FY 2023-24 News
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.
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).
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.
The central government has revised the performance-linked incentive scheme for whole-time directors and senior executives of public sector banks.
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.
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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