Expedite Tax Refunds Below Rs. 50,000: CBDT

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In an effort to reduce taxpayers grievances, the Central Board of Direct Taxes on Monday directed the Income Tax department to expedite issuance of pending refunds which are below Rs. 50,000.

The status of outstanding refunds was reviewed recently. Following the review, the Central Board of Direct Taxes (CBDT) has issued directions to its field formations to expedite the issue of pending refunds below Rs. 50,000 for assessment years 2013-14 and 2014-15 in all such cases which have not been selected for scrutiny.

However, only those cases which are chosen for scrutiny are not included under this drive.

A number of refunds have an amount of less than Rs. 50,000 and it has been instructed that such cases shall be issued refunds promptly and those exceeding this amount should also be issued as soon as verification has been done.

Source: The New Indian Express

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