New Delhi, Nov 16: In a bid to tone up tax administration and provide speedy relief to taxpayers, Centre has simplified the procedures for income tax refunds. Central Board of Direct Taxes (CBDT) has also decided to discontinue with the system of separate refund books for refunds upto Rs 9,999 and those of Rs 10,000 and above, official sources said here.
"The board (CBDT) has decided to simplify the procedure for issue of refunds by discontinuing the system of sending advice note to the bank separately in cases of refunds upto Rs 9,999," the release said explaining the simplification of the procedures for refunds upto Rs 9,999.
Stressing that the procedure for issue of refunds upto Rs 9,999 would be identical to the existing system for refunds upto Rs 999, it said the revised refund order book would include refund order, advice of refund and the counterfoil of refund and advice.
In the case of non-MICR category, the conventional refund order book has been replaced by refund book order format in cheque book form for refunds of upto Rs 9,999 and that above Rs 10,000, the release added.
Bureau Report