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Time of India
2 days ago
- Business
- Time of India
CPC extends deadline to process invalidated I-T returns
Ahmedabad: The CBDT has issued a circular relaxing the time limit for processing electronically filed income tax returns that were erroneously declared invalid by the Centralised Processing Centre (CPC). Experts say this will assist many taxpayers with their loan and visa applications. This measure will offer relief to a large number of taxpayers whose returns were declared invalid by the CPC on various technical grounds, particularly where signatures could not be verified or validated. This applies to all assessment years, and the time for processing the returns has been extended until March 31, 2026. Jainik Vakil, chairman of the direct tax committee of the Gujarat Chamber of Commerce and Industry (GCCI), said, "Many times, people do not get their returns e-verified and sent to the CPC. However, if it does not reach the CPC within 30 days, the return is invalidated. If the return filed by an assessee is declared invalid by the CPC and consequently not processed, it is advised to immediately follow up with the CPC and get it processed. If any refund is due, then the same will be granted along with interest till date. Make sure that your PAN is linked to Aadhaar. If not, get them linked so that the refund gets issued. All those who face issues with loans and visas due to invalid returns will get relief due to this."
Time of India
03-07-2025
- Business
- Time of India
Gujarat chief minister launches GCCI's book on Hindu Succession Act
Ahmedabad: Gujarat chief minister Bhupendra Patel launched a book about the Hindu Succession Act published by the Gujarat Chamber of Commerce and Industry (GCCI) on Wednesday. GCCI direct tax committee chairman CA Jainik Vakil said, "We regularly organise programmes about direct taxation, budget discussions, books, and open houses. This book, Hindu Succession Act, is written by Upendra Bhatt and it gives in-depth knowledge about the act. Traders find it difficult to understand the complexity of tax assessment under HUF, but it is explained well in the book." GCCI President Sandeep Engineer, author of the book Upendra Bhatt, and Jainik Vakil participated in the book launch with the chief minister. You Can Also Check: Ahmedabad AQI | Weather in Ahmedabad | Bank Holidays in Ahmedabad | Public Holidays in Ahmedabad
