Withholding of Income Tax Refund

Indian CurrencyWithholding of Income Tax Refund

A detailed written reply has been submitted in the Parliament by the Finance Minister on 22nd March, 2013 to a question regarding the withholding of IT Refund as follows...

There is no withholding of Income Tax refunds by the Government. Refunds arise mainly on account of processing of Return of Income (ROI) or on account of giving effect to the appellate orders. ROI can be processed up to one year from the end of the financial year in which Return is received, and the refund so generated, is issued in due course. Also, the refunds arising as a result of giving effect to appellate orders are issued after due verification of the same.

Various steps taken by the Government to expedite refunds are as under:

i) Promoting e-filing of the returns for speedy processing.

ii) Centralized Processing Centre (CPC) at Bengaluru has been set up to process e-returns of the entire country.

iii) To expedite faster issue, dispatch and delivery of refunds, issuance of refunds through Refund Banker.

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.

v) TDS deductors are required to compulsorily e-file their TDS returns on quarterly basis.

vi) Quoting of PAN by deductors in their return has been made mandatory. For improved compliance, failure to provide PAN number to deductor now results in higher rate of TDS.

vii) Online viewing of the Tax Credit Statement in Form 26AS is made available to tax payers so that they can verify the TDS details before filing the return of income and take proper steps with the deductor(s) to rectify mistakes, if any.

viii) Online viewing of status of taxpayers refund is available for better information dissemination.

Comments

Post a Comment

Popular posts from this blog

Retiring Rooms in Southern Railway Stations : Number of Rooms and with Charges

Image
Retiring Rooms in Southern Railway Stations : Number of Rooms with Charges In southern region almost in all the big stations have Retiring rooms or Dormitories for convenience of the passengers. The retiring rooms can be booked in PRS counter along with the reservation. And also to get the retiring rooms from the stations masters itself to produce the original tickets of in and outward journey. In some stations the vacancy positions of retiring rooms will be made in the notice board or electronic holdings. Detailed report of Retiring Rooms with the facility of AC and Non AC, Single or Double Bed and Dormitory Halls are compiled as available in all the stations under Southern Railway are given below for your information. Sl. No. Name of the Station Type of Accommodation No. of Beds Charges 1 Alappuzha Non AC Double Bed 2 240 2 Aluva Non AC Double Bed 1 300 3 Arakkonam Jn. Non AC Double Bed 2 170 4 Aravankadu Non Ac dormitory 3 100 5 Chengannur Non
Continue reading...

Emergency Quota in Railways : What is HOR and VIP quota..?

Image
Emergency Quota in Railways : What is HOR and VIP quota..? The emergency quota earmarked for meeting urgent travel requirement of High Official Requisition holders, Minister, IPs and VIPs and other emergent demands from various quarters is released sufficiently in advance before the scheduled departure of the train and unutilised quota gets released to the passengers on RAC/waiting lists automatically at the time to preparation of charts. With a view to ensuring allotment of Emergency Quota as per inter-se seniority in Warrant of Precedence, there is already a well established practice of allotment of Emergency Quota for self travel of High Official Requisition (HOR) holders/Members of Parliament and others. For keeping a check on the misuse of Emergency Quota, checks are conducted by Commercial Directorate from time to time, and also sometimes in association with Vigilance Directorate.
Continue reading...

Age restriction for availing LTC to son and daughter regarding...

What is the age of dependent son and daughter for LTC claim...? Is there any rule for unmarried dependent children are eligible to avail Leave Travel Concession or dependency is the only criteria..? Generally says that the female children are eligible upto marriage and male children are eligible upto age of twenty five. And one more view that the age limit for children in case of LTC should be same as for CGHS facility. According to the CCS (LTC) Rules, 1998, there is no indication of age, "Family" definition is given in the rule, "two surviving unmarried children wholly dependent on the Government servant, irrespective of whether they are residing with the Government servant or not". There is no age limit for availing LTC for the wholly dependent son or daughter.
Continue reading...