‘Refund orders are being despatched’
Computerisation initiative is facing problems: official
MANGALORE: Income tax refunds in the future will be directly credited to the bank account of the tax assesses, Additional Commissioner of Income Tax, Mangalore, K. Parashivayya has said.
A press release issued by the Institute of Chartered Accountants of India (ICAI), Mangalore branch, here on Saturday quoted Mr. Parashivayya as saying that the process would be vastly facilitated by a move by the Central Board of Direct Taxes (CBDT) which is trying to systematise electronic filing of returns. He was delivering a guest lecture on the “Emergence of New Modalities of Filing Income Tax Returns” organised by the Mangalore branch of Southern Indian Regional Council of The Institute of Chartered Accountants of India here recently. Mr. Parashivayya admitted that there had been a delay in the processing of income-tax returns and refund orders. “There has been teething problems with regard to the computerisation initiative of the department,” he said according to the release.
Attributing this delay to faulty uploading of data, Mr. Parashivayya said this had created problems on the tax deduction at source (TDS) front. Stating that this would be addressed at the earliest, he said the assessing officers had been briefed on this aspect and credit for TDS would be passed following certain stipulations. The department has started dispatching refund orders to income-tax assesses, Mr. Parashivayya added. The official, along with his colleagues, interacted with chartered accountants on certain procedural aspects, current issues and revision of income tax rates.