Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« Indirect Tax »
Open DEMAT Account in 24 hrs
 When will ITR1 forms become available for tax filing. Check details
 How to reduce tax on rent from vacant houses
 Make sure to claim these tax deductions
 Investment tips for those opting for new tax regime
 Indirect tax dept issues notices to companies over late input credit claim under GST frame
 E-generated document required for indirect tax notices
 FinMin seeks industry inputs on direct, indirect tax changes
 Govt gives businesses four months to settle indirect tax disputes
 ITR filing becomes easy via new 'e-Filing Lite' portal - 5 things to know Income Tax Return
 No income tax on interest from accident compensation: High Court
 How much tax do you need to pay for your equity investments?

Income Tax refunds should be made after assessment
June, 25th 2014

Income Tax (I-T) refunds should be paid immediately after assessment of the taxpayer is over and without delay, I-T Ombudsman for Kolkata K K Mahapatra today said.

"Refunds should be given soon once the assessment is over and should happen in normal course," Mahapatra said at an interaction at the Merchants' Chamber here.

Stating that the office of the ombudsman gets numerous grievances over delay in IT refunds, he said although it should happen fast, the Central Processing Centre in Bangalore was hamstrung by processing claims.

"Any assessing officer should make refunds as soon a fund is created for the purpose," he said.

Mahapatra said the IT Ombudsman's office functioned under a set of guidelines and not statutes.

"Since we operate under a set of guidelines, it gives us the flexibility in several matters", he said.

However, Mahapatra said his office had asked the Central Board of Direct Taxes ( CBDT) and the finance ministry to reframe the guidelines to give empowerment.

The I-T Ombudsman said 80 per cent of the refund awards given by the Ombudsman were complied with by the assessing officer and the balance 20 per cent was intractable.

He also said any assessing officer not complying the Ombudsman's order in making genuine refund claims might get into career problems which might vary from a reflection in Annual Confidential (rpt) Confidential Report ( ACR) or place of posting.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting