Income tax refunds of Rs 92,961 crore issued during this fiscal, says CBDT
3 years, 2 months ago

Income tax refunds of Rs 92,961 crore issued during this fiscal, says CBDT

Firstpost  

This figure includes income tax refunds of Rs 23,026 crore in 61,53,231 cases and corporate tax refunds of Rs 69,934 crore in 1,69,355 cases, an official Twitter post said Refunds amounting to more than Rs 92,961 crore have been issued to taxpayers during the current financial year, the CBDT said on Thursday. This figure includes income tax refunds of Rs 23,026 crore in 61,53,231 cases and corporate tax refunds of Rs 69,934 crore in 1,69,355 cases, an official Twitter post said. 23,026 crore have been issued in 61,53,231 cases &corporate tax refunds of Rs. 69,934 crore have been issued in 1,69,355 cases — Income Tax India October 21, 2021 “The CBDT issues refunds of over Rs 92,961 crore to more than 63.23 lakh taxpayers from 1 April, 2021 to 18th October, 2021.” “This includes 32.49 lakh refunds of AY 2021-22 amounting to Rs 2498.18 crore,” it said.

Tax Refunds Cases Income Crore Cbdt Income Tax Refunds Corporate Tax Refunds  refunds  cbdt  cases  taxpayers  rs  issued  tax  crore  fiscal  lakh  income  92961  includes

History of this topic

India’s net direct tax collection swells 16% to ₹16.90 trillion so far in FY25
Trending News
1 day, 16 hours ago

India’s net direct tax collection swells 16% to ₹16.90 trillion so far in FY25

Live Mint  

New Delhi: Strong growth in tax collection from both personal and corporate income helped the Central government to collect ₹16.9 trillion in direct tax revenue so far this financial year after adjusting for tax refunds, official data showed on Monday. The net direct tax collection growth of 15.9% so far this year exceeds the 12.8% growth rate that finance minister …

Net direct tax receipts grows 16.45% to ₹15.82 lakh crore till mid-December
3 weeks, 6 days ago

Net direct tax receipts grows 16.45% to ₹15.82 lakh crore till mid-December

Live Mint  

The Centre’s direct tax collection from corporations and individuals after adjusting for tax refunds has reached ₹15.8 trillion so far this year, jumping 16.45% over the previous year and outpacing the budget estimate. While non-corporate tax collection from individuals and other entities like partnerships and local authorities, after adjusting for refunds, recorded a 22% jump so far this year to …

Only 6.68 pc of population filed income tax return in 2023-24 fiscal | DEATILS
4 weeks ago

Only 6.68 pc of population filed income tax return in 2023-24 fiscal | DEATILS

India TV News  

Income tax returns: The country's population may be the largest in the world, but Indians are still lagging behind in filing income tax returns. The latest data shows that only 6.68 per cent of India's population filed income tax returns for the financial year 2023-24, Minister of State for Finance Pankaj Chaudhary said in a written reply to the Rajya …

Centre’s net direct-tax revenue grows 15.4% to ₹12.1 trillion in April-Nov
2 months ago

Centre’s net direct-tax revenue grows 15.4% to ₹12.1 trillion in April-Nov

Live Mint  

New Delhi: The union government’s direct-tax collection has grown by 15.41%, after tax refunds, to ₹12.1 trillion so far this financial year, the Central Board of Direct Taxes said on Monday. Securities transaction tax contributed ₹35,923 crore so far this financial year, 90% more than the ₹18,909 crore collected in the same period a year ago, CBDT data showed. So …

Income Tax Filers Exceed 2.3 Lakh, with High Majority Being Businesspersons and Professionals
2 months, 3 weeks ago

Income Tax Filers Exceed 2.3 Lakh, with High Majority Being Businesspersons and Professionals

Hindustan Times  

Number of taxpayers with over ₹1 crore of taxable income rose significantly in the assessment year 2023-24. The number of taxpayers with more than ₹1 crore of taxable income increased by more than five times, reaching nearly 2.3 lakh. This surge in income earners is attributed to the rise in the number of salaried individuals earning over ₹1 crore, with …

