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In India, there is a provision of refund of excess tax along with interest. For claiming a refund one has to file the income tax return within a specified period. However, under Sections 237 and 119(2)(b) of the Income Tax Act, the Chief Commissioner or Commissioner of Income Tax are empowered to condone a delay in the claim of a refund. [15]
The Income Tax Department is the central government's largest revenue generator; total tax revenue increased from ₹ 1,392.26 billion (US$16 billion) in 1997–98 to ₹ 5,889.09 billion (US$69 billion) in 2007–08. [3] [4] In 2018–19, direct tax collections reported by the CBDT were about ₹ 11.17 lakh crore (₹11.17 trillion). [5]
The Income Tax Act, 1961, and the Income Tax Rules, 1962, require citizens to file their tax returns with the Income Tax Department at the end of every financial year and this form is a part of the filing process as specified by the Government of India. The due date for filing return with the Income Tax Department of India is 31 July every year.
0% (free zone companies, [230] as well as mainland companies with less than 375,000 AED a year in profit, [231] may need to fill out a tax return) 9% (for mainland companies with a net profit over AED 375,000 annually, taxation paid to other countries credited towards UAE taxation, tax return required) [231] 0% [232] 5% [232] 0% [233]
What H&R Block offers. H&R Block combines online software with in-person support at more than 12,000 physical locations across the U.S. and around the world. H&R Block offers a free DIY tax return ...
Levon L. Galstyan, certified public accountant at Oak View Law Group, explains that if you received money during 2021 due to one of these tax breaks, you’re probably seeing a lighter refund this ...