All Income Tax refunds to be issued by 30th April – CBDT
- Tuesday, April 19, 2011, 13:05
- Income Tax
- News
After having made 8.23 lakh refunds already in the first half of this month, the Income Tax Department today said it will settle all the pending claims in April itself. Refunds of Rs 78,000 crore to about 85 lakh assesses were made in 2010-11.
In the first half of April, the I-T Department refunded Rs 6,183 crore to 8,23,101 assesses, Chairman of Central Board of Direct Taxes ( CBDT )) Sudhir Chandra told reporters here.
He said all the remaining refunds will be settled this month. “We are trying to issue all the refunds in April.”
Chandra Refunds of about Rs 4,000 crore will be made to 7,91,312 tax assesses by April 20, Chandra added.
The refunds in 2010-11 are about 70 per cent higher than Rs 50,000 crore made in the previous year.
Chandra further said that the I-T Department will settle refunds within one month to all those assesses who file returns electronically.
He said that despite making “huge” refunds, the direct tax collection will be in the range of Rs 4.5 lakh crore, much above the revised estimates of Rs 4.46 lakh crore.
Related posts:
- Govt issues Rs 72,000-cr income tax refunds in 2009-10 – CBDT
- CBDT chief for quick payment of IT refunds
- CBDT – Status of Income tax Refund issued from April 1 to 14 2011
- CBDT to save Rs 4,400 cr on interest payout
- CBDT gives times upto 20th April to issue Income Tax Refund
a wonderful work done bythe chairman in sending the refund orders. if all the refunds are sent by the IT dept by April 2011 as told by the chairman, it is really a commendable job done by the dept. under his leadership. the assessees, particularly assessees to whom less than rs.25,000/- are due, will be very happy.
Both my better haf and my daughter have refund orders for 2010-2011.This is heartening. Kudoes to ITDept. I appreciate the laudable efforts. Why not me? (“mane khem nathi”)
Whether Dept will take care for issuing refunds, pending pertaining earlier years i.e. AY 07-08, 08-09 & 09-10 -10 though repeated reminders were submitted to issue refunds.
The instructions given by the CBDT Chairman are practical and good for the assessees. However, whether these instructions will be implemented in all cases is the moot question. In a place like Mumbai some people have received their Refunds for A.Y. 2010-11 but have not received Refunds for the previous years even where repeated reminders have been sent by assessees. Rectification Applications for past years even after reminders are just not takenup. It is now time for the Chairman to instruct the Officers to takeup such cases and complete them within say three months. Strict monitoring and accountability can only solve this problem as vested interests will always sabotage such instructions. Harrassed Refundees can only wait and pray for such relief.