Early IT Refund for non CASS and less than Rs. 50000 cases

 

With every month as tax season and the average income tax refund increases year over year, it is obvious that every assessee want their refund right away. Early IT Refund for non CASS and less than Rs. 50000 cases.

To the relief of taxpayers, CBDT has directed that refunds in respect of cases not selected under CASS and involving refund of less than Rs. 50,000 for the assessment years 2013-14 and 2014-15 may be issued as early as possible.

 

The directive issued by the CBDT, the apex policy-making body of the Income Tax department, to all Principal Chief Commissioners asks them to direct the assessing officers to expedite the process and issue refunds of less than Rs 50,000 and not facing scrutiny “as early as possible.”

 

As per the order, also accessed by PTI, as of November 1, refunds have to be made on 2.07 lakh IT returns involving Rs 659 crore for Assessment Year (AY) 2013-14 and another set of 12.90 lakh returns pertaining to Rs 4,837 crore for AY 2014-15 which are pending. Only those cases which are chosen for scrutiny are not included under this drive.

 

They said the refunds for AY 2013-14 and 2014-15 have already been “pushed” to the disbursing authorities by the Central Processing Centre of I-T returns based in Bengaluru and the task has to be accomplished much before the end of the current financial year.

For filing of returns and refund, visit taxmantra.com

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