Friends, the Central Board of Direct Taxes (CBDT) day by day announced more schemes for tax payee in order to popularized and encourage tax payers to electronically file their returns. The CBDT further announced one more package to lure taxpayers to file e-returns i.e. quick e-Return File and get quick Refund. The CBDT promised that, if tax payee submit their annual return by e-Return Filing process then in-case the employee have any refund the CBDT provides immediately.
All tax-payee well known about refunds process, take about 7 - 12 & more month from the date of submission of return, but in case of electronically filed return, refunds where due, will be processed in a month's time now. The Chairman of CBDT Shri Sudhir Chandra stated that the idea behind this incentives was that “We want tax-payers to file electronically as that helps in faster processing of refunds.”
This processes gives happiness to tax-payee because ‘E-filing ensures that tax payers’ information on income, taxes and refunds are uploaded in the tax system instantly and tax computations are processed on a real-time basis’. On the other hand e-filing of return is mandatory for all companies but optional for individuals, HUF's etc.
All tax-payee well known about refunds process, take about 7 - 12 & more month from the date of submission of return, but in case of electronically filed return, refunds where due, will be processed in a month's time now. The Chairman of CBDT Shri Sudhir Chandra stated that the idea behind this incentives was that “We want tax-payers to file electronically as that helps in faster processing of refunds.”
This processes gives happiness to tax-payee because ‘E-filing ensures that tax payers’ information on income, taxes and refunds are uploaded in the tax system instantly and tax computations are processed on a real-time basis’. On the other hand e-filing of return is mandatory for all companies but optional for individuals, HUF's etc.
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