crypto pay eligible verify cases limit 202223 important case savings cyclone cant villages act bank india linking lead salaried indias twitter deduct paid interest digital submission old financial status gig

Articles for Itr, search results for processing

ITR refund pending? Tax dept legally has time until 2025 to process it
3 months, 3 weeks ago

ITR refund pending? Tax dept legally has time until 2025 to process it

Business Standard  

The Income Tax Department is processing millions of returns – a task that can take until the end of 2025 to complete for some taxpayers. If the refund is delayed beyond these periods, the taxpayer is entitled to receive interest on the refund amount as per Section 244A of the Income Tax Act,” he said. Interest on Income Tax refund …

Tax Income Interest Process Status Itr Return
Taxpayers alert! ITR processing time reduced to 10 days from 93 days
4 months, 1 week ago

Taxpayers alert! ITR processing time reduced to 10 days from 93 days

Hindustan Times  

Finance minister Nirmala Sitharaman said that the average time taken to process income tax returns has decreased from 93 days in 2013 to 10 days. Finance minister said that the 'average' processing time has been reduced to 10 days. {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}} No, not all ITRs are going to be processed in 10 days as the Finance minister said …

Tax Tax Refunds Processing 10 Days Itr Process
How much average processing time of ITR reduced in 10 years? Sitharaman reveals
10 months, 3 weeks ago

How much average processing time of ITR reduced in 10 years? Sitharaman reveals

Hindustan Times  

Union finance minister Nirmala Sitharaman on Thursday underscored the government's steadfast commitment to enhancing taxpayer services as she highlighted a transformative shift in tax assessment methodologies over the past five years. Union Finance Minister Nirmala Sitharaman presents the Interim Budget 2024 in the Lok Sabha, at Parliament House in New Delhi, Thursday, Feb. 1, 2024. One of the standout achievements …

Tax Sitharaman Returns Tax Returns Interim Budget
Average income tax return processing time reduced to 10 days. Details here
1 year, 3 months ago

Average income tax return processing time reduced to 10 days. Details here

Live Mint  

The average processing time for Income Tax Returns has significantly improved over the years as reported on the CNBCTV18 site. This is a remarkable improvement compared to the 82-day processing time in the Assessment Year 2019-20 and the 16-day processing time in the Assessment Year 2022-23. As per the Department's statement, out of the 6 crore 98 lakh ITRs filed …

Tax Department Itr
CBDT processed 88 per cent ITR, refunds over Rs 2.45 crore issued till September 5
1 year, 3 months ago

CBDT processed 88 per cent ITR, refunds over Rs 2.45 crore issued till September 5

Firstpost  

“More than 6 crore ITRs of AY 2023-24 have been processed out of the verified ITRs as on September 5, resulting in processing of over 88% of the verified ITRs” CBDT said in a statement. The Income Tax Department has processed refunds of over Rs 2.45 crore for 6.84 crore verified Income tax returns, bringing down the average processing time …

Cbdt Taxpayers Itrs Itr Refunds
CBDT Authorises CCIT/DGIT Rank Officials To Condone Delay In ITR-filing By Co-Operative Societies
1 year, 4 months ago

CBDT Authorises CCIT/DGIT Rank Officials To Condone Delay In ITR-filing By Co-Operative Societies

Live Law  

The Central Board of Direct Taxes has authorised Chief Commissioners of Income Tax and Directors General of Income Tax rank officials to condone delays in ITR-filing by cooperative societies. "CCIT and DGIT are required to admit all pending and new applications and decide them on merits, in accordance with the law where such a person is required to get his …

Tax Income Tax Income Delay Itr Cbdt Dgit
Attention Taxpayers! Online ITR Filing Enabled For AY 2023-24
1 year, 7 months ago

Attention Taxpayers! Online ITR Filing Enabled For AY 2023-24

News 18  

The Income Tax department has enabled online filing of income tax returns 1 and 4, filed by individuals, professionals and small businesses, for the financial year 2022-23. The software/utilities for preparing other ITRs/ Forms will be enabled shortly.…— Income Tax India May 23, 2023 The last date for filing Income Tax returns for fiscal 2022-23 for people who do not …

Tax Income Filing Itr Taxpayers Online Mode Enabled Online
Income Tax Return Filing: Should you file your returns online or offline?
1 year, 7 months ago

Income Tax Return Filing: Should you file your returns online or offline?

