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FY 2023-24 News

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The government-owned NBFC’s loan sanctions for the fourth quarter recorded a 27 per cent rise to Rs 47,453 crore while loan disbursements for the quarter rose 20 per cent to Rs 30,168 crore. 
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The increase in  Contribution to the Central Exchequer (CCE) is mainly due to an increase in Corporation tax from Rs 0.56 lakh crore in (FY 2022-23) to Rs 0.81 lakh crore in (FY 2023- 24).
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Income Tax Return Filing Deadline: The extension has been granted to taxpayers falling under clause (aa) of Explanation 2 to sub-section (1) of Section 139, pushing the deadline to 15th December 2024.   
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The central government has revised the performance-linked incentive scheme for whole-time directors and senior executives of public sector banks.
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To process an Income Tax Return (ITR) refund, e-verification of the return is essential. The refund is typically transferred to the taxpayer's account within four to five weeks after the ITR is e-verified. 
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Individual taxpayers not requiring audits must file ITRs for FY 2023-24 by July 31, 2024, to avoid penalties. Belated returns can be filed by December 31, 2024.






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