Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: empanelment :: TDS :: due date for vat payment :: form 3cd :: cpt :: articles on VAT and GST in India :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: VAT RATES :: list of goods taxed at 4% :: ACCOUNTING STANDARDS
 
 
General »
 Alarm bells over return of tax inspector raj
 Shah gets notices over civic tax dues
 Tax revenue down in first six months after prohibition
 Post demonetisation, Income Tax department sends 30 cases of irregularities to Enforcement Directorate, CBI
 Don’t rush into a new tax without being prepared
 Can’t tax income from palace rent: Supreme Court
  Withdrawal of Legal Tender Character of the existing Bank Notes in the denominations of ₹ 500/- and ₹ 1000/- (Updated as on November 30, 2016)
 Cases for tax scrutiny will be selected by machines
 Time to revisit 1997 direct tax rates, says P Chidambaram
 Lok Sabha passes Bill to tax black money deposits post demonetisation
 Last day to pay property tax with old notes

Tax refunds of Rs 1 lakh crore issued so far in FY16
February, 09th 2016

The Income Tax department has issued refunds worth Rs 1 lakh crore till January in the current fiscal, the Finance Ministry said today.

"Income Tax department has so far issued refunds of Rs 1 lakh crore to 1.75 crore assessees in 10 months of 2015-16 fiscal," Revenue Secretary Hasmukh Adhia tweeted.

Aimed at reducing taxpayer grievances and promoting tax-friendly environment, Central Board of Direct Taxes had in December asked officers to issue refunds of amounts less than Rs 50,000 expeditiously.

CBDT had also directed field officers make refunds of up to Rs 5,000. In addition, it directed that refunds, which also have cases of dues of up to Rs 5,000, may be issued without any adjustment of outstanding arrears.

"This (Refund) has created major relief to tax payers. This demonstrates Government's intention to create a tax-friendly environment," Adhia said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System development CMS development Content Management Solutions CMS Solutions Content Management Services CMS Services CMS Software

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions