« Top Headlines » Open DEMAT Account in 24 hrs  ITAT Cuts ?4.85 Lakh Penalty After ?14.02 Lakh Interest Income Was Missed in ITR  ITR filed under old regime, tax calculated under new regime; Delhi ITAT gives taxpayer relief  ITAT Delhi Quashes Tax Notice on AMU PG Student’s ?18.34 Lakh Stipend, Declares It Tax-Free Under Section 10(16)  Advance tax deadline September 15: What happens if you missed the previous instalment payment?  How much gold jewellery can you keep at home? Nagpur ITAT explains rules on ownership, gifts, taxability  ?5.31 lakh TDS refund allowed by ITAT Delhi: Why absence of an original ITR did not block the taxpayer  Missed the ITR Filing Deadline? How to Claim Your Income Tax Refund and Correct Mistakes Before December 31, 2026  GST Return Preparation & ITC Analysis with TallyPrime (Hinglish Session)  GST Return Preparation & ITC Analysis with TallyPrime (Hinglish Session)  GST Return Preparation & ITC Analysis with TallyPrime (Hinglish Session)  Income-Tax Department Moves to Bring Greater Certainty to International Tax Cases «  Impact of Budget on foreign firms... Women to gain more if investment planning is sound... » I-T's going to abolish boundaries, get faster March, 04th 2008 After ushering in e-filing, the government is now set to revolutionise processing of returns. Jurisdiction-free processing of income-tax returns could be a reality soon, with the Finance Bill authorising the government to introduce such a scheme. This would speed up the refunds process. Once the jurisdiction-free system is in place, processing of returns could be carried out at centralised designated centres instead of the respective ward where the assessee files his return. The move is aimed at expediting the processing of returns and thereby quickening the issue of refunds. The processing of returns currently takes four months to a year. This is primarily because there is no equitable distribution of the processing work. In some jurisdictions, assessing officers are saddled with 60,000-70,000 returns while in smaller jurisdictions officials have just 5,000 returns. For the purposes of processing of returns under Sub-section (1), the board may make a scheme for centralised processing of returns with a view to expeditiously determining the tax payable by, or the refund due to, the assessee as required under the said sub-section, says the new provision which is proposed to be inserted in the Finance Bill. In fact, the department is carrying out a pilot project for centralised processing in Mumbai. Information about an assessee is sent to the concerned assessing officer in his jurisdiction who then sends an advise of issue of refund to the refund banker. The refund banker issues a refund cheque based on the advise. To facilitate the launch of jurisdiction-free processing, the income-tax department is setting up a National Data Centre that is expected to start functioning soon. All records of assessees would be uploaded on the National Data Centre to facilitate zone-free processing.