PENDING TAX REFUND UP TO RS 25,000 TO BE GIVEN SOON: GOVT

The government has asked the I-T department to soon process refund claims up to Rs 25,000 for every assessee whose tax is deducted at source (TDS) for 2007-08. “The Income- Tax Department has instructed the field formations to accept the TDS-payer’s claim, with certain exceptions … where the refund computed does not exceed Rs 25,000,” a Finance Ministry official said.

Taxpayers for long have been complaining about delays in getting refunds. The department, though, holds a different view and says that it has been making efforts for speedily processing refund payment. The problems arise because taxpayers are also not careful about giving relevant information on their returns, he said, adding I-T authorities are often not informed when taxpayers change residence.

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