Govt says 49 lakh I-T Refunds pending
The government today said around 49 lakh cases of income tax refundsare pending with the revenue department.
“Total number of pending refund returns (up to January 2010 is 49 lakh. The statutory time limit to process the return and issue refund in financial year 2009-10 is March, 31, 2011,” minister of state for finance SS Palanimanickam informed the Rajya Sabha in a written reply.
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Rajat Singhal CA,CS,CFA
(Senior Manager (F&A))
(254 Points)
Replied 10 March 2010
Thanks.... Mita for sharing this..
kannan s nair
(Proprietor)
(29 Points)
Replied 10 March 2010
What about IT refund for AY 2009-10. For LIC agent, a petty contractor and a middle class person having TDS, the refund from IT Dept. is an intrem relief for their financial problem. The Govt. have no moral right to keep the Excess amount of TDS for a long time.
The huge amount of interest given to the assessee and income earned by the Derpartment are to be studied in the NEXT budjet.
Tax credit to the assessee's as per 26Q must be given at the time of issuing refund. Individual who don't have the facility to view the 26Q are now not given FULL tax credit. It is not fare under INDAN morality
kannan nair
CAclubindia
