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26% of ITRs are yet to be processed, is yours among them? Find out why

The 20 days it took for the IT department to process more than 70% of ITRs is however, much more than the 11 days it took in 2023

The Income Tax Department processed 73.71% of all verified income tax returns (ITRs) as of August 22, 2024 (Pexels)
Published on Aug 23, 2024 02:39 PM IST

ITR 2024: Waiting for income tax refund? Tax refund rules to know about

Income tax refund becomes applicable when taxes paid exceed the tax liability, which includes TDS, TCS, as well as advance tax and self-assessment tax

Over 7.28 crore income tax returns filed for the financial year 2023-24. (Pexels)
Published on Aug 05, 2024 05:05 PM IST

Tax defaults in India rise by 1000% in last 10 years, litigations double: Report

Corporate taxes formed a large bulk of the defaults, adding up to ₹3.97 lakh crore and capital gains tax and transfer pricing defaults was ₹4.81 lakh crore.

Tax defaults in India skyrocketed by 1000% in the last ten years and associated litigation has also consequently risen (Representational Image/Pixabay)
Published on Aug 04, 2024 07:56 PM IST

Infosys gets 3,898 crore partial GST tax relief for FY 2017-18 alone

Infosys had received a tax notice of ₹32,403 crore for unpaid IGST under the reverse charge mechanism for services from its overseas branches from 2017-22

Infosys Ltd has been given a tax relief of <span class='webrupee'>₹</span>3,898 crore for the financial year 2017-18 (Reuters)
Published on Aug 04, 2024 02:17 PM IST

HC directs Punjab to refund octroi levied on army’s electricity bill

Octroi amounting to ₹4.57 lakh was levied by PSEB on sale of electricity to cantonment areas between 2000 and 2007

HC directs Punjab to refund octroi levied on army’s electricity bill
Updated on Aug 02, 2024 07:46 AM IST
By, Chandigarh
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