Guidelines to grant refunds claimed in Form e-501

8th floor, Vikrikar Bhavan Mazgaon , Mumbai-400010. TRADE CIRCULAR To, ………………………… ………………………… NO.VAT/ Refund/ AC ST(VAT-2)/87                                                                                   Mumbai, Dated: – 06/02/2016 Trade circular.No.5T of 2016 Sub: Grant of Refunds under VAT – Guidelines to grant refunds claimed in Form e-501 and assessment thereof on priority Ref: – Trade Circular No. 22T of 2010, Dated 05/10/2010 Gentleman/ … Read more

Income tax refunds will issue without any adjustment of outstanding arrears if arrears are up to Rs.5000

In an initiative to reduce taxpayer grievances and enhance the taxpayer satisfaction, the Central Board of 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 Rs.50,000/- expeditiously. As a result of the special drive to issue smaller refunds, 18,28,627 … Read more

CBDT has issued directions to expedite the issue of pending refunds below Rs.50000

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes  New Delhi, 7th December, 2015 Subject: Expediting issue of refunds below fifty thousand for A. Y. 2013-14 and A.Y. 2014-15 – regarding  This initiative is expected to significantly reduce taxpayer grievances and enhance the taxpayer satisfaction.  Pr. Commissioner of Income Tax … Read more