New Delhi: Central Board of Direct Taxes (CBDT) has issued refunds of over Rs 1,15,917 crore to more than 98.90 lakh taxpayers from April 1, 2021 to November 8, 2021, Income Tax Department tweeted. Out of the total, Income tax refunds of Rs 36,000 crore have been issued in 97,12,911 cases. Corporate tax refunds of […]
Following the introduction of Section 112A, after the long-term capital gain (LTCG) on equity is made taxable, apart from paying 10 per cent tax on such gains over Rs 1 lakh in a financial year, filing the Income Tax Return (ITR) has become a headache for the equity and equity-oriented mutual fund (MF) investors. As […]
Are you eligible for an income tax refund? If you have paid more tax than your actual tax liability in a financial year, then you are eligible to get an income tax refund. You will have to file for a refund in the income tax return (ITR) for that particular year. Once the tax department […]
St. Louis Comptroller Darlene Green, in partnership with the National Association of Black Accountants Inc., and St. Louis Community College, is sponsoring free 2020 income tax return preparations for low-to-moderate wage earners, senior citizens and individuals with disabilities. Due to the coronavirus pandemic, the accountants group will be preparing tax returns virtually. Interested taxpayers are […]
(CNN) — Roughly three-quarters of US tax filers typically end up getting a refund after they file their federal income tax returns. Last year 77% of filers got one, and the average refund was $2,549, according to IRS data. But this year, many filing their 2020 taxes may see a bigger check than usual thanks […]
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 […]