The Hindu : Tamil Nadu / Chennai News : Special drive to expedite issue of IT refunds to salaried class

Online edition of India's National Newspaper
Wednesday, Jan 24, 2007
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Tamil Nadu

Tamil Nadu - Chennai

Special drive to expedite issue of IT refunds to salaried class

T.S. Shankar

13.94 lakh returns received up to November 2006

CHENNAI: A special drive has been launched by the Income Tax department to help expedite issuance of refunds to the salaried class who filed returns during assessment years 2005-06 and 2006-07.

"We received a total of 13.94 lakh returns up to November 2006 compared to 13.39 lakh returns received up to November the previous year, an increase of 4.10 per cent," said C.R. Ravichandran, Chief Commissioner of Income Tax, Chennai, on Tuesday.

He said the net collection up to December 2006 was Rs.10,047 crore, an increase of 35.27 per cent over the corresponding period the previous year. While the original target was Rs.13,872 crore, it was raised to Rs.15,491 crore recently. This was an increase of 43 per cent over the actual collections of Rs.10,841 crore last year.

More manpower

He said a total of 3,04,186 returns were pending for processing in `salary charges' of Chