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: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: ACCOUNTING STANDARD :: cpt :: TDS :: empanelment :: VAT RATES :: form 3cd :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: due date for vat payment :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4%
 
 
« General »
 Tax breather for foreign investors: All you need to know
 What the increase in tax collections does not tell us about Indian economy post demonetisation
 India’s crazy retrospective tax on foreign funds will tarnish country’s reputation
 How tax related, PAN grievances can be resolved through E-Nivaran
 Tackling income tax exemptions for equities and agriculture
 Amfi wants tax benefits for retirement plans
 Top five factors which could chart market direction in the coming week
 Tax rate hikes boost shadow economy
 Tax mop-up may decline in new amnesty scheme
 Weeks before Budget, Finance Minister Arun Jaitley lists out benefit of low tax rates
 Second home loan tax benefits

Income tax dept may settle 90 lakh refund claims this fiscal
March, 18th 2011

The Income Tax (I-T) department is likely to settle 90 lakh refunds claims this fiscal, the highest in any financial year.

"Already, 74 lakh refunds have been issued and another 15 lakh would be issued till March 31," an I-T official told PTI.

The 74 lakh refunds constitute an amount of Rs 65,000 crore as compared to Rs 49,000 crore in the last fiscal. In the last fiscal, the department had settled 50 lakh refund claims.

Besides, the Central Board of Direct Taxes have instructed the I-T commissioners to personally attend the tax payers queries regarding the refunds and expedite the process.

"We are trying to settle as much as possible refund this year," the official added.

Despite this huge tax refunds, net direct tax collections grew by 20.75% to Rs 3,36,117 crore during the April-February period of the current financial year.

Corporate income tax collections grew by 24.01% to Rs 223,612 crore during the review period from Rs 1,80,318 crore in the corresponding period a year ago. Furthermore, personal income tax grew by 14.76% to Rs 1,12,114 crore.

During this 11-month period, refunds stood at Rs 59,602 crore as against Rs 41,741 crore during the same period last fiscal.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Organic SEO Outsourcing Organic Search Engine Optimization Outsourcing Organic Website SEO Organic SEO India Website SEO India Organic Search Engine Optimization India Organic Internet SEO India Organic Web

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