Latest Expert Exchange Queries
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: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: list of goods taxed at 4% :: form 3cd :: cpt :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: VAT RATES :: VAT Audit :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD
 
 
« News Headlines »
 How will goods and service tax impact state revenues?
 Tax officers can issue certificates to avoid taking TDS from NRIs
 India is second most complex tax jurisdiction
 How to link your Aadhaar and PAN details to file income-tax returns
 How to calculate capital gains tax on property sold at less than stamp value?
 Return Filing - Under GST, this is how you will file tax returns from July 1
 Income tax filing FAQs part 1
 Filing Income Tax Returns? Things To Keep In Mind As Deadline Approaches
 Filing of online return for 4th quarter of 2016-17- extension of period thereof.
 New tax accounting standards may reduce leeway for infrastructure companies
 GST – CONCEPT & STATUS – As on 01st May, 2017

Now, expect Income -Tax refunds sooner
April, 29th 2009

Income tax assesseess may soon hope to get their refund amounts earlier than they are used to now. The income tax department will be coming up with a central processing centre in Hyderabad, which may help in early assessment of income tax returns, followed by early refunds. The facility, being developed in association with IT major Infosys, is expected to be inaugurated in a couple of months, said chairman of the central board direct taxes SSN Moorthy. He was in the city-based National Academy of Direct Taxes (NADT) to address the valedictory function of the 61st batch of Indian Revenue Service (IRS) officers.

Moorthy said the processing centre will lead to clearing of refund cases in a couple of months. The process currently takes at least four months and may go even longer.

Revenue secretary P V Bhide, who was the chief guest for the valedictory function, added that the direct tax collections in the country have touched Rs 3,37,000 crore, which is more than the previous year's figure of Rs 3,12,000 crore, but lesser than the budget estimates by Rs 8,000 crore. Most of the tax mop was through surveys and clearing of pending appeals.

The indirect tax collections have been at Rs 2,65,000 crore, which is lesser than the previous year's tally of Rs 2,81,000 crore. The budget estimated of Rs 3,20,000 crore has also been missed.

This is mainly because of the 4% excise duty cut in order to beat the slowdown. With the cut, it was expected that the indirect tax collections would come down to the present level, added Bhide.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Development Software Programming Software Engineering Custom Software Development Requirement Based Software Development Software Solutions Software Serv

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