Now, expect I-T refunds sooner

Now, expect I-T refunds sooner
Income tax assesseess may soon hope to get their refund amounts earlier than they are used to now. The income tax department will be coming up with a central processing centre in Hyderabad, which may help in early assessment of income tax returns, followed by early refunds. The facility, being developed in association with IT major Infosys, is expected to be inaugurated in a couple of months, said chairman of the central board direct taxes SSN Moorthy. He was in the city-based National Academy of Direct Taxes (NADT) to address the valedictory function of the 61st batch of Indian Revenue Service (IRS) officers. Moorthy said the processing centre will lead to clearing of refund cases in a couple of months. The process currently takes at least four months and may go even longer.

Source : http://timesofindia.indiatimes.com/Nagpur/Now-expect-I-T-refunds-sooner/articleshow/4460951.cms

Comments

  1. Now every transaction requires PAN card and it is one of the most important document issued by the income tax department. PAN card is issued mainly to prevent tax evasion. It links all financial transactions. Income tax expected to return IT files of all the individual or entity transactions. Opening a bank account, credit or debit cards, selling or buying vehicles etc. each and everything needs PAN card. You can apply new PAN card online. It is very easy to get this document.

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