Expedite refunds below Rs 50,000: CBDT to Tax Dept
December, 08th 2015
The Central Board of Direct Taxes (CBDT) has directed the Income Tax Department to expedite issuance of pending refunds which are below Rs 50,000 in all cases except those selected for scrutiny.
The initiative is expected to significantly reduce taxpayer grievances and enhance the taxpayer satisfaction, the CBDT said.
“The status of outstanding refunds was reviewed recently. Following the review, the CBDT has issued directions to its field formations to expedite the issue of pending refunds below Rs 50,000 for assessment years 2013-14 and 2014-15 in all such cases which have not been selected for scrutiny,” a CBDT statement said.
All field formations and the Central Processing Centre at Bengaluru have been directed to complete the process as early as possible, it added.
It said the department was committed to improving taxpayer services and redressing grievances in a timely manner.
According to the government data, Rs 5,496 crore is locked in pending refunds for these two AYs.