« Top Headlines » Open DEMAT Account in 24 hrs  Mock Test Papers Series - I & II for Students appearing in CA Foundation January 2027 Examination.  Income Tax Rules 2026: CBDT Introduces Revised Form 161 for Penalty Waiver, Clarifies Misreporting Categories and Taxpayer Relief  ITR Filing and Income Tax Audit Deadline Extended: 5 Critical Things Taxpayers Must Know  Filing Belated ITR for AY 2026-27? Know Which Losses You Can Carry Forward and Which You May Lose  CBDT Extends Tax Audit Report Deadline to October 21, ITR Filing Last Date to November 21 for AY 2026-27  CBDT Extends AY 2026-27 ITR Filing Deadline for Tax-Audit Cases: New Dates and Key Compliance Details  Foreign Assets Missing From Your ITR? Income Tax Department Opens One-Time Disclosure Window  Tax Audit Deadline September 30: Why AIS, TDS and GST Figures May Not Match Your ITR and What Taxpayers Should Do  Tax audit deadline September 30: Common mistakes taxpayers should avoid  Your ITR says ‘verified’, but the refund hasn’t arrived? 5 reasons why your money could be stuck  Missed the ITR Deadline but TDS Refund Is Due? Here’s How You Can Still Claim Your Money «  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.