India's Tax Filers Surge Fivefold, With 52% of Salaried Individuals Reporting Income Over Rs 1 Crore
2 months, 3 weeks ago

India's Tax Filers Surge Fivefold, With 52% of Salaried Individuals Reporting Income Over Rs 1 Crore

ABP News  

India's tax filers have seen a significant surge in recent years, with the number of individuals reporting taxable incomes exceeding Rs 1 crore surging fivefold in the assessment year 2023-24. This growth has been driven by both an increase in the total number of taxpayers and an increase in the number of individuals with taxable incomes exceeding Rs 1 crore.

Tax department made Rs 1.57 lakh crore refunds so far, says official
4 months, 3 weeks ago

Tax department made Rs 1.57 lakh crore refunds so far, says official

New Indian Express  

The Income Tax Department of the Ministry of Finance has processed refunds worth Rs 1.57 lakh crore so far, according to a top Government official. "Those who have not yet received their tax refunds need to check if they have got any notification from the tax department. Revenue Secretary Sanjay Malhotra on Wednesday shared that close to 4 crore Income …

Net direct tax collection rises 22% so far this fiscal
5 months ago

Net direct tax collection rises 22% so far this fiscal

Live Mint  

New Delhi: The central government’s direct tax collection has risen 22.48% so far this fiscal. Personal tax collection jumped 30% year-on-year to ₹4.47 trillion, while corporate taxes have risen 6% to ₹2.22 trillion. For FY25, the government targets a corporate tax mop-up of ₹10.2 trillion and personal income tax collection of ₹11.87 trillion. The total direct tax collection before adjusting …

Tax defaults in India skyrocket by 1000% over last 10 years, litigations double: Report
5 months, 1 week ago

Tax defaults in India skyrocket by 1000% over last 10 years, litigations double: Report

Hindustan Times  

Tax defaults in India have skyrocketed by 1000% in the last ten years and litigation associated with it has also consequently risen, according to a Moneycontrol report, which cited data compiled from various Union Budgets. Tax defaults in India skyrocketed by 1000% in the last ten years and associated litigation has also consequently risen How much tax default did India …

Budget 2024: Income tax slabs changed, standard deduction increased. Read details
5 months, 3 weeks ago

Budget 2024: Income tax slabs changed, standard deduction increased. Read details

Op India  

On Tuesday, Finance Minister Nirmala Sitharaman presented the Annual Financial Statement before the Lok Sabha. The Finance Minister has given relief to taxpayers who choose to opt for the New Tax regime as the tax slabs have been revised and the Standard deduction limit has been increased from Rs 50,000 to Rs 75,000. Personal Income Tax: The Union Finance Minister …

India's 2024 Budget: A push for tax reform
5 months, 4 weeks ago

India's 2024 Budget: A push for tax reform

India Today  

The 2024 Budget, scheduled for July 23, may see tweaks to key tax policies to boost government revenue — bold steps to tackle tax evasion and improve tax compliance. 1980: For every Rs 100 collected, Rs 11 came from income tax, Rs 12 from corporate tax, Rs 1 from other direct taxes, and Rs 76 from other indirect taxes. 2000: …

Corporate tax cut enriched billionaires by Rs 2 lakh crore; middle-class hit by heavy taxes: Congress
6 months ago

Corporate tax cut enriched billionaires by Rs 2 lakh crore; middle-class hit by heavy taxes: Congress

New Indian Express  

NEW DELHI: With the personal income tax collections exceeding the corporate tax collections, the Congress alleged on Sunday that the corporate tax cut has put over Rs 2 lakh crore in the "pockets of billionaires," while the middle class continues to bear the weight of heavy taxation. The opposition party's attack on the government came a day after data released …

India's Direct Tax Collections Surge
8 months, 3 weeks ago

India's Direct Tax Collections Surge

Deccan Chronicle  

New Delhi: Reflecting buoyancy in the economy and rise in income levels of both individuals and corporates, India's net direct tax mop-up has surged by 17.7 per cent year-on-year to Rs 19.58 crore after accounting for refunds in the fiscal year ended March 2024. At the same time, the gross direct tax collections for the FY24 rose 18.48 per cent …

