• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

K.R.Srivats

New Delhi, June 10

The Finance Ministry is toying with the idea of putting in place a system of `refund banker' to ensure prompt and quick credit of income-tax refunds to the taxpayers around the country. A refund banker would be a chosen banking entity that would be given the responsibility of refund payment to taxpayers after the tax department has certified the quantum of refunds.

"The idea is at a very nascent stage", Mr K.M.Chandrasekhar, Revenue Secretary, said. He, however, added that approvals of the Comptroller and Auditor-General of India (CAG) and other authorities dealing with government accounts would be required before such a system could be introduced.

More Stories on : Income Tax

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

Stories in this Section
Reliance opposes mandatory blending

Copyright © 2006, 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