Latest Expert Exchange Queries

Make your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: form 3cd :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: empanelment :: list of goods taxed at 4% :: VAT RATES :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India
 
 
« News Headlines »
 Last minute checklist for filing income tax return
 Filing tax returns? Here are seven things to remember
 Clarifications on computation of book profit for the purposes of levy of Minimum Alternate Tax (MAT) under section 115JB of the Income-tax Act, 1961 for Indian Accounting Standards (Ind AS) compliant companies.
 Mistakes in filing income tax returns that may get you a tax notice
 Know how you can claim return of income in Form 26 AS case
 What you must know for tax filing this year
 How to file tax return if you have two Form 16s
 10 things you should know about Form 26 AS
 How to file income tax return without Form 16
 How to rectify income tax returns
 Income-tax (21st Amendment) Rules, 2017

For GenNeft, I-T refund would be just matter of a day
April, 14th 2008

Taxpayers income-tax refund woes could soon be over. With a view to make tax refunds faster and efficient, the Central Board of Direct Taxes is proposing to move to National Electronic Funds Transfer (Neft) system.

This would allow taxpayers to get their refunds straight into their bank accounts within a day of processing. The board was looking at both Neft and Real-Time Gross Settlement (RTGS), and has opted for the former. The scheme will be launched on a pilot basis this month, sources said. Initially, however, the facility would be available only in cities that earlier offered the refund banker scheme.

This is a step forward from the refund banker scheme where assessees could get their refund cheques. Like the refund banker scheme, the facility also would be available only for individual taxpayers. The refund banker scheme is in operation in Chennai, Kolkata, Mumbai, Bangalore, Delhi and Patna. After the pilot phase, it would be expanded to cover other cities.

Neft is a nationwide system to facilitate transfer of funds from any bank branch to any other bank branch. Heres how it will work: income-tax department would process an individuals tax return. If there is a case of a refund, it would forward the assessees name to the bank in e-mode with the details, such as the assessees bank account.

It will also authorise the bank to remit the specified amount to the assessee. At present, State Bank of India is acting as the refund banker for the department and the facility may also be launched through the bank.

Since the department is gearing up for zone-free returns processing, the new system would ensure delivery of tax refunds expeditiously and correctly.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multi-level Marketing MLM India Affiliate Marketing Affiliate Marketing Software MLM Software MLM Solutions Multi level marketing solutions MLM Servi

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions