New Delhi, Oct 10 (PTI): Around 35 lakh cases for issuance of refunds are currently “held up” with the Income-Tax Department owing to mismatch and validation of the taxpayers’ bank accounts and the taxman is reaching out such assessees via a special call centre, CBDT Chairperson Nitin Gupta said on Tuesday. The direct taxes body chief said the department was “in correspondence” with such taxpayers and it is their aim to expeditiously resolve these issues. “We want to credit the refunds to the correct bank accounts of the taxpayers quickly,” he said. Asked during an interaction about instances where refunds

MUMBAI, Oct 10 (Reuters) – India’s economic growth forecast for the current fiscal year has been raised to 6.3% from 6.1% earlier, the International Monetary Fund said in its October 2023 World Economic Outlook (WEO) report that was released on Tuesday. The global lender expects retail inflation in the South Asian nation to rise to 5.5% in 2023/24 before easing to 4.6% in 2024/25. “Growth in India is projected to remain strong, at 6.3% in both 2023 and 2024, with an upward revision of 0.2 percentage points for 2023, reflecting stronger-than-expected consumption during April-June,” the IMF said. The Reserve Bank