Last Updated: Tuesday, June 23, 2015, 16:35
The department is also planning to fully adopt and use banking services to end the current system of sending I-T refunds over the value of Rs 50,000 via cheques through the postal department.
Last Updated: Tuesday, May 12, 2015, 16:39
The tax department has incurred an expenditure of Rs 42,903 crore on interest payments on refunds during the 6-year period ended 2013-14 without approval of Parliament, official auditor CAG said on Tuesday.
Last Updated: Sunday, May 3, 2015, 13:06
Making a fresh bid to locate Sahara investors eligible for refunds, capital markets regulator SEBI has asked the bondholders of two Sahara firms to submit their claims along with the proof of investments.
Last Updated: Wednesday, March 25, 2015, 16:42
A whopping 16 lakh refunds worth crores of rupees are lying unclaimed at the Income Tax department's central database centre for e-filing for want of "correct data from taxpayers".
Last Updated: Tuesday, March 10, 2015, 16:18
The pending amount for current fiscal so far is Rs 68,032.21 crore; Rs 43,963.42 crore in 2013-14 and Rs 7,968.51 crore in 2012-13.
Last Updated: Thursday, January 9, 2014, 23:17
JPMorgan Chase & Co plans to sell or wind down its business of issuing prepaid cards for corporate payrolls and government tax refunds and benefits, the company said on Thursday.
Last Updated: Wednesday, December 12, 2012, 19:54
Government has so far refunded Rs 57,000 crore tax claims this fiscal and the small income tax payers are getting preference in refunds, Finance Minister P Chidambaram said Wednesday.
Last Updated: Monday, December 10, 2012, 17:04
In its pre-budget recommendation to the Revenue Secretary Sumit Bose, Ficci demanded improving dispute resolution mechanism and immediate implementation of Goods and Services tax (GST).
Last Updated: Sunday, October 21, 2012, 15:45
In case of refund bank facility, refund directly goes to account of concern assessee.
Last Updated: Tuesday, January 3, 2012, 19:53
Streamlining the procedure for service tax refunds for exporters, government today linked it with electronic payment system and fixed the average rate at 0.2-0.3 percent of the shipment value.
Last Updated: Tuesday, November 29, 2011, 18:40
Interest on refunds of Income Tax went up by almost 45 percent to over Rs 9,900 crore during the last fiscal, Parliament was informed Tuesday.
Last Updated: Friday, August 12, 2011, 19:11
Hefty refunds pulled down net direct tax collections by 8.14 per cent to Rs 78,679 crore during the April-July period of this fiscal.
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