Rajya Sabha
Under the scheme of “Refund Banker”, the designated bank will be issuing to the taxpayers the refund as determined by the Income Tax Department, either through a cheque or direct credit in the bank account of the taxpayers. The scheme is proposed to be initially launched as a pilot project in one metropolitan and one non-metropolitan city for three months.
Computerised processing of returns has been introduced to ensure correctness and timely issuance of refunds. Guidelines have been issued to the Income Tax Department for issuance of refunds within four months of filing of return. The refunds are being directly credited to the bank account of the taxpayers through Electronic Clearing System (ECS) in 12 cities. This facility is proposed to be extended to 24 more cities. All refund cheques carry the details of the bank account of the taxpayer so as to prevent any fraudulent encashment of refund. The refund of pensioners and senior citizens are being handed over to them at the time of filing of return itself.
Senior officers of the Income Tax Department are monitoring and inspecting timely and proper issuance of refunds. Moreover, there are Grievance Cells and “Helpline”, centers under various Chief Commissioners of Income Tax for redressing any grievance of the taxpayer relating to non-issuance of refunds. A grievance redressal machinery is also functioning in Central Board of Direct Taxes under the direct supervision of the Chairman.
This information was given by Shri S.S. Planimanickam, Minister of State for Finance in reply to a question raised by Shri V. Hanumantha Rao in Rajya Sabha today.
BSC/DN-346
(Release ID :22550)