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RECOVERY AND REFUND DEPARTMENT
Operation Octopus: Trapping the tentacles of India’s cyber fraud networkAmidst the alarming increase in cyber scams, the Hyderabad Police have initiated Operation Octopus, a mission aimed at dismantling the enti...- US companies, shamed by Trump, tiptoe into $166 billion tariff refund raceAfter a landmark Supreme Court ruling, U.S. businesses are strategically striving to salvage billions in refunds from now-invalid tariffs. ...
- Good news for taxpayers! Faster tax refunds, quicker dispute resolution, TDS framework improvements and more planned by CBDT for 2026-27Taxpayers can anticipate significant improvements in the TDS system and faster resolution of tax disputes. The Central Board of Direct Taxe...
- US employers defy economic shock from Iran war and add a surprisingly strong 115,000 jobs in AprilAverage hourly earnings rose 0.2% from March and 3.6% from April 2025, consistent with the Federal Reserve's 2% inflation target.
- Why did Spirit Airlines fail? Is this the first economic shock of the Iran war— or a missed bailout moment under Trump? The true cost of flying cheap in AmericaWhy did Spirit Airlines fail? First major casualty of the 2026 Iran war fuel shock. The collapse of Spirit Airlines today, May 2, 2026, isn...
- Spirit Airlines shuts down after 34 years; cancels all flights with immediate effect as fuel price surge hits operationsSpirit Airlines has ceased all operations with immediate effect, canceling flights and advising passengers to avoid airports. The decision ...
- Hyderabad cops want RBI to plug gaps that facilitate cybercrimeHyderabad Police's crackdown on cyber fraud, revealing systemic banking gaps and Rs 400 crore annual losses, has prompted a high-level meet...
- LATAM suspends Lima-Havana flights from March 2026; details on cancellations, refunds, and alternativesLATAM Airlines will stop flying between Lima and Havana starting March 11, 2026. This route had resumed in October 2023 after a pandemic br...
- Can you claim income tax refund for previous years even after revised ITR deadline is over? Difficult but possibleclaim income tax refund: An individual can claim income tax refund while filing their income tax return. However, it may happen that the ta...
- Central govt employees' pension: NPS to OPS switch? Centre releases new FAQ answering all your queriesNPS vs OPS: The Centre allowed central government employees to switch from NPS to CCS (Pension) Rules, 1972 (now 2021), known as the old pe...
- Six income tax notices a salaried individual can getAn income tax notice is an official communication from the income tax department. It is not a cause of worry if an individual reads the not...
- UP has highest number of active registered businesses paying nil GSTThis is followed by Bihar with 1.10 lakh registered taxpayers and 1.05 lakh taxpayers from Maharashtra.
- Sebi cautions public against fraudulent messages on money refund"Sebi hereby cautions the public against such false claims of refund and cautions them against parting with any documents / money on such c...
- Sebi cautions public against fraudulent messages on money refundThe regulator said that it does not seek processing fees or money in any form in cases where money is to be refunded as per court order.
- 3 Income Tax employees siphoned off crores through fictitious TDS refunds; CBI probesCBI has named three I-T officials- Abhay Kant, Saurabh Singh and Rohit Kumar- in connection with the case along with nine beneficiaries of ...
- Corporate lenders vs taxman: Round one of bankruptcy bout goes to the lendersThe ruling will also set a precedent for several other IBC cases, say industry trackers. Often, the corporate lenders and the tax departmen...
- RBI withdraws 3 circulars on excess pension recovery after discovering anomalies"It has been brought to the notice of RBI that the recovery of excess/wrong pension payments from the pensioners are being made in a manner...
- CBDT says it's mails to 1.72 lakh assesses to settle refund against outstanding tax cannot be misconstrued as harassmentSince April 8, the CBDT has been fast-tracking refund payments to help taxpayers in the COVID-19 pandemic situation and has till date issue...
- Refunds to be withheld only in doubtful scrutiny cases: CBDTIn order to address the concerns of assessees in genuine cases, the Finance Bill 2017 has relaxed the norms for refunds for scrutiny cases.
- Digitisation of IT returns; two dedicated units to be set upDigitisation would allow the income tax department to match data from different sources, such as tax deducted at source, and facilitate exp...
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