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Expedite IT refunds through online passbook mechanism: Ficci

Last Updated: Tuesday, June 10, 2014, 19:31

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.

Indirect tax refunds at Rs 43,409 cr in Apr-Feb

Last Updated: Tuesday, March 11, 2014, 20:06

The revenue department refunded Rs 43,409 crore in customs, excise duty and service tax refunds in April-February this fiscal, which was 27.4 percent higher than that in the same period last year, the government said Tuesday.

JPMorgan Chase plans to exit prepaid card business

Last Updated: Thursday, January 09, 2014, 23:17

JPMorgan Chase & Co plans to sell or wind down its business of issuing prepaid cards for corporate payrolls and government tax refunds and benefits, the company said on Thursday.

Rs 57,000 crore tax refunds so far this fiscal: Chidambaram

Last Updated: Wednesday, December 12, 2012, 19:54

Government has so far refunded Rs 57,000 crore tax claims this fiscal and the small income tax payers are getting preference in refunds, Finance Minister P Chidambaram said Wednesday.

Ficci seeks speedy tax refund, wants no inheritance tax

Last Updated: Monday, December 10, 2012, 17:04

In its pre-budget recommendation to the Revenue Secretary Sumit Bose, Ficci demanded improving dispute resolution mechanism and immediate implementation of Goods and Services tax (GST).

Govt starts automatic service tax refund for exporters

Last Updated: Tuesday, January 03, 2012, 19:53

Streamlining the procedure for service tax refunds for exporters, government today linked it with electronic payment system and fixed the average rate at 0.2-0.3 percent of the shipment value.

Interest on I-T refunds up 45% in last fiscal: Govt

Last Updated: Tuesday, November 29, 2011, 18:40

Interest on refunds of Income Tax went up by almost 45 percent to over Rs 9,900 crore during the last fiscal, Parliament was informed Tuesday.

Bogus tax refunds scam detected in Ludhiana

Last Updated: Saturday, November 27, 2010, 14:18

An alleged scam involving realisation of bogus income tax refund has come to light here after a man tried to deposit "fake" refund cheques to the tune of Rs 47 lakh, officials said on Saturday.