Quick refunds

Nov 27 2012, 12:53 IST
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SummaryIf you have filed your income-tax returns online, you can get refunds within three to four months.

date for which the ITR-V forms have not yet been received by the CPC.

Easier & faster

* The Central Board of Direct Taxes has set up Aaykar Seva Kendras for efficient tax administration

* The web-based facility can be used by the taxpayer to track the resolution of refunds and credit for pre-paid taxes and augmentation of processing capacity

* Refunds are directly deposited through the electronic clearing system in the taxpayer’s bank account and electronic filing of TDS returns is now available throughout the country

* To ramp up the processing of refunds, the Centralised Processing Centre at Bangalore has also increased its daily processing capacity of returns filed

* A belated return can be filed within two years of the end of the financial year or before completion of the assessment year, whichever is earlier

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