I-T refunds Rs 1,793 crore to small tax payers
It is to reduce tax-payer grievances and enhance the tax-payer satisfaction.
New Delhi: The income-tax department has refunded Rs 1,793 crore to small tax payers as part of the special drive between December 1 and January 10, 2016. In an initiative to reduce tax-payer grievances and enhance the tax-payer satisfaction, the Central Board of Direct Taxes had issued instructions to the Central Processing Centre (CPC), Bengaluru, and the field officers in December, 2015, to issue refunds of amounts less than Rs 50,000 expeditiously.
“As a result of the special drive to issue smaller refunds, 18,28,627 refunds below Rs 50,000, involving a sum of Rs 1,793 crore has been issued between December 1, 2015 and January 10, 2016. These refunds relate to assessment years 2013-14 to 2015-16,” said CBDT. Moreover, it has now directed income-tax officials to issue refunds in cases where outstanding arrears are up to Rs 5,000 without any adjustment.
“In order to further expedite the process of issue of small refunds, CBDT has also directed CPC-Bengaluru and the field units that refunds up to Rs 5,000, and refunds in cases where outstanding arrears are up to Rs 5,000, may be issued without any adjustment of outstanding arrears,” it said. The department has also taken several measures in the last three months to reduce disputes and provide relief to tax-payers facing long standing litigation.