Diabytes
IT refunds News
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The Central Board of Direct Taxes (CBDT) frames policy for the Income Tax Department.
The CBDT issued refunds of over Rs 92,961 crore to more than 63.23 lakh taxpayers from 1st April, 2021 to 18th October, 2021.
This includes 32.49 lakh refunds of AY 2021-22 amounting to Rs 2498.18 crore.
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The NCLAT was hearing RCom's plea, which has approached the appellate tribunal seeking waiver over the moratorium placed by it on February 4.
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Life Insurance Corporation (LIC) has received more than Rs 11,500 crore in income tax refunds and a big chunk of the amount would be passed on to policyholders, an official said.
Industry body Ficci has asked Finance Minister Arun Jaitley to expedite IT refunds by making the process taxpayer-friendly through issuance of an online passbook linked with the permanent account number (PAN) in which refunds are credited as dues for each financial year.
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