Now, fate of tax refund would be decided within 30 days. The apex body on income tax – Central Board of Direct Taxes (CBDT) – has issued a new set of directions. Taxpayers will no more have to wait too long. Either they will get their due refund or would be penalised to pay due amount with interest within 30 days. The new office order has been sent to all deportment officials.
CBDT order says that if a tax payer has contested the demand and if the assessing officer (AO) has not responded, then the Bangalore-based Central Processing Centre (CPC) will issue a reminder to the AO of a particular tax payer. The CPC will ask the AO to either confirm or make appropriate changes in the demand within 30 days. If the assessing officer does not give any response within 30 days, the CPC would issue the refund without any adjustment. Then the responsibility of non- adjustment of refund would be of the assessing officer.
The CBDT also wants to fix responsibility of taxpayers. If taxpayers do not respond to the due demand, then the CPC would send reminders and ask the taxpayers to either agree or disagree on the demand. The taxpayers have to submit response on the e-filing portal of income tax within 30 days.
If the CPC does not receive any response from tax payers within 30 days, it could raise the demand as well as interest under section 220 (2) against the refund due and issue the balance refund.
On January 14, 2016, CBDT issued a direction to tax department officials regarding speedy process of issuing refunds up to Rs50,000 even without adjusting of outstanding. New order will applicable on rest of the cases where notice has been issued under section 245.
Tax official said that "government has good intention but the problem is of execution due to shortage of man power and infrastructure".
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