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i) Promoting e-filing of the returns for speedy processing ii) Issuance of refunds through Refund Banker iii) Centralized Processing Centre (CPC) at Bengaluru has been set up to process e-returns. iv) Through Citizens’ Charter and other press releases issued by the Department, tax payers are requested to carefully mention the relevant particulars in return of income.
With regard to the adjustment of refunds against the outstanding demands, various communications have been issued in the past. A brief reference of the same is as under:
Instances of alleged corruption for settlement of refund claims and complaints come to notice from time to time. Whenever any such instance or complaints comes to notice, the same is verified and if it is found to be correct, the concerned officers/officials have to face penal consequences depending on the facts and circumstances of the case.
The Income Tax refunds during the first half of current financial year have come down to Rs 46,000 crore from Rs 60,000 crore in the same period last year.
Though a total sum of Rs. 5 crores was placed by the State Government at the disposal of the assessee-company for allotment of shares, such sum was not utilized for the purpose for which the same was transferred. As per the understanding between the assessee and the State Government pending allocation of shares, whatever interest was earned, should be paid over to the State of Gujarat.
The Income Tax Department is observing the first fortnight of September, 2012 starting from 03/09/2012 to 14/09/2012 as “Demand Management Fortnight”. In this regard a single window grievance cell has been set up to receive, acknowledge, and monitor grievance petitions pertaining to demand adjustment by CPC Bangalore for entire CCIT (CCA) Delhi Region. All taxpayers having a grievance pertaining to incorrect arrears demand communicated / adjusted by CPC, Bangalore are required to contact to the following officer.
The Central Board of Direct Taxes (CBDT) on Thursday said it has reduced the time period for tax refunds to three months and would take steps to release arrear payment as fast as possible.
The Income Tax department will aim to issue faster and accurate refunds this financial year and introduce new taxpayer friendly services. In her maiden interaction with the top IT brass, newly-appointed CBDT Chairperson Poonam Kishore Saxena has asked officials to ensure timely refunds and hassle-free services for taxpayers which are the major areas of grievance for a common man.
Kind reference is invited to the above, wherein the assessing officers have been instructed to verify and reconcile the demands where such demand or adjustment thereof by CPC is disputed by the taxpayer. They have also been advised to upload amended figure of arrear demand on the Financial Accounting System (FAS) portal of Centralized Processing Center (CPC), Bengaluru wherever there is balance outstanding arrear demand still remaining after aforesaid correction/ reconciliation.
[r 1] In this Article we have dealt with Question related to income Tax Refund i.e. 1) Necessary data necessities required in order to get the Refund through Cheque 2) Basic data required all the validations to get the Refund through ECS? 3) What should I do, if my Refund is failed due to change in my Communication Address? 4) Within how many days I will get my refund after updating the new address in the E-Portal? 5) What should I do, if my Refund is failed due to error in Ac number or Change in the Ac details? 6) Mandatory points to be noted while sending a Response Sheet.
