The Asian Connections Newspaper</center>

<!-- Google Adsense-->
<script type=
* Forcing Pride on Catholic schools isn't diversity    * G7 Summit 2024 Live Updates: PM Modi, Meloni hold bilateral talks, discuss defence & security cooperation     * At G7 Summit, PM Modi's First Face-To-Face Meeting With Trudeau Amid Khalistan Row      * New book looks at what happened in the White House Situation Room as Jan. 6 riots unfolded     * These cities are now so expensive they’re considered ‘impossibly unaffordable’

India hold Rs.1.2L cr I-T refunds

Posted in S. Asia

Tagged:

Published on March 13, 2015 with No Comments

Income tax refunds to the tune of over Rs 1.2 lakh crore are pending for the last three fiscals, starting 201213, India’s minister of state for finance Jayant Sinha said in a written reply in the Rajya Sabha.The pending amount for current fiscal so far is Rs 68,032 crore; Rs 43,963.4 crore in 2013-14 and Rs 7,968.5 crore in 2012-13.Processing, determination, issuance and encashment of income-tax refund claims is a continuous process and therefore a part of the outstanding refunds would in the normal course also get postponed to next year, Sinha said.In reply to a separate question, Sinha said government is committed towards engendering a non-adversarial tax regime.

 

No Comments

Comments for India hold Rs.1.2L cr I-T refunds are now closed.