« Top Headlines » Open DEMAT Account in 24 hrs  New Income Tax Act: ITR forms to be issued prior to FY28, says govt  GSTR-9C Explained: Turnover Limit, Due Date, Statement Format & How to Prepare It in Tally Prime (2025 Update)  Will Income Tax Department release new ITR forms by January 2026? Finance Ministry says this  The Government of India has strengthened MSME protection through strict payment rules, ensuring that Micro & Small Enterprises receive timely payments from buyers. Under the MSME Development Act (MSMED Act), 2006, buyers must make payments within:  ITR Refund Delays in India: Why They Happen & How to FastTrack Your Refund in 2025  ITR Refund Delay: From Bank Errors To Department Checks, 5 Big Reasons Your Refund Gets Stuck  Income Tax Slabs 2025: New Vs Old Regime; Which One Is Better For You For FY2025-26?  Seamless Integration: How Tally Prime Connects Businesses to the Digital Economy  Govt to notify new ITR forms, Income Tax Act 2025 rules by January 2026: CBDT chief  Digital Efficiency for MSMEs: The Tally Prime Advantage  5 Ways Tally Prime Reduces Cost and Boosts Productivity for Startups «  Structural audit made mandatory for Greater Mumbai buildings... New rules to administer I-T welfare fund... » 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.