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Income Tax Refund

Income Tax Refund Status – Quick Guide

You should check out on https://tin.tin.nsdl.com/oltas/refundstatuslogin.html entering the correct PAN in capital and selecting the relevant assessment year. If it shows that “refund cheque has been encashed”/ “refund is credited to your bank account, please contact your bank” then you should verify it from your bank account on the particular date. However it does not show the refund amount. To know the refund amount, you should check out Part – D of Form – 26AS .....

I-T Dept Streamlines Tax Refund Procedure for Faster Payment

In a shift which will accelerate the pace of delivery of tax refunds, the IT (income tax) department will entertain the all tax deducted at source (TDS) credit and refund claims for the first time. The claim in such respect cannot exceed Rs. 3, 00,000 in case of TDS credit whereas the limit for refund claim is Rs. 25,000, at the phase of dispensation of the returns. The effect of such order is valid all .....

Using RTI to Get Income Tax Refund!

There are many disputes regarding this tax refund many people have complaint about the tax refunds that the income tax administration is taking many years in refunding the money. The Right to Information Act (RTI) came into effect from October 12, 2005. The right to information Act helps many citizens to obtain information, which earlier was a not available, from various Govt Departments and other association like PSUs, Indian Railways, Reserve Bank of India and so on. .....

5 Steps to Get Income Tax Refund Faster

Every person wants to get their refund faster, to get refund faster you need to follow these steps. Do tax Planning as early as possible. Assess your tax liability before the end of the financial year. So you can plan your investment accordingly. (Calcuate Income Tax) Declare your investment to your employer so that they can deduct the correct amount of tax on your salary. Mention Bank Micr code and Bank account number correctly. Check .....

How to Get Income Tax Refund?

What is a Tax refund? When the tax liability or the amount of tax to be paid is less than the amount of taxes paid by the individual. For salaried individuals, it is possible that that the company deducted excess tax because you did not declare any of your investments to the company. In such a case, a tax refund may be helpful. How do I get the tax refund? Check your Income Tax Return, .....

Which ITR is applicable for my Income?

The most of the confusion about income tax forms after Saral (Old Form) is choosing income tax form / ITR for one’s income. For example Suppose one has income from salary and interest income from banks. The form ITR1 will be used, but if having income from capital gain along with salary income then ITR2 will be used. So it is very important to learn how to choose appropriate ITRs / Income Tax Forms to .....

Review of Online Filing of Income Tax Return Portals

There are several portals now a days, which let you file your tax returns, online. Some offer professional advice, too. Reviewed three of the most popular ones. Drawback: No online chat support 1) www..taxsmile.com Packages: Taxsmile offers three packages based on whether you require professional expert help and support, to guide you through the online filling process. Service Price (in Rs)Online only Rs. 289Online expert support and review Rs.449Off-line expert support and review Rs. 750Digital .....

Check Income Tax Refund Status Onilne

Individual taxpayers can now track the status of their income tax refunds online. To check the status of their refund, taxpayers can log in at https://tin.tin.nsdl.com/oltas/refundstatuslogin.html. If there is a problem, they can contact the assessing officer or the refund banker, the State Bank of India. In case of any grievance, taxpayers can also contact the additional commissioner in charge of the range or the income tax ombudsman. This facility is not for companies and .....