Issue of IT Refunds of Smaller Amounts

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....ssue of IT Refunds of Smaller Amounts <br>News and Press Release<br>Dated:- 15-1-2016<br><BR>In an initiative to reduce taxpayer grievances and enhance the taxpayer satisfaction, the Central Board of ....

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....Direct Taxes had issued instructions to Central Processing Center (CPC), Bengaluru and the field officers in December, 2015 to issue refunds of amounts less than &#8377; 50,000/- expeditiously. As a ....

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....result of the special drive to issue smaller refunds, 18,28,627 refunds below &#8377; 50,000/- involving a sum of &#8377; 1,793 crore have been issued between 1st December, 2015 and 10th January, 2016....

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..... These refunds relate to Assessment years 2013-14 to 2015-16. In order to further expedite the process of issue of small refunds, CBDT has also directed CPC-Bengaluru and the field units that refund....

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....s up to &#8377; 5,000/-, and refunds in cases where outstanding arrears are up to &#8377; 5,000/- may be issued without any adjustment of outstanding arrears. Office Memorandum F. No. 312/109/2015-OT ....

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....dated 14th January 2016, conveying these directions of CBDT is available on the website of the Department www.incometaxindia.gov.in.<BR> News - Press release - PIB....