Pending tax refund up to Rs 25,000 to be given soon

5:43 PM
Quick income-tax refunds may come because 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.

"We have given refunds of about Rs 41,000 crore in 2007-08, and about Rs 25,000 crore in 2008-09 till November 30," the official said.

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.

[Source: The Times of India]

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