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Transactions Tracked By Income Tax Department: Imagine you buy a coffee, pay for your movie ticket, or transfer money to a friend. Most of these everyday transactions go unnoticed, yet some payments, investments, and bank movements quietly catch the attention of the Income Tax Department. Have you ever wondered why certain transactions are tracked while…
New Delhi: If you’re still waiting for your income tax refund, you’re not alone. Many taxpayers are experiencing longer-than-usual delays this year. Although a large number of people have already received their refunds, several claims are on hold after being flagged for review by the income tax department’s system. In total, 6.97 crore ITRs were…
New Delhi: The Central Board of Direct Taxes (CBDT) has rolled out a new rule aimed at simplifying Income Tax Return (ITR) corrections and ensuring faster tax refunds for taxpayers. The notification, issued on October 27, 2025, empowers the Centralised Processing Centre (CPC), Bengaluru, to make quick corrections under Section 154 of the Income Tax…
New Delhi: Many taxpayers have recently faced an issue where their Income Tax Return (ITR) refund status displays as “processed,” but the refund amount has not been credited to their bank account. This situation often causes confusion, but it usually results from technical or banking delays rather than an error in filing. After your ITR…
Mumbai1 hour ago Copy link The last date for filing income tax returns is ending today i.e. on 15 September. If the return is not filled till 12 o’clock at night before this deadline, then a fine of up to Rs 5000 can be imposed. The last date for filing Income Tax Return (ITR) is…
New Delhi: For many taxpayers across India, the wait for income tax refunds has been unusually long this year. According to the Income Tax Department’s website, nearly 1.23 crore income tax returns (ITRs) are still pending for processing, out of the 3.98 crore returns filed so far. While 2.74 crore ITRs have already been cleared…
New Delhi: After filing their Income Tax Return (ITR), many taxpayers eagerly wait for their tax refund—especially if they’ve paid more tax than necessary during the year. Naturally, the big question that follows is: “When will my refund arrive?” Understanding how the refund process works can help ease the wait and ensure there are no…
New Delhi: The average number of days it takes for taxpayers to get refunds from the Income Tax Department in India has come down drastically from 93 days in 2013 to a mere 17 days in 2024, reflecting the increased efficiency in the system on the back of rising digital infrastructure that enables faceless online…
New Delhi: All the tax payers that have filed their Income Tax Return are eligible to get refund if they have paid amount in taxes that exceeds the actual amount due. This can be either by way of TDS or TCS or Advance Tax or Self-Assessment Tax. Will You Get ITR Refund If It Is…
New Delhi: Waiting for your Income Tax Return (ITR) refund? Good news- most of the taxpayers who have submitted their income tax returns (ITR) for the fiscal year 2023-24 (assessment year 2024-25) are likely to get the refunds as soon as possible. Many individuals have filed the ITR via three forms which include ITR-1, ITR-2…