Friends,
In his budget speech yesterday, Finance Minister Pranab Mukherjee promised to make filing of tax returns a very simple procedure. As of now one can file returns online as well as make e-payment of taxes through over 30 banks and also avail the option of an electronic clearance service facility that deposits the tax refund directly into your bank account. Mr Mukherjee in his speech yesterday has stated that the Government is working on further improving the above systems for the benefit of the taxpayer.
(MAJOR HIGHLIGHTS OF UNION BUDGET 2011-12)
(MAJOR HIGHLIGHTS OF UNION BUDGET 2011-12)
In order to speed up the process of getting acknowledgments on filing returns the Finance Minister has announced setting up of two more centralised processing centres in Manesar and Pune, in addition to the existing one in Bangalore. Apart from this he said going forward one will not only be able to do e-filing of returns but also track their refund and its status online as well. The Central Board of Direct Taxes will provide a separate Web-based facility that will be a direct stand-alone interface with the income-tax department. This will let one report and track the status of refunds online. One will also be able to know about the credit amount for taxes that he may have prepaid.
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