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Expedite Tax Refunds Below Rs 50,000: CBDT

Central Board of Direct Taxes directed the Income Tax department to expedite issuance of pending refunds which are below Rs 50,000.

Published: 08th December 2015 03:38 AM  |   Last Updated: 08th December 2015 03:38 AM   |  A+A-

NEW DELHI:  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.” the Finance Ministry statement said.

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, the Finance Ministry official said.

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