New Scheme to pay refund of Income Tax for those who file IT returns online
Posted on: 27/Jan/2016 10:19:30 AM
Income Tax department has planned to expedite the refund process for online Income Tax file returns.
As per this new plan, refund will be made within 1 week of filling the return.
All activities such as paperless communication, exchange of information etc are being digitalized. This would help in speeding up the activities.
An Income Tax Officer from Bangalore informed that Online activities have been taken up with priority in order the simplify and speed up the process for those file Income Tax Returns online.
Refunds have been given to 73 percent of the people who filed their Income Tax returns online during this current Financial Year alone within 30 days after their IT return filing.
If the persons had furnished all details correctly while filing their IT returns online, refund will be made within 30 days.
Some people get refund within a week. Efforts are being made to make this 1-week refund period as a routine.
As per the new procedure, the returns will be checked fast and refunds will be sent within a week.
The Direct taxation Department of the central government has ordered that refunds filed during the financial years 2013-14 & 2014-115 for all individual IT file returns claiming refunds of up to Rs. 5000/-.
The Income Tax department circles have informed that a total refund of Rs. 1148.14 Crores for 64938 persons is being planned to be sent before the end of this month (January).
