Interest On Tax Refund
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Excess Interest, Late Fee Paid While Filing ITR For 2020-21 To Be Refunded
The Income Tax Department on Wednesday said it will refund the excess interest and late fee paid by taxpayers due to software error while filing ITR for 2020-21.
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Government Proposes To Raise TDS On Interest Income To Rs 40,000
Under the current norms, they are required to seek refund on tax deducted on interest income beyond Rs 10,000 per annum.
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Tax Refund To Exporters Under GST Within Seven Days: Nirmala Sitharaman
The minister also said that exporters would get interest on the refund if it is delayed beyond two weeks.
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Monthly Returns To Be Mandatory Under GST
Moving at a fast pace, the tax department came up with two more draft rules and their formats on GST returns and refunds requiring assessees to file monthly returns and specifying procedure for claiming refunds of taxes, interest and fees.
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Income Tax Department To Pay Interest On Delayed TDS Refund
The Income Tax Department will now add interest to delayed refunds made against excess TDS (tax deducted at source) deductions and will also not litigate with the deductor on this issue in the future.
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Tax Department Paid Rs 42,903 Crore Interest on Tax Refunds
Detailing the expenditure on interest payments by the Central Board of Direct Taxes (CBDT), the CAG said Rs 6,666 crore was spent during 2012-13, Rs 6,486 crore (2011-12), Rs 10,499 crore (2010-11), Rs 6,876 crore (2009-10) and Rs 5,778 crore (2008-09).
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Interest on Tax Refund, Tax Due Should be Uniform: Ficci
Currently, there is a big disparity in the interest rates.
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Finance Ministry disagrees with PAC's views on tax refund interest
Disagreeing with observations of the Public Accounts Committee (PAC), the Finance Ministry on Saturday said it has followed standard practice and not violated any Constitutional provision by not showing interest on tax refund as separate expenditure in the Budget.
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Excess Interest, Late Fee Paid While Filing ITR For 2020-21 To Be Refunded
The Income Tax Department on Wednesday said it will refund the excess interest and late fee paid by taxpayers due to software error while filing ITR for 2020-21.
-
Government Proposes To Raise TDS On Interest Income To Rs 40,000
Under the current norms, they are required to seek refund on tax deducted on interest income beyond Rs 10,000 per annum.
-
Tax Refund To Exporters Under GST Within Seven Days: Nirmala Sitharaman
The minister also said that exporters would get interest on the refund if it is delayed beyond two weeks.
-
Monthly Returns To Be Mandatory Under GST
Moving at a fast pace, the tax department came up with two more draft rules and their formats on GST returns and refunds requiring assessees to file monthly returns and specifying procedure for claiming refunds of taxes, interest and fees.
-
Income Tax Department To Pay Interest On Delayed TDS Refund
The Income Tax Department will now add interest to delayed refunds made against excess TDS (tax deducted at source) deductions and will also not litigate with the deductor on this issue in the future.
-
Tax Department Paid Rs 42,903 Crore Interest on Tax Refunds
Detailing the expenditure on interest payments by the Central Board of Direct Taxes (CBDT), the CAG said Rs 6,666 crore was spent during 2012-13, Rs 6,486 crore (2011-12), Rs 10,499 crore (2010-11), Rs 6,876 crore (2009-10) and Rs 5,778 crore (2008-09).
-
Interest on Tax Refund, Tax Due Should be Uniform: Ficci
Currently, there is a big disparity in the interest rates.
-
Finance Ministry disagrees with PAC's views on tax refund interest
Disagreeing with observations of the Public Accounts Committee (PAC), the Finance Ministry on Saturday said it has followed standard practice and not violated any Constitutional provision by not showing interest on tax refund as separate expenditure in the Budget.