Firstpost  

It is a mandatory requirement for individuals who earn a specific income threshold to submit their Income Tax Returns. When it comes to filing your income tax returns, you have the choice of either filing them online or offline. Now, let’s explore the distinctions between these two methods: Online filing Quick processing: The income tax department tends to process online …

Tax Online Income Submit Filing Returns Itr Your Itr
ITR filing: How long one should keep income tax return documents?
1 year, 11 months ago

ITR filing: How long one should keep income tax return documents?

Live Mint  

ITR filing: Filing income tax return is one of the most important responsibilities of an earning individual. However, keeping one's income tax return-related documents is also important to answer any query of the income tax department in future and avoid action under the Black Money Act 2015. However, the income tax department has power to send notice under income escaping …

Tax Assessment Documents Income Notice Act 10 Years
Filing Of ITR Instead Of Income Certificate Cannot Deprive Eligible Meritorious Candidate Of Scholarship: Delhi High Court
2 years ago

Filing Of ITR Instead Of Income Certificate Cannot Deprive Eligible Meritorious Candidate Of Scholarship: Delhi High Court

Live Law  

The Delhi High Court has observed that a mere mistake of filing Income Tax Return certificate instead of Income Certificate cannot lead to a situation where an eligible meritorious candidate is deprived of the scholarship, when the two documents prove "same parameters of income requirements".Justice Prathiba M Singh made the observation while directing the Ministry of Social Justice. The Delhi …

Social Justice High Court Scholarship Delhi High Court Documents Income Ministry
When do you become eligible for an income tax refund?
2 years, 8 months ago

When do you become eligible for an income tax refund?

Live Mint  

A mismatch between the tax amount paid and the actual payable amount results in an income tax refund. Tax refunds are available under income tax and other direct tax legislation when the amount of tax paid by a person exceeds the amount on which he or she is legitimately taxable. The IT refund banker accepts orders for income tax refunds …

Income Tax Income Interest Itr Paid Tom Jerry
No proposal to extend last date for ITR filing: Govt
2 years, 11 months ago

No proposal to extend last date for ITR filing: Govt

India TV News  

Highlights Taxpayers must note that the official deadline for filing of income tax returns remains Dec 31, 2021 5.62 cr ITRs have been filed till December 31, according to the government data ITR verification deadline extended till February 28, 2022 for FY20 The Centre on Friday said that the last date for filing income tax return will not be extended. …

Bengaluru Tax Verification Income Date Cpc Filing
I-T department relaxes time till February 2022 for taxpayers to complete verification of FY'20 ITRs
2 years, 11 months ago

I-T department relaxes time till February 2022 for taxpayers to complete verification of FY'20 ITRs

The Hindu  

Taxpayers who have not e-verified their ITRs for 2019-20 fiscal can complete the verification process by February 28, 2022, as the Income Tax department has given a one-time relaxation to assessees. As per law, an income tax return, filed electronically without a digital signature, has to be verified electronically through Aadhaar OTP, or net-banking, or code sent through demat account, …

Bengaluru Tax Verification Process Cpc Itr Return
How to Check ITR-V Receipts Status Online
3 years, 1 month ago

How to Check ITR-V Receipts Status Online

India Today  

Upon e-filling the Income Tax Return offline or online, it is an important task to check or verify your Income Tax Return. A taxpayer can authenticate his or her Income Tax Return using a Digital Signature Certificate, Aadhar OTP, EVC using Prevalidated Bank Account Details, and EVC using Prevailed Demat Account Details. Tax Payers who do not wish to e-verify …

Tax Income Status Itr Return Income Tax Department Income Tax Return
Filed Your Income Tax Return? Here is What Happens Next
4 years ago

Filed Your Income Tax Return? Here is What Happens Next

News 18  

So you have filed your Income Tax Returns for this year and want to know what lies ahead. For non-audit cases, the last date to file Income Tax Returns is now December 31, 2020 and for audit cases it is January 31, 2021. — The first thing for you to do after filing your Income Tax returns is to ensure …

Tax Income Process File Itr Return Taxpayer