Direct Tax Collections Grow 18 Per Cent To Rs 19.58 Lakh Crore In FY24, Beat Revised Estimates
8 months, 3 weeks ago

Direct Tax Collections Grow 18 Per Cent To Rs 19.58 Lakh Crore In FY24, Beat Revised Estimates

ABP News  

The direct tax collections for the 2023-24 fiscal year increased almost 18 per cent against the funds collected in the previous fiscal year, official data from the Ministry of Finance revealed on Sunday. ➡️Net Direct Tax collections for FY2023-24 exceed the Budget Estimates by ₹ 1.35 lakh crore i.e by 7.40% & Revised Estimates by 0.67% ➡️Gross Direct Tax collections …

Govt’s FY24 tax collection target broadly met on back of robust economic activity: Report
9 months, 1 week ago

Govt’s FY24 tax collection target broadly met on back of robust economic activity: Report

Live Mint  

The central government’s tax collection target of over ₹34.37 lakh crore for fiscal year 2023-24 has been broadly met on the back of robust economic activity and improved compliance, according to a report by PTI. The net direct tax collection grew 19.88 per cent to over ₹18.90 lakh crore till March 17 on higher advance tax mop-up. Advance tax collections …

India's Net Direct Tax Collections Rise 20 Per Cent to Rs 18.9 Lakh Crore
9 months, 3 weeks ago

India's Net Direct Tax Collections Rise 20 Per Cent to Rs 18.9 Lakh Crore

ABP News  

The direct tax collection of the Centre after adjusting for refunds has grown 19.88 per cent annually to Rs 18.9 lakh crore in FY2023-24, compared to the corresponding period of the preceding Financial Year, where collections amounted to Rs 15.7 lakh crore. This substantial rise in net collections primarily comprises Corporation Tax at Rs 9.1 lakh crore and Personal Income …

India’s direct tax collections grow 20 per cent for financial year 2023-24
9 months, 3 weeks ago

India’s direct tax collections grow 20 per cent for financial year 2023-24

India TV News  

Business news: The net direct tax collection grew 19.88 per cent to over Rs 18.90 lakh crore till March 17 on higher advance tax mop-up. The Central Board of Direct Taxes said net direct tax collection of Rs 18,90,259 crore includes Corporation Tax at Rs 9,14,469 crore and Personal Income Tax, including Securities Transaction Tax at Rs 9,72,224 crore. Advance …

Net direct tax collection stands at Rs 15.60 lakh crore Y-o-Y growth of 20%
11 months ago

Net direct tax collection stands at Rs 15.60 lakh crore Y-o-Y growth of 20%

India TV News  

New Delhi: Net direct tax collection in the current fiscal year has witnessed a growth of 20 per cent year-on-year to Rs 15.60 lakh crore. Direct tax collections up to 10th February 2024 show that gross collections are at Rs 18.38 lakh crore, which is 17.30 per cent higher than the gross collections for the corresponding period of last year," …

Robust revenues: On direct tax collection target and fiscal consolidation
1 year ago

Robust revenues: On direct tax collection target and fiscal consolidation

The Hindu  

With little under a quarter left in the financial year 2023-24, the government has met nearly 81% of its direct tax collection target. Economists believe the exchequer’s net direct tax kitty will end up surpassing the Budget estimate of ₹17.2 lakh crore by about a lakh crore if not more, with the full-year growth settling at around 18%. Within direct …

Direct tax collections cross 80% of 2023-24 target
1 year ago

Direct tax collections cross 80% of 2023-24 target

The Hindu  

India’s net direct tax collections touched ₹14.7 lakh crore by January 10, meeting over four-fifths of this year’s target and reflecting a growth of 19.4% over the same period of 2022-23. The Central Board of Direct Taxes on Thursday said that provisional direct tax collections continue to register ‘steady growth’ with gross collections rising 16.77% to ₹17.18 lakh crore, led …

