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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
News Headlines »
 5 things you should not forget while filing income tax return
 10 Easy Steps to File ITR 1 Online
 How to e-verify income tax return?
 What to do when you receive a notice from the tax department
 How to use your Form 16
 Which ITR form applies to you for financial year 2017-18?
 Income tax returns filing form-2 released; should you use it? Find out
  Are you planning to file ITR 1 form? here's how to do it Income Tax Return (ITR) filing
 30 LPA-Opening Financial Controller
 ITR form 2 in java release by CBDT for return filing by individuals
 How to file your income tax return using ITR Form-1 Income Tax efiling for AY 2018-19

Refund banker system to be implemented next year: CBDT
August, 14th 2007
Long wait for income tax refunds will be a thing of the past as tax-payers will get their dues back within three days of assessment of claims when the Refund Banker System is extended throughout the country from the next financial year.

"As a pilot project, Refund Banker System has already been launched in New Delhi and Patna and is quite successful and it is expected that by the next financial year, the system will be implemented in all over the country," B M Singh, chairman of Central Board of Direct Taxes, said here today.

Singh, who was here to attend a conference on direct taxes, told reporters that the e-return system has been implemented in the country and till now 1,46,000 companies have filed returns electronically. Till now only companies were allowed to file e-return but by next financial year all tax-payers would be allowed to file e-return, he added.

He also said the income tax department was computerising its records. It is also setting up a three-tier system to keep records at several levels for making the system fool-proof and streamline the scrutiny of tax returns, he said.

Asked about Finance Minister P Chidambaram's recent statement hinting relaxation in tax structure if collections were satisfactory, Singh said "giving relaxation in the tax structure is the prerogative of the finance minister".

The government had set a target of collecting Rs 2,67,000 crore from direct taxes and it is expected that the target would be achieved, he added.
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System development CMS development Content Management Solutions CMS Solutions Content Management Services CMS Services CMS Software

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