Income Tax Return: CBDT Issues Rs 1.54 Lakh Crore Refunds To Taxpayers | Here’s How to Check I-T Refund Status Online

 


Income Tax Return: CBDT issues refunds of over Rs 1,54,302 crore to more than 1.59 crore taxpayers from 1st Apr 2021 to 10th January 2022, the I-T department said in a notification.

Income Tax Return Latest News: In a fresh notification, the Income Tax Department on Thursday said it has issued refunds of over Rs 1.54 lakh crore to more than 1.59 crore taxpayers so far this fiscal. Notably, the I-T refund includes 1.20 crore refunds of Assessment Year 2021-22 (fiscal ended March 31, 2021), amounting to Rs 23,406.28 crore.

“CBDT issues refunds of over Rs 1,54,302 crore to more than 1.59 crore taxpayers from 1st Apr 2021 to 10th January 2022,” the I-T department said in a notification

This includes personal income tax refunds of Rs 53,689 crore to over 1.56 crore entities and corporate tax refunds of over Rs 1 lakh crore to more than 2.21 lakh businesses.

It must be noted that around 58.9 million income tax returns (ITRs) were filed on the new tax filing portal of the Income Tax Department as of 31 December, the extended due date for filing returns for the assessment year 2021-22, the I-T department said.

The taxpayers must note that more than 4.6 million ITRs were filed on the due date itself. In a statement, the I-T department said that its help desk attended to 16,850 taxpayer calls and 1,467 chats for a smooth customer experience.

n the meantime, the deadline for filing tax returns for the 2020-21 fiscal ended March 31, 2021, by individual taxpayers ended on December 31, 2021. For corporate taxpayers, the last date is March 15, 2022.

How to track status of income tax refund

The taxpayers can check the income tax refund in two ways:

  • The new income tax portal or
  • The NSDL website

How to check I-T refund status on the new income tax portal

  • First, you need to visit www.incometax.gov.in and log in to your account by entering PAN as user ID, and your password.
  • After logging in, click on ‘e-file’ option.
  • Under the ‘e-file’ option, select ‘Income tax returns’ and then select ‘View Filed returns’.
  • Check the latest ITR filed.
  • For FY 2020-21, the latest ITR filed (presuming you have already filed it) will be for AY 2021-22. Select ‘View Details’ option.
  • Once selected, it will show the status of ITR filed. It will also show you the date of issue of tax refund, the amount refunded and date of clearance for any refund due for this AY.

How to check I-T refund status on TIN NSDL website:

  • First visit: https://tin.tin.nsdl.com/oltas/refundstatuslogin.html
  • Enter your PAN details
  • Select the relevant assessment year for which you want to check the refund status. For FY 2020-21, the assessment year will be 2021-22.
  • Enter the captcha code and click on submit. Depending on the status of your refund, a message will be displayed on your screen.

Comments

Post a Comment

Popular posts from this blog

Senior Citizen Train Ticket Discount: Government has issued a new statement regarding giving discount to senior citizens on train tickets, know the details here

Image
  Senior Citizen Train Ticket Discount: Once again a demand has been made in the Lok Sabha to give discount to senior citizens on train tickets. Senior Citizen Train Ticket Discount:  Railways has withdrawn the discount given to senior citizens on train tickets since the Corona period. However, from time to time there has been a demand to restore this concession given to senior citizens in trains. Even in the winter session of the Lok Sabha, some members raised the demand for increasing fare concessions and facilities for senior citizens traveling in trains. However, even before this, Railway Minister Ashwini Vaishnav has told in the Lok Sabha that during the train journey, every passenger is given an average subsidy of 53 percent on the train ticket. Apart from this, he also told who gets discount on tickets while traveling by train. Demand for discount in train tickets raised again During Zero Hour in the House, Janata Dal (United) MP Kaushalendra Kumar said that before the Corona ep
Read more

Cash Transaction Rules: Income tax rules on cash transaction between Husband-Wife and Son-Father, know rules

Image
  Cash Transaction Rules: Income tax keeps an eye on our every transaction. But is there any tax on cash transactions or can Income Tax send a notice? Or how much cash transaction can take place between you and your wife or between father and son? If you also have these questions in your mind, then let us know their answers… If you also transact money between father and son or between husband and wife, then this news is useful for you. Actually, every transaction of ours has an eye on income. In such a situation, a question arises in the minds of many people whether income tax notice can be received even on cash transactions? Let us know how much cash transaction you can do in your family. Income tax sends notice? According to tax experts, if you give money every month for household expenses or give money as a gift, then the wife is not liable for income tax. Both these types of amounts will be considered as the income of the husband. The wife will not receive any notice from the Incom
Read more

Have a Current/Savings Bank Account? Know the Cash Deposit Limits under Income Tax Act to avoid Penalties and Notices

Image
  Adhering to cash deposit and withdrawal limits is crucial to remain compliant with the Income Tax Act in India. This article aims to elucidate the various facets of cash-related regulations, encompassing savings and current accounts, fixed deposits, credit card bill payments, real estate transactions, and more.  Cash Deposit Limits in Savings and Current Accounts The Indian Income Tax Act imposes specific regulations on significant cash deposits in savings accounts. Individuals accumulating INR 10 lakh or more during a fiscal year must notify tax authorities.  For current accounts, this threshold is set higher at INR 50 lakh. Although not immediately taxed, financial institutions report transactions exceeding these limits.  Cash Withdrawal and TDS under Section 194N  Section 194N outlines TDS rules for cash withdrawals. A 2% TDS is levied on withdrawals exceeding INR 1 crore within a fiscal year. Non-filers face a 2% TDS on withdrawals over INR 20 lakh and a 5% TDS on amounts exceedi
Read more