There is an incentive for taxpayers who file their income tax return online – they will get their refunds in a month. In a bid to speed up refunds and encourage online return filing (electronic filing of tax returns), the central board of direct taxes (CBDT) has promised expeditious refunds. The wait for refunds in the case of physical tax returns ranges between 5 to 10 months. “We want taxpayers to file the returns online as that helps in faster processing of refunds,” Sudhir Chandra, Chairman, CBDT told reporters. As on December 31, 2010, there were about 40 lakh refund cases pending with the tax department. Last Year a CAG had highlighted that it takes as much as 10 months for taxpayer to get his refund. Reports of widespread corruption and frauds in issue of refunds have also spurred a revamp of the refund system. “The whole idea is that small taxpayers should not face any hardship in his interface with the department, “Chandra Added. Though the e-filing of tax returns is rising in absolute terms every year, its level has stagnated at about a quarter of the total returns filed. The verification of the paper tax returns filed is a tedious process that also delays the tax refunds. This has become a bigger issue with the rising refunds. In 2010-11 the government refunded extra tax of 78,000 crores. Further, E-filing ensures that taxpayers information about income, taxes and refunds is uploaded in the tax system instantly and tax computation are processed on real time basis. The income tax department has been at tempting to make refund process faster and efficient by use of technology interface. “ A refund banker scheme is already in place in the whole of country to ensure that taxpayers get refunds well in time,” said an income tax department official. Taxmantra.com which offers most comprehensive return filing service in India was launched to help individuals in their taxation matters. The sole object of Taxmantra.com is to make your life easy as our tax experts file your return of income. We just require your salary certificate/ other income details to file return of income. Taxmantra.com offers excellent tax support in addition to filing of return of income and comprehensive tax planning. At Taxmantra.com we do not put you at pain by asking to fill in long tax forms. You just need to fill in a form with basic details after attaching your salary certificate/ other income details, after which we take care to online tax return filing in most hassle free manner. So online income tax filing with Taxmantra.com is obviously a better experience. Get in touch with us to file tax return online today and stay hassle free. We welcome you to Taxmantra.com for easy online income tax filing / online return filing!