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Tax refund now straight in your account |
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Chief Commissioner of Income Tax, Mumbai, R.K. Singh said the system would be put in place gradually and those who have already opted for refunds through cheques will continue to receive them by post.
I-T officials said the new system would not only reduce their workload but also save taxpayers the trouble of running to department offices for refunds. “Every year, there are complaints that some assessment officers are intentionally holding back refunds and asking for a cut to release them,” said a senior I-T official, requesting anonymity. He added that officials often demanded 10 per cent of the refund amount as their share.
Now, the assessment officer’s job ends at processing the returns. Then, the system automatically calculates the refund amount and instructs the bank to transfer this to the taxpayer’s account.
Source: Manish Pachouly, Hindustan Times |
