income tax

I-T department sets April 30 deadline for approving refunds: Report

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I-T department sets April 30 deadline for approving refunds: Report

If you have not received your income tax refund so far, there is good news for you. The Income Tax (I-T) Department has set April 30 as the deadline for approving pending refunds, reported Business Line The department has prepared an interim action plan for tax refunds in this fiscal and set a timeline for various actions related … Read more

CBDT to reopen cases linked to false HRA claims? Income tax body issues clarification, says ‘any apprehensions about…’

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CBDT to reopen cases linked to false HRA claims? Income tax body issues clarification, says ‘any apprehensions about…’

Rejecting media reports suggesting the large-scale reopening of cases related to incorrect house rent allowance (HRA) claims, the Central Board of Direct Taxes (CBDT) on Monday, April 8 clarified that “apprehensions about retrospective taxation on these matters and re-opening of cases are completely baseless.”  Also Read: Income Tax: Rent paid to spouse can be claimed … Read more