Tax kitty up 20.7%, crosses 75% of Budget target
1 year ago

Tax kitty up 20.7%, crosses 75% of Budget target

The Hindu  

India’s net direct tax collections had grown 20.7% by December 17 to cross ₹13.70 lakh crore, the Finance Ministry said on Monday, indicating that 75.15% of the year’s direct tax target has been met. “The net direct tax collection of ₹13,70,388 crore includes Corporation Tax at ₹6,94,798 crore and Personal Income Tax including Securities Transaction Tax at ₹6,72,962 crore,” the …

Direct tax collections reach ₹11.07 lakh crore, up 18% YoY
1 year, 3 months ago

Direct tax collections reach ₹11.07 lakh crore, up 18% YoY

Hindustan Times  

A total of ₹11.07 lakh crore worth of direct taxes have been collected so far in the current financial year 2023-24, representing a 17.95 per cent increase on a yearly basis, Central Board of Direct Taxes Chairman Nitin Gupta said on Tuesday. Direct tax collection, net of refunds, stood at ₹9.57 lakh crore which is 21.82 per cent higher than …

Direct tax collection grows 17% to ₹5.84 tn
1 year, 5 months ago

Direct tax collection grows 17% to ₹5.84 tn

Live Mint  

The central government has collected ₹5.84 trillion in net direct tax revenues as of 10 August, marking a significant 17% improvement over a year-ago, according to an official statement. This accounts for about one third of the ₹18.2 trillion direct tax collection target of the government for FY24. The Central Board of Direct Taxes said in a statement quoting provisional …

Direct tax collections rise 16% to ₹6.53 lakh crore so far this fiscal
1 year, 5 months ago

Direct tax collections rise 16% to ₹6.53 lakh crore so far this fiscal

Hindustan Times  

Net direct tax collections swelled 17.33 per cent to ₹5.84 lakh crore so far this fiscal, reaching 32 per cent of the full-year budget estimates. On a gross basis, direct tax collection grew 15.73 per cent to ₹6.53 lakh crore till August 10 in the current fiscal. Net direct tax collection, after adjusting refunds, stands at ₹5.84 lakh crore, which …

Income Tax Department claims record 6.77 crore ITRs filed till July 31 for Assessment Year 2023-24
1 year, 5 months ago

Income Tax Department claims record 6.77 crore ITRs filed till July 31 for Assessment Year 2023-24

India TV News  

The income tax department on Monday stated that a record 6.77 crore income tax returns for the Assessment Year 2023-24 were filed till July 31 this year, including 53.67 lakh first-time payers. It further stated that July's income tax returns are 16.1 per cent more than the total ITRs for Assessment Year 2022-23. "The total number of ITRs for AY …

Over 6 crore Income Tax Returns filed for 2022-23 fiscal: Government data
1 year, 5 months ago

Over 6 crore Income Tax Returns filed for 2022-23 fiscal: Government data

India TV News  

Income Tax Return: The Income Tax Department on Sunday shared that more than 6 crore tax returns have been filed for income earned in the 2022-23 fiscal. The last date for filing income tax returns for the previous year by salaried class and those who do not have to get their accounts audited is July 31. Giving statistics on the …

CBDT Notifies New Monetary Limits For Condonation Of Delay In Filing Refund Claim And Claim Of Carry Forward Of Losses
1 year, 7 months ago

CBDT Notifies New Monetary Limits For Condonation Of Delay In Filing Refund Claim And Claim Of Carry Forward Of Losses

Live Law  

The Central Board of Direct Taxes has issued new monetary limits in respect of condonation of delay in filing refund claim and claim of carry forward of losses under Section 119 of the Income-tax Act, 1961.The Principal Commissioners of Income-tax/Commissioners of Income-tax shall be vested with the powers of acceptance/rejection of applications/claims if the. The Central Board of Direct Taxes …

