I-T

I-T dept issues refunds of Rs 4,250 cr in a week

The Central Board of Direct Taxes (CBDT) on Wednesday said that it has issued income tax refunds to over 10.2 lakh people totalling to around Rs 4,250 crore. Earlier on April 8, the government had announced that the pending income tax refunds up to Rs 5 lakh will be cleared with an immediate effect to...

Major blunder if tax assessment & payment deadlines not extended: I-T employees’ bodies

Two associations of the Income Tax (I-T) Department has warned the government that not extending the March 31 fiscal deadline will lead to a major blunder of endangering lives of taxmen. The associations have written to the Central Board of Direct Taxes (CBDT), while a body of Indian Revenue Service (IRS) officers is also pitching...