By signing in or creating an account, you agree with Associated Broadcasting Company's Terms & Conditions and Privacy Policy.
New Delhi: Several taxpayers are yet to receive their income tax refund this year. In a big relief, Central Board of Direct Taxes (CBDT) Chairman Ravi Aggarwal addressed the issue and clarified as to when the refunds will be issued by the department. Addressing the Taxpayers Lounge at the India International Trade Fair (IITF), the CBDT chief clarified the reason behind the delay.
According to a PTI report, the CBDT chairman said that the department is probing high-value and system-flagged claims and the investigation is in the final stages. He said that low-value refunds are being issued. Agarwal further said that the department’s investigation found that some taxpayers had claimed wrong refunds or wrong deductions, so this is a continuous process. “We expect the remaining refunds to be issued by this month or December,” he assured.
According to Aggarwal, refund cases which are high in value, require additional verification, so processing of such cases is taking time.
According to Agarwal, the system has red-flagged many ITRs which show suspicious or incorrect deductions. Refunds have been withheld until their investigation is completed.
He said that the department found that many taxpayers have made false deduction claims and such cases need manual verification.
CBDT has sent mails/notices to some people asking them to file revised returns if they have missed any details or went wrong. This increases the processing time.