Direct tax receipts after refunds in FY23 grow 18%
1 year, 9 months ago

Direct tax receipts after refunds in FY23 grow 18%

Live Mint  

New Delhi: The government collected ₹16.61 trillion in direct taxes after refunds in FY23, a 17.6% improvement over takings in the preceding year, the Central Board of Direct Taxes said on Monday, quoting provisional figures. Gross direct tax collections for FY23 before adjusting for tax refunds stood at ₹19.68 trillion, a growth of 20.33%, CBDT said. Gross collections of direct …

Income-tax collections grow 20% in one year, nears ₹20 lakh crore mark
1 year, 9 months ago

Income-tax collections grow 20% in one year, nears ₹20 lakh crore mark

Hindustan Times  

NEW DELHI: The Union finance ministry on Monday reported over 20% year-on-year jump in gross direct tax revenue at ₹19.68 lakh crore for the financial year ending March 31, 2023, days after it declared about 22% annualised growth in Goods and Services Tax collections at ₹18.1 lakh crore, reflecting sustained growth in economic activities, better tax administration and ease of …

Net direct tax collection rises 16.8%, reaches closer to Budget target for 2022-23
1 year, 10 months ago

Net direct tax collection rises 16.8%, reaches closer to Budget target for 2022-23

The Hindu  

India’s net direct tax kitty had risen 16.8% to touch ₹13.73 lakh crore by Friday, reflecting a slight dip in growth over the past month but reaching within striking distance of the Budget target for this year, with three weeks still to go. The uptick in net Personal Income Tax collections continued to outstrip Corporate Income Tax flows, rising 20.73% …

India's net direct tax collections up 17% to Rs 13.73 lakh crore till March 10
1 year, 10 months ago

India's net direct tax collections up 17% to Rs 13.73 lakh crore till March 10

India Today  

The net direct tax collection for the fiscal year 2022-23 has so far grown by 17 per cent to reach Rs 13.73 lakh crore, which is 83 per cent of the revised target for the full financial year. The gross collections are 22.58 per cent higher than the gross collections for the corresponding period of last year, the Central Board …

Gross direct tax collections grew 24% to ₹15.67 lakh crore this fiscal
1 year, 11 months ago

Gross direct tax collections grew 24% to ₹15.67 lakh crore this fiscal

Hindustan Times  

Gross direct tax collections grew 24 per cent to ₹15.67 lakh crore so far this fiscal, the finance ministry said on Saturday. After adjusting for refunds, the net direct tax collection stood at ₹12.98 lakh crore, a growth of 18.40 per cent. Direct tax collections up to 10th February, 2023 show that gross collections are at ₹15.67 lakh crore which …

Govt Rakes In Rs 13,63,649 Crore As Direct Tax In FY23, Collection Up By 26% Over Last Fiscal Year
2 years ago

Govt Rakes In Rs 13,63,649 Crore As Direct Tax In FY23, Collection Up By 26% Over Last Fiscal Year

ABP News  

New Delhi: India's gross direct tax collections stood at Rs 13,63,649 crore, recording a 25.90 per cent growth, in the financial year, as against ₹10,83,150 crore in the same period for the preceding year. 9,47,959 Cr in the corresponding period of the preceding Financial Year, representing an increase of 19.81%: Ministry of Finance pic.twitter.com/TYrUFhKmCm — ANI December 18, 2022 Notably, …

Net Direct Tax Collection Up By 24% To Rs 8.77 Lakh Crore In April To November Period
2 years, 1 month ago

Net Direct Tax Collection Up By 24% To Rs 8.77 Lakh Crore In April To November Period

ABP News  

New Delhi: The net direct tax collection rose 24 per to Rs 8.77 lakh crore in April-November of the ongoing fiscal, which is about 61.79 per cent of the full-year Budget Estimates of direct tax collection for 2022-23, the Finance Ministry informed on Monday. “Direct tax collection net of refund stands at Rs 8.77 lakh crore as of November 30, …

Direct Tax Collection Jumps 24% to Rs 8.7 Lakh Crore During April-November; Hits 62% of FY23 BE
2 years, 1 month ago

Direct Tax Collection Jumps 24% to Rs 8.7 Lakh Crore During April-November; Hits 62% of FY23 BE

