Income Tax Payers will receive total refund of Rs.1148 Crores before end January
Posted on: 19/Jan/2016 2:29:33 PM
In order to attend to the grievance of the Income Tax payers and to satisfy than, the Direct taxation Department of the central government has been taking several measures.
As one of these measures it has started rigorously implementing the plan to refund the amount as claimed by the Tax Payers who file their returns in a honest, sincere, and regular manner.
As per this step, a total refund of Rs. 1148.14 Crores as claimed by 64938 individuals who had filed their Income Tax returns is being arranged to be disbursed to the tax Payers before the end of January.
The refund will be made for the Tax Payers whose incomes tax already deducted & calculated as the outstanding amount in excess up to Rs, 5000/-.
The issue of refund of IT was seriously discussed during a recent review meeting conducted by the Head of the Direct taxation Department, Mr. A K Jain. A decision was taken to refund the above excess amounts already recovered to be refunded by whatever means before 31st January.
The Department of Direct taxation informed that Rs. 65000 Crores was refunded to 198 Crore individuals who had outstanding amounts up to Rs. 50000/-.
