Infosys was in 2019 awarded a contract to develop the next-generation income tax filing system to reduce processing time for returns from 63 days to one day and expedite refunds.
The refunds issued in 2020-21 fiscal was 43.2 per cent higher than Rs 1.83 lakh crore issued in 2019-20 fiscal, which ended March 31, 2020.
Of this personal income tax refunds worth Rs 7,458 crore has been issued in over 14.98 lakh cases. Corporate tax refunds of Rs 17,334 crore have been issued to 43,661 taxpayers.
'CBDT issues refunds of over Rs 17,061 crore to more than 13 lakh taxpayers between 1st April, 2021 to 10th May, 2021,' the department tweeted.
Of this personal income tax refunds worth Rs 5,047 crore has been issued in over 11.51 lakh cases. Corporate tax refunds of Rs 10,392 crore have been issued to 21,487 taxpayers.
As per norms, deduction should be made at 1.5 per cent of the amount paid for any work as per the agrement with the private hospitals and at 7.5 per cent for rent paid for use of land or building.
The I-T Department had filed three criminal revision petitions before the High Court against three separate orders passed by the Special Court to try criminal cases against MPs/MLAs, in the city.
The I-T Department claimed to have detected tax evasion of about Rs 700 crore after it raided two real estate developers based in Hyderabad recently.
While the officials could not find anything in Muruganandham and Thangapandi’s residences, bundles of cash were recovered from Alagarsami’s residence.
These included the Samalkha MLA’s flat at Sector 2 in Chandigarh, his residence, a petrol pump at Sai Enclave and a showroom in the grain market at Samalkha besides some properties in Gurugram.
According to a statement from Central Board of Direct Taxes, the searches were carried out at 27 premises in Chennai, Mumbai, Coimbatore, Madurai, Trichy, Thrissur, Nellore, Jaipur and Indore.
The inspection was carried on a leading Chennai-based tiles and sanitary ware unit
The colleges had also diverted the cash collected for non-charitable purposes by the trustees.
The searches began at around 18 locations in Betul and Satna in BJP-ruled MP, Mumbai and Solapur in Maharashtra and TMC-ruled West Bengal’s capital Kolkata.
A release by the department through PIB says that so far, the evidence gathered indicates that the money has been accepted as illegal capitation fees by manipulating the online admission process.