News 18  

Showing a steady growth, net direct tax collections in India jumped 24.26 per cent year-on-year to Rs 8.77 lakh crore till November 11 in the current financial year 2022-23. Steady growth in Direct Tax collections!Net collection in FY 2022-23 is 24.26% higher than the net collection for the corresponding period of the preceding year.61.79% of Budget Estimates for FY 2022-23 …

Direct tax revenues up 16.3% at ₹7.45 lakh crore
2 years, 3 months ago

Direct tax revenues up 16.3% at ₹7.45 lakh crore

The Hindu  

India’s net Direct tax collections in 2022-23 have risen to ₹7.45 lakh crore, more than half this year’s Budget targets by October 8, rising 16.3% over the tax inflows during the same period a year ago, the Finance Ministry said on October 9, 2022. Underlining that Direct Tax collections continue to register steady growth, the ministry said that tax refunds …

Direct tax collection rises by 30% to Rs 8.36 lakh crore
2 years, 3 months ago

Direct tax collection rises by 30% to Rs 8.36 lakh crore

Deccan Chronicle  

NEW DELHI: Gross direct tax collections grew 30 per cent to Rs 8.36 lakh crore till September 17 of current fiscal year on higher advance tax mop-up buoyed by the economic revival post pandemic, the finance ministry said on Sunday. After adjusting for refunds amounting to Rs 1.35 lakh crore, net direct tax kitty grew 23 per cent to Rs …

Net direct tax kitty crosses ₹7 lakh crore
2 years, 3 months ago

Net direct tax kitty crosses ₹7 lakh crore

The Hindu  

India’s net direct tax collections have crossed ₹7 lakh crore so far this year, 23.33% higher than the same period last year, signalling a clear post-pandemic rebound in the economy, the Finance Ministry said on Sunday. Net direct tax collections as on Saturday stood at ₹7,00,669 crore, compared to ₹5,68,147 crore as of September 17, 2021, with corporate taxes inflow …

Direct Tax Collections Jump 23% To Rs 7 Lakh Crore During Current Fiscal So Far; Check Details
2 years, 3 months ago

Direct Tax Collections Jump 23% To Rs 7 Lakh Crore During Current Fiscal So Far; Check Details

News 18  

In another indication of a post-pandemic economic recovery, India’s direct tax collections continue to grow at a robust pace in the current financial year so far. Direct tax collections jumped 23 per cent year-on-year to Rs 7 lakh crore during the financial year 2022-23 so far. It said, “The figures of direct tax collections for the FY 2022-23, as on …

Direct Tax Collection Rises 35.46% So Far This Fiscal, Govt Collects Rs 6.48 Lakh Crore
2 years, 4 months ago

Direct Tax Collection Rises 35.46% So Far This Fiscal, Govt Collects Rs 6.48 Lakh Crore

News 18  

Direct tax collection has increased by 35.46 per cent to Rs 6.48 lakh crore in the current fiscal up to September 8, the finance ministry said. Direct tax collection, net of refunds, stands at Rs 5.29 lakh crore which is 30.17 per cent higher than the net collections for the corresponding period of last year, according to the data released …

Direct Tax Collection Up By 49% In FY22, Says CBDT Chief On Economy Bouncing Back
2 years, 8 months ago

Direct Tax Collection Up By 49% In FY22, Says CBDT Chief On Economy Bouncing Back

ABP News  

New Delhi: In an indication that the economy has bounced back, the Central Board of Direct Taxes Chairman J B Mohapatra on Tuesday said the net direct tax collection has registered a whopping 49.02 per cent growth to record Rs 14.09 lakh crore in FY21-22. The net direct tax mop-up touched Rs 9.45 lakh crore in the previous financial year. …

Ericsson India to Get Rs 349-crore Tax Refund After HC Directs I-T Dept
2 years, 9 months ago

