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Tag: Refunds

IRS refunds will start in May for $10,200 unemployment tax break

Finance
Samuel Corum/Bloomberg via Getty ImagesThe IRS will start issuing tax refunds in May to Americans who filed their returns without claiming a new break on unemployment benefits, the federal agency said Wednesday.The American Rescue Plan waived federal tax on up to $ 10,200 of unemployment benefits, per person, received in 2020. Households with $ 150,000 or more in income are not eligible for the tax cut.President Joe Biden signed the $ 1.9 trillion relief law during tax season, on March 11.More from Personal Finance:A third of people don't know if they'll get a tax refund or owe moneyTax-refund phishing scam targets college students and staffSenate Dems propose capital gains tax at deathTaxpayers eligible for the tax break were left wondering if they should file amended tax returns to cl...
I-T refunds worth Rs 1.64 lakh crore issued to 1.41 crore taxpayers till January 4

I-T refunds worth Rs 1.64 lakh crore issued to 1.41 crore taxpayers till January 4

Finance
NEW DELHI: The Income Tax department on Wednesday said it has issued refunds worth over Rs 1.64 lakh crore to over 1.41 crore taxpayers so far this fiscal. This includes Personal income tax (PIT) refunds amounting to Rs 53,070 crore and corporate tax refunds of over Rs 1.10 lakh crore during this period. "CBDT issues refunds of over Rs. 1,64,016 crore to more than 1.41 crore taxpayers between 1st April,2020 to 04th January,2021.Income tax refunds of Rs. 53,070 crore have been issued in 1,38,85,044 cases & corporate tax refunds of Rs. 1,10,946 crore have been issued in 2,06,847cases," the Income Tax department tweeted. The Department on Tuesday had said that over 5 crore income tax returns (ITRs) for fiscal year 2019-20 have been filed till January 4. The government has extended the ITR...

Refunds given for 75% tickets of flights cancelled during lockdown: Aviation ministry

Finance
(This story originally appeared in on Dec 11, 2020)NEW DELHI: The government on Friday said airlines have refunded almost three-fourth of tickets sold for flights cancelled during the Covid lockdown. In all, Rs 3,200 crore have been refunded to passengers and the rest are being processed, the aviation ministry said. While, tickets worth Rs 219 crore have been converted into credit shells voluntarily by passengers for future travel. Nearly one-third of the refund amount has come from India’s biggest airline (by market share), IndiGo, alone. The low cost carrier had earlier this week said it has already paid Rs 1,000 crore as refunds, representing 90% of the total amount owed to its customers for cancelled flights. IndiGo says it will “complete payment against all pending credit shells (an...
I-T refunds worth Rs 1.40 lakh crore issued to 59.68 lakh taxpayers in 8 months

I-T refunds worth Rs 1.40 lakh crore issued to 59.68 lakh taxpayers in 8 months

Finance
New Delhi: The Income Tax Department has issued refunds worth over Rs 1.40 lakh crore to more than 59.68 lakh taxpayers this fiscal till December 1. This include personal income tax (PIT) refunds amounting to Rs 38,105 crore and corporate tax refunds of over Rs 1.02 lakh crore during this period. "CBDT issues refunds of over Rs 1,40,210 crore to more than 59.68 lakh taxpayers between 1st April,2020 to 01st December,2020. Income tax refunds of Rs 38,105 crore have been issued in 57,68,926 cases & corporate tax refunds of Rs 1,02,105 crore have been issued in 1,99,165 cases," the I-T Department tweeted. Let's block ads! (Why?) Personal Finance News-Wealth-Economic Times
Covid: Ryanair will not offer refunds for November flights

Covid: Ryanair will not offer refunds for November flights

Business
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