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Adjustment of refund orders: Refund Banker now processes departmental payment adjustments electronically to address automated bank clearing. A new functionality in the Refund Banker module allows transmission of adjustment Refund Orders in favour of the Income Tax Department electronically because banks' automated clearing systems have reduced acceptance of manual departmental cheques; officers must implement and note this change. Handling of FBT refunds payable to Income Tax remains unchanged.
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Adjustment of refund orders: Refund Banker now processes departmental payment adjustments electronically to address automated bank clearing.
A new functionality in the Refund Banker module allows transmission of adjustment Refund Orders in favour of the Income Tax Department electronically because banks' automated clearing systems have reduced acceptance of manual departmental cheques; officers must implement and note this change. Handling of FBT refunds payable to Income Tax remains unchanged.
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