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Covid-19 has influenced people all across the world in a bigger way. It produces an effect on the financial state of the people living in the world. Towards the medical treatment for those who get influenced through covid-19. Here, we have mentioned all details about income tax refund of TDS deducted on medical treatments for […]
You cannot complain to the Income Tax Department every time if you have not received interest on refund. There are certain facts and circumstances wherein you cannot claim interest on a refund of Income Tax. Meanwhile, it is important to start from scratch and understand the entire mechanism. Whenever liability of tax of an assessee […]
Partha DeSarkar, Global CEO, Hinduja Global Solutions towards the upcoming budget 2021 declared: Allowing the impact from the Covid-19 pandemic, businesses and people seek high expectations from the union budget for high growth, which focuses on financial improvement and reliability. The world is aware that due to coronavirus the income of the government gets reduced […]
For the assessment year 2020-21, there will be a late refund given by the income tax department. You do not have to worry if you already had filed the return for FY 2020-21 but didn’t get the refund yet. As similar to you the most of the assessee who had furnished the taxes in the […]
In the context of flat cancellation, the commissioner of GST and CX (Appeals) Mumbai admits refunding the service tax. The petitioner has booked the residential flat in the project of Bharat Infrastructure & Engineering Pvt. Ltd. for the total contract amount of Rs. 52,58,245. The receipt of Rs 25,00,000 and 27,50,000 from the petitioner the […]
The refunds worth more than ₹ 80,000 crores have to be allotted to the 24.56 lakh taxpayers within the current financial year said the Income-tax department. “CBDT has, so far, issued refunds of over ₹ 88,652 crores to more than 24.64 lakh taxpayers from 1st April 2020 onwards. Income tax refunds ₹ 28,180 crore have […]
A lot of people file their Income Tax Returns (ITR) just to get the refund of excess TDS (Tax Deducted at Source) deducted. But the TDS refunds are only credited if you verify the ITR filed either through EVC/OTP (electronically) or by sending it through the post to Income Tax Department Centralized Processing Centre (CPC), […]
During judgment of a recent case, the Customs Excise and Service Tax Appellate Tribunal (CESTAT), Bangalore has stated that Service Tax Refund paid are not applicable to subsequent GST invoices In a recent announcement, the Finance Ministry has said that no GST invoice will be required for the goods that were taken abroad for exhibitions […]
The rules related to the Re-Issue of Income Tax Refund Requests were very simple to follow. Unlike the initial processing of the Income Tax refund when the refunds were directly credited to your bank account, now the PAN association with the bank account & pre-verification of the bank account is mandatory to get your income […]
