I-T REFUNDS TO GO ONLINE FROM DECEMBER

Last updated: 19 September 2007

Come December, and all the nagging income tax refund worries will be over. The I-T department would be crediting the refunds directly to tax payers' SBI accounts. "Tax payers need not come to Aikar Bhawan to persue their refunds. It will be electronically transferred to their accounts in SBI within three days of the IT department intimating the bank about refund details," chief commissioner pf I-T, Kolkata 1, Sudeep Roy said. Roy said the service would be officially launched in West Bengal in October, but considering the state of the infrastructure of the bank, it will be offered fullfledgedly only in December. Earlier, a pilot project targeting 10 lakh I-T assessees in Delhi and Patna was launched following a formal tie-up between the department and SBI. The project was successful – www.financialexpress.com


Ravikumar.G

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Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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