Ericsson India to Get Rs 349-crore Tax Refund After HC Directs I-T Dept

News 18  

Providing relief to Ericsson India, the High Court of Delhi has directed the income tax department to release a refund of Rs 349 crore which is related to the assessment year 2018-19, according to a report. The court set aside an order by the income tax department to withhold the refund to the company under Section 241A of the Income …

Income tax alert: Taxpayers must complete this process now
2 years, 10 months ago

Income tax alert: Taxpayers must complete this process now

India Today  

The income tax department has issued a reminder to taxpayers. Failure to comply with the notice may result in Best Judgment assessment based on material on record," the tax department tweeted. — Income Tax India March 9, 2022 Central Board of Direct Taxes issued refunds of more than Rs. 1,83,579 crore to more than 2.09 crore taxpayers, Income Tax India …

Taxpayers must not miss this Income tax department's ITR alert
2 years, 10 months ago

Taxpayers must not miss this Income tax department's ITR alert

India Today  

The Income tax department has an important update for taxpayers who have filed income tax returns. Out of the total, income tax refunds of Rs 65,938 crore have been issued in 2,07,27,503 cases. Corporate tax refunds of Rs 1,17,641 crore have been issued in 2,30,566 cases, Income Tax India tweeted. 1,17,641 crore have been issued in 2,30,566 cases," Income Tax …

CBDT Issues Rs 92,961 Cr Refunds to 63.23 Lakh Taxpayers
3 years, 2 months ago

CBDT Issues Rs 92,961 Cr Refunds to 63.23 Lakh Taxpayers

News 18  

The Income Tax Department has refunded more than Rs 92,961 crore to more than 63.23 lakh taxpayers till October 18 in the current financial year. “CBDT issues refunds of over Rs 92,961 crore to more than 63.23 lakh taxpayers from April 1, 2021 to October 18, 2021. This includes 32.49 lakh refunds of AY 2021-22 amounting to Rs 2,498.18 crore,” …

Tax refund: I-T Department asks taxpayers to send online response for AY 20-21
3 years, 4 months ago

Tax refund: I-T Department asks taxpayers to send online response for AY 20-21

Live Mint  

The Income Tax Department has urged taxpayers to "respond online quickly" so that their pending refunds for assessment year 2020-21 can be processed expeditiously. In order to resolve pending refunds of assessment year 2020-21, the income tax department is in the process of communicating with taxpayers, where response from taxpayers would be required in cases involving notices "for prima facie …

Net Direct Tax Mop Up Exceeds Revised Estimates at Rs 9.45 Lakh Crore in FY21
3 years, 9 months ago

Net Direct Tax Mop Up Exceeds Revised Estimates at Rs 9.45 Lakh Crore in FY21

News 18  

The net direct tax collection for the fiscal ended March 31 stood at Rs 9.45 lakh crore, an increase of 5 per cent over the revised estimates in the Union Budget. Central Board of Direct Taxes Chairman P C Mody on Friday said the income tax department has exceeded the revised estimates despite issuing substantial refunds in the 2020-21 fiscal. …

CBDT issues refunds of over ₹1,29,190 cr to nearly 4 mn taxpayers since April
4 years, 2 months ago

CBDT issues refunds of over ₹1,29,190 cr to nearly 4 mn taxpayers since April

Live Mint  

New Delhi: The Central Board of Direct Taxes on Wednesday said it has so far issued over ₹1,29,190 crore in refunds to over 39.49 lakh taxpayers from April till November 3. As per the I-T Department, income tax refunds of ₹34,820 crore have been issued in connection with 37,55,428 cases and corporate tax refunds of ₹94,370 crore have been issued …

CBDT issues over ₹98,625 crore to 26.2 lakh taxpayers since April
4 years, 4 months ago

CBDT issues over ₹98,625 crore to 26.2 lakh taxpayers since April

Live Mint  

The Central Board of Direct Taxes has issued refunds of over ₹98,625 crore to more than 26.2 lakh taxpayers between April 1 to September 1, 2020, said the Income Tax Department in a statement on Wednesday. The CBDT earlier said the income tax authorities can share information with scheduled commercial banks, a move that would ease the lenders’ hassle of …

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