by Audit Analyst | Jan 3, 2026 | Income Tax
Filing of Income Tax Return The refund process begins when a taxpayer files their Income Tax Return (ITR) and declares that excess tax has been paid. The return must include accurate details of income, deductions, and taxes paid like TDS, advance tax, or...
by Audit Analyst | Jan 3, 2026 | Income Tax
Meaning of Scrutiny Assessment Scrutiny under income tax refers to a detailed examination of a taxpayer’s return by the Income Tax Department. It is conducted under Section 143(3) of the Income Tax Act. The objective is to ensure the correctness of income, deductions,...
by Audit Analyst | Jan 3, 2026 | Income Tax
Meaning of CPC CPC stands for Centralized Processing Centre, a division of the Income Tax Department. It is responsible for processing income tax returns filed by taxpayers in India. Located in Bengaluru, the CPC handles electronic return processing and related...
by Audit Analyst | Jan 3, 2026 | Income Tax
File Income Tax Return (ITR) A tax refund can only be claimed by filing your ITR for the relevant financial year. Declare total income, tax deductions, and all taxes paid including TDS, advance tax, and self-assessment tax. Ensure that the excess tax paid is reflected...
by Audit Analyst | Jan 3, 2026 | Income Tax
Meaning of Income Tax Refund A refund arises when the tax paid is more than the actual tax liability for a financial year. It includes excess TDS, advance tax, or self-assessment tax paid by the taxpayer. The excess amount is refunded by the Income Tax Department. It...
