Financial Daily from THE HINDU group of publications
Tuesday, Mar 09, 2004

Cross Currency

Group Sites

Industry & Economy - Income Tax

I-T refund advices

Our Bureau

THIRUVANANTHAPURAM: Income-tax refund advices for refunds of up to Rs 9,999 will now be forwarded by the Income-Tax Department directly to the assessee, along with the income-tax refund order.

Stating this, Mr K.L. Kuriakose, Chief Commissioner of Income Tax, Thiruvananthapuram, said the Central Board of Direct Taxes (CBDT), New Delhi, has effected these changes in the procedure for issue of refund orders through Instruction No. 15/2003 dated November 6, 2003.

Under the revised procedure, the Reserve Bank of India can pay the income-tax refunds only if they are accompanied by corresponding advices. Assessees who receive refund orders have been requested to present to their bankers both the income-tax refund order and the income-tax refund advice so that instances of income-tax refund orders returning unpaid from the RBI for want of advices may be avoided.

Mr Kuriakose further clarified that there is no change in existing procedures with respect to refund orders amounting Rs 10,000 and above.

More Stories on : Income Tax | Kerala

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Insurance cover for family planning in the works — `It could act as check on rising population'

American jobs data bring bad news for India
Micro finance: Preparing for a major thrust
India to be among the faster growing economies: Kelkar
To mop up service tax collections — Excise Dept launches public awareness programme
Zanzibar invites Indian entrepreneurs
French cheese to vanish from Indian tables — Fall-out of ban on cattle treated with prostaglandin
Natco launches another anti-cancer drug
Boston Scientific gets US nod for coronary stent
Workshop on autism in Hyderabd
Apollo health card for women
Infrastructure development programme — Sikkim plans to source major loan from multilateral agencies
NPPA reduces prices of 34 bulk drugs
Dark days ahead as drought hits hydel power plants in Kerala
`Electricity Act may affect utilities, small consumers'
Textiles stocks draw special attention
Kerala HC declines to stay Govt order on Coke
Looking ahead
Assocham seeks better credit flow to SMEs, farm sector
CII, Myanmar chamber tie up
CII chief for Madurai zone
Textile machinery makers seek TUFS-like fund
C-DAC tool for editing scanned Malayalam text
NIIT gesture on Womens' Day
Meet calls for equal opportunities to women
Reward for savings agents
Indian textiles in quota-free world
Sankara Eye Foundation on a mission for vision
Charity plans Rs 100-cr hospital in Hyderabad
National Bread Day on March 11
`Invest Futura' on March 13
I-T refund advices
`Restore DEPB scheme for stainless steel'

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line