REFUND CLAIMS
How to claim income tax refund online when filing ITR for FY 2023-24
How to claim income tax refund online: You may be eligible for a tax refund if you have paid more taxes than you owe. You can claim the refund when filing your income tax return (ITR) by the deadline of July 31, 2024 for FY 2023-24 (AY 2024-25).
The scam that wasn't? Groww issues 6-point clarification on failed mutual fund investment
Groww platform safeguards investments, ensures transparency in transactions, and advises customers to verify holdings with CAMS, Kfintech, or MFCentral for comprehensive oversight, debunking misinformation and ensuring financial security.
Groww offers user refund after allegations of fund deduction without investment emerge
A Groww user alleged that the platform deducted money without making an investment, prompting Groww to issue a refund and clarification. The company acknowledged an error in the user's dashboard and confirmed no transaction took place. They credited the claimed amount back to the user as a goodwill gesture and requested his bank statement for verification. Groww assured users of its commitment to resolving such issues promptly and transparently, emphasizing no money was deducted. An expert advised careful research before using newer investment platforms.
EPF account withdrawal rule changed: EPFO discontinues Covid-19 advance facility
During the Covid-19 pandemic, a non-refundable advance was provided to the EPF members during the outbreak of first wave of Covid-19 and another advance was also allowed in view of second wave
Motor insurance rule change: No arbitrary claim rejection, quicker claim settlement, pay as you drive option must, says IRDAI
Motor Insurance New Rules by IRDAI: The Insurance Regulatory and Development Authority of India (IRDAI) has updated the master circular clarifying important rules for motor insurance policyholders. The regulator has proposed the implementation of strict timelines for claim settlements of auto insurance policyholders. It is a crucial step towards improving efficiency and customer satisfaction. Another key change is the introduction of a customer information sheet (CIS) for auto insurance policies to enhance customer awareness.
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All insurers must offer basic cover, meet settlement deadlines: IRDAI
IRDAI announced customer-centric measures, requiring general insurance companies to offer basic insurance products with clear coverage details on their websites for easy comparison and customization.
General insurance companies can't reject claims for want of documents: Irdai
Irdai stated that general insurance companies cannot reject claims for lack of documents, introducing reforms in the business with a new master circular, repealing 13 others.
Paying rent in cash without a rent receipt? Know why your HRA claim may be rejected, and you may get an income tax notice
House rent allowance: Tenants will get into trouble with the income tax department if they are paying rent in cash and the landlord does not offer it for income tax. For every claim of HRA there should be a corresponding income offerred for tax. Read here to know how a tenant got into trouble because of this.
Unclaimed shares moved to IEPF, a govt fund? Here's a step-by-step guide on how to get back shares
Unclaimed shares: If you have found that your shares have been transferred to Investor Education and Protection Fund (IEPF) then do not worry. You can get these shares back from the IEPF Authority by filling up the online IEPF-5 e-form. However before filing up thise-form you need to know certain important aspects like entitlement letter. Read here to know more.
Cashless claims to be cleared in 3 hours
Irdai has also mandated the insurer to decide on the cashless authorisation within one hour of receipt of the request.
Health insurance premiums can be reduced if you don’t make a claim, policy cancellations to be less costly and more: 5 rule changes
Health insurance rule changes: To make health insurance policy more inclusive, flexible and customer-friendly, IRDAI has recently released a master circular on health insurance business. The regulator introduces new measures regarding cancellation charges, standardising no-claim bonus, and increasing claim settlement transparency. ET Wealth Online explores how these regulations empower policyholders and improve their health insurance experience.
SpiceJet says Sun Group's claims of damages are unfounded
SpiceJet and Ajay Singh refuted Kalanithi Maran and KAL Airways' Rs 1,323 crore damages claim as legally untenable. Maran plans to challenge a Delhi High Court order favoring SpiceJet. This ownership dispute dates to 2015. Following the claim, SpiceJet's shares dropped 1.24%. The court had overturned an earlier ruling favoring Maran.
SpiceJet refutes KAL, Maran's Rs 1,323 cr damages claim, terms it 'legally untenable'
SpiceJet refuted the Rs 1,323 crore damages sought by Kalanithi Maran and KAL Airways as legally untenable. Maran and KAL plan to challenge a Delhi High Court order that remanded the dispute, involving a Rs 579 crore refund, for reconsideration. The Delhi high court had overturned a previous ruling favoring Maran.
Kalanithi Maran to seek Rs 1,323 crore in damages from SpiceJet
According to the Sun group, as part of a share transfer agreement signed in 2015 when Ajay Singh took over SpiceJet, Maran and KAL Airways had paid SpiceJet Rs 679 crore for issuing warrants and preference shares. However, Maran alleged that the warrants and preference shares were not allotted, and initiated arbitration proceedings against SpiceJet and Singh.
Reliance to transfer unclaimed shares to govt fund by this date: Check if yours are in RIL's list
Reliance Industries shares: You RIL shares will be transferred to Invester Education Protection Fund (IEPF) if you do not claim them by a date as specified by Relaince Industries through its public notice dated May 24, 2024. Read here to know how to claim, who has to claim and which form to fill if such shares needs to be claimed.
SpiceJet and Sun Group in fresh war of words over shareholders dispute
The Delhi High Court had set aside its earlier order upholding the arbitral award in favour of Kalanithi Maran and against low-cost airline SpiceJet, bringing in relief for the cash-strapped carrier.
Health insurance claim rejection: Widow fights, wins Rs 28 lakh damage; pre-existing disease can't be free pass for claim denial
The Delhi State Consumer Commission ruled that an insurer cannot reject a health insurance claim solely based on pre-existing diseases if they weren't the cause of death. The commission directed HDFC Life (previously known as HDFC Standard LIC Co. Ltd.) to pay Rs 19.4 lakh along with the interest to a woman whose husband's claim was rejected for not disclosing diabetes. The insurer also has to pay Rs 1,00,000 for mental harassment of the complainant along with the litigation cost. This is a relief for those with common lifestyle diseases like diabetes. Read the full case and verdict in details. What do you need to keep in mind while buying health insurance policy to avoid claim rejection later. Find out here.
Swiggy told to pay Rs 1,000 for failing to refund Rs 104, court says mental harassment
Swiggy court-directed to compensate consumer for mental harassment due to a cancelled order, refund remaining amount with interest, and pay compensation. Bengaluru court also ordered Swiggy to refund Rs 5,000 for undelivered ice cream.
Air India Express flight delay: Airline announces WhatsApp number for getting full refund. Here are details
Air India Express announced the cancellation of 85 flights and the termination of 30 crew members. Passengers affected by flight cancellations or delays exceeding three hours have the option to receive a full refund or reschedule their travel without incurring any fees. The official statement from Air India Express provided contact information for assistance via WhatsApp or their website.
Paris, Milan become the new favourite shopping destinations for travellers after London's 'Tourist Tax'
After Brexit, the UK discontinued tax-free shopping incentives, leading thousands of tourists to redirect their shopping to Paris, Milan, and Madrid. Despite lobbying efforts, the UK remains steadfast in its decision. The shift has resulted in increased spending per person, particularly in France and Italy. While some argue the policy negatively impacts tourism, the UK government asserts it benefits public finances.
Air India Express cancels more than 80 flights after crew members 'fall sick at last moment'
Air India Express has cancelled more than 80 flights due to a mass 'sick leave' by its senior crew member, leading to flight delays and cancellations. Civil Aviation authorities are investigating the issue, while the airline is working to minimise inconvenience to passengers and offering refunds or rescheduling options. Passengers are advised to check the status of their flights before heading to the airport.
MCA mulls faster transfer of old unclaimed shares to beneficiaries
The corporate affairs ministry is considering a faster method for transferring shares, dividends, and matured debentures in inactive accounts that have not been claimed for over seven years. The ministry plans to allow companies to settle claims after following due processes and obtaining IEPFA approval. The authority will transfer unclaimed papers to companies for refunds within 15 days.
RRB issues exam-fee refund link for candidates to update bank details, says this is last opportunity
RRB initiated refund for 2019 exam fees. Candidates with incorrect bank details can update for a final chance. Use direct link provided before May 5, 2024. Incomplete/incorrect claims will be rejected.
Steam alert for gamers: No refunds if one plays video game for 2 hours during 'Early Access' period
In a wake up call for gamers, Steam has decided to stop issuing refunds if one plays a game for two hours during the 'Early Access' period.
Does choosing old tax regime for TDS on salary lead to smoother ITR processing, income tax refund claims?
Income tax regime, ITR processing: The income tax laws allow switching of tax regime from old to new or vice-versa at the time of filing income tax return. Any tax regime can be chosen irrespective of what was chosen for tax to be deducted from salary by employer. However, does switching of tax regime impact how your income tax return is processed by tax department.
12 students benefit as Karnataka GST dept opens door to National Law School students for internship
Twelve students from the National Law School of India University completed their 40-day internship at the Commercial Taxes department as part of an MoU.
Wait for unprocessed income tax refund to get longer; deadline extended by 3 months
Income tax refund: Individuals who have pending income tax refund due to the fact that their income tax return (ITR) was not processed by the income tax department would now get their income tax refund by April 30, 2024. However not all individuals would get tax refund, read here to know who gets and who does not.
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