevalidate bank accounts to get Electronic Service Credit (ECS) […]
If you have filed your income tax return (ITR) for the Assessment Year (AY) 2020-21 and haven’t received the refund so far, you are not alone. A technical upgrade for faster processing of the ITRs could be the reason behind the delay. Many taxpayers, even those who filed their tax return in the month of […]