Filed ITR before deadline? Your refund can still be delayed if…
The deadline to file the income tax return (ITR) for AY 2024-25 was July 31, 2024. However, filing your ITR before the deadline does not guarantee that you will receive your refund on time. Key Points
India TodayCRCS-Sahara refund Portal: Link to claim refund, who is eligible, how to claim
Shah assured the depositors that no one can stop their money now and that they will get the refund in 45 days after registering on the portal. Here is a look at important FAQs issued by the Ministry of Cooperation on the CRCS-Sahara refund Portal. Key Points
Economic TimesCRCS-Sahara refund Portal to help crores of Sahara depositors get refund, says Amit Shah
On March 29, the government had said money will be returned to 10 crore investors of the four cooperative societies within 9 months. The announcement followed a Supreme Court order directing transfer of Rs 5,000 crore from Sahara-Sebi refund account to the Central Registrar of Cooperative Societies (CRCS). Key Points
Economic TimesNot got your income tax refund yet? Here's how you can raise a re-issue request
You have to make sure your bank account is pre-validated on the new income tax portal and PAN is linked to receive the income tax refund. Now, if for some reason you have not received the income tax refund amount, then you can raise a refund reissue request. Here is a step by step guide to do the same. Key Points
Economic TimesThe Day Before: See how to get refund for the troubled game
The Day Before, a highly criticized game released at the Game Awards 2023, faced a swift removal from Steam, prompting its studio's closure. Players seeking refunds can follow a simple process on Steam. Key Points
Economic Times
Pending income tax refunds relating to AY 2021-22 would be processed by this date; check email for confirm
Income tax refund: The Central Board of Direct Taxes (CBDT) has said that individuals who are still waiting to get their tax refund for FY 2020-21 (AY 2021-22) may get it by April 30, 2024. If you are eligible for receiving this tax refund a email from the tax department would come intimating the amount of refund. Check your inbox now. Key Points
Economic TimesBombay High Court asks I-T dept to refund Rs 1,128 crore to Vodafone Idea within 30 days
Vodafone Idea tax refund case: The Bombay High Court said that the income tax department failed to follow procedure and directed the tax authorities to refund Vodafone Idea Rs 1,128 crore. The court sought action against the assessing officer for causing loss to the exchequer. The court directed the process to be completed in 30 days. Key Points
Economic TimesIRCTC refund rules: How can you get refund for confirmed railway tickets after chart preparation?
According to Indian Railway Catering and Tourism Corporation (IRCTC): E-ticket cannot be cancelled after chart preparation. Users are requested to use the online TDR filing for such cases and track status of the refund case through tracking service provided by IRCTC. TDR can be filed as per Railway rules. Know here how to file a TDR. Key Points
Economic TimesCAG asks Finance Ministry to put in place online Customs refund system
Under the Customs Act, refunds can be claimed in cases where the imported goods are found to be defective or not in conformity with the specification agreed upon, when the goods are exported after payment of the export duty/cess and the exported goods are returned to the exporter. A refund can also be claimed by a person who has paid duty on assessment of imported goods and applies for refund of duty consequent on remission /abatement of duty due to pilferage/damage of goods. Key Points
Economic TimesCredit card rule change: How will refund or failed transaction be adjusted against your credit card bill?
Credit card rule change: The Reserve Bank of India (RBI) amended the Master Direction - Credit Card and Debit Card – Issuance and Conduct Directions, 2022 on March 07, 2024. What has changed regarding credit card refunds and credit card bill payments? ET Wealth Online breaks it down for credit card users. Key Points
Economic Times
Stocks in news: Paytm, Sula Vineyards, ZEE, Omaxe, SpiceJet
Zee Entertainment has alleged that Star India has not acted in accordance with the agreement between them over the sharing of the TV broadcast rights of ICC cricket matches and has sought a refund of Rs 68.54 crore from the Walt Disney-owned firm. Key Points
Economic TimesSubrata Roy dies: How will it impact claim process on Sahara refund Portal
The news of Subrata Roy's death puts the spotlight on investors who are yet to claim their invested money in four cooperative societies of the Sahara Group. Here's what happens. Key Points
India TodayExporters seek amnesty scheme on IGST refund issues
The PHD Chamber of Commerce and Industry has written to the Central Board of Indirect Taxes and Customs calling for a one-off amnesty scheme to resolve issues that arose from a new provision in India's goods and services tax rules. The provision was designed to protect government revenue from exporters making refunds under integrated GST through irrelevant products. These products had allowed suppliers to claim higher tax credits, so the rule was introduced to combat the issue. Key Points
Economic TimesSahara refund Portal: Documents needed, other rules to know to apply for refund
The CRCS Sahara refund Portal is an online portal created to process refunds of depositors of four Sahara Group Co-operative Societies. Here are important FAQs to know, according to the Sahara refund portal. Key Points
Economic TimesSahara refund: How much money will Sahara depositors get as first payment?
Sahara refund Portal has been launched for submission of claims by genuine depositors of Cooperative Societies of Sahara Group. The refund process of Rs. 5,000 crore to investors has already begin. Key Points
Economic Times
Ease of I-T refunds, taxpayers saw reduced time, simplified process: survey
The survey further reveals that not only has the refund timing been reduced, individual taxpayers have also reported simplification of the refund process with 90% of taxpayers getting automatic refunds. Also 75% of the individual taxpayers did not have to pay extra tax beyond the tax deducted at source (TDS). Key Points
Economic TimesFirst installment of Rs 10,000 each transferred to 112 Sahara beneficiaries, says Amit Shah
'Today, the first instalment of Rs 10,000 each has been transferred to 112 beneficiaries. Till now, 18 lakh people have registered on the portal,' said Shah. Key Points
FirstpostGo First Flights Cancelled: Can I reschedule or transfer tickets, What's the refund process? Here are all
On its website, the airline said, “We regret to inform that due to operational reasons, Go First flights scheduled for 3rd, 4th and 5th May 2023 have been cancelled. We apologize for the inconvenience caused by the flight cancellations.” Go First blamed Pratt & Whitney engines for the grounding of about half its fleet. Key Points
Economic TimesUGC recovers Rs 30 crore from varsities for fee refunds after admission cancellation in academic session 2022-23
"Many students come from backgrounds that are less stable economically. They should be free to enrol in a better university, but unless they receive a refund from the institution they previously enrolled in, they might not have the financial resources to do so," Kumar added. Key Points
FinancialexpressPKH Ventures cancels IPO: here's how the refund process works
PKH Ventures Ltd has withdrawn its IPO due to lack of subscriptions from qualified institutional buyers (QIBs). Investors will receive a full refund of the amount blocked. Key Points
mint
Rs 1.12 lakh crore stuck: When will investors of Sahara para banking, Sahara Real Estate, Sahara Housing I
Sahara refund Portal: More than Rs 1.12 lakh crore funds of around 13 crore investors are stuck in several Sahara India group companies, Union Minister of State for Finance Pankaj Chaudhary informed the Parliament earlier. With the Centre launching a refund portal for depositors of Sahara Group co-operative society, other investors are eagerly waiting to know when they will get their money back. Let's find out Key Points
Economic TimesLIC gets tax refund of Rs 21,741 crore from Income Tax department
Last month, the Income Tax Appellate Tribunal (ITAT), Income Tax Department, issued intimation for a refund of Rs 25,464.46 crore. The refund is related to interim bonuses to policyholders in the past seven assessment years. Key Points
Business Today'Deliberately indifferent': Consumer panel order to Byju’s to refund 'dissatisfied' customer Rs 65k
Hooghly Consumer Disputes Redressal Commission also ordered firm to pay student's father Rs 5k for causing mental agony. Order issued ex-parte as Byju’s only submitted written response. Key Points
ThePrintWait for unprocessed income tax refund to get longer; deadline extended by 3 months
Income tax refund: Individuals who have pending income tax refund due to the fact that their income tax return (ITR) was not processed by the income tax department would now get their income tax refund by April 30, 2024. However not all individuals would get tax refund, read here to know who gets and who does not. Key Points
Economic TimesUsing a credit card? From usage beyond limit to overlimit fees - top queries answered based on RBI’s new FAQs
Financial Literacy News: Credit cards offer a convenient means to manage finances and enhance financial well-being. By using credit cards responsibly, individuals can build a positive credit history and improve their financial habits. Key Points
Times Of India
11 years ago, D in my PAN turned 0. I'm still fighting lakhs in tax bill
Read about the author's decade-long battle with the income tax department due to a typo in their PAN card. Learn how they navigated the challenges and sought refunds for the tax deducted at source. Key Points
Times Of India'Ground staff denied everything': Passenger shares harrowing experience on diverted flight
Passengers of a Mumbai-Ranchi flight had a harrowing experience when the flight was diverted to Kolkata due to bad weather. The airline staff refused to make arrangements for them despite promising it onboard. IndiGo, however, said it provided meals and offered a refund or alternate flight. Passengers, including pregnant women and elderly people, were left to make their own arrangements at a third location. Key Points
Economic TimesConsider giving refunds to exporters in cash for tax remission schemes: GTRI to govt
The government is considering giving cash refunds to exporters instead of scrips for tax remission schemes, according to economic think tank GTRI. This move would improve cash flow for exporters, especially those facing a weak export outlook for 2024. Currently, refunds under the RoDTEP and RoSCTL schemes are issued as scrips, which can be sold to other importers. However, small exporters often receive less than the announced incentive due to discounted scrip sales. Key Points
Economic TimesMan finds live snail in salad he ordered from Swiggy, company responds
A video shared on X shows a bowl filled with salad and a tiny snail sitting on top. The video has left people disgusted. | Trending Key Points
Hindustan Times'Totally impressed': Actor R Madhavan praises income tax department
Actor R. Madhavan praised the Income Tax department on social media for the swift refund of his company's income tax within three weeks of filing for AY 2023-24. Impressed by the efficiency and transparency, he tagged Finance Minister Nirmala Sitharaman and the Prime Minister's Office. Some users agreed with Madhavan's positive experience, while others mentioned delays in receiving refunds, prompting a CA to advise checking for pending notices or information online. Key Points
Economic Times
7 latest highly deceptive online scams; how to identify them and protect your money
Online scam and how to protect yourself: If you are not aware of their latest methods and tricks, you can easily fall into their trap, resulting in loss of time, money and personal information. ET Wealth Online explains a few types of scams that have been on the rise and the ways to protect yourself from them. Key Points
Economic TimesDGCA asks Go First to refund passengers; airline may have to pay Rs 350 crore for flights cancelled till M
Go First has cancelled flights till May 9 and the refund amount is likely around Rs 350 crore. The Wadia family-owned low-cost airline on Tuesday filed for voluntary insolvency proceedings before the Mumbai bench of the National Company Law Tribunal (NCLT), attributing the decision to protracted delays in sourcing airworthy engines from PW. Key Points
Economic TimesMaharashtra: Fraudsters dupe man trying to get refund of Rs 4.8 lakh for cancelled air tickets
The Chitalsar police have registered a case under the IT Act on the basis of the man’s complaint. A probe is on, said an official, adding that no arrest has been made yet. Key Points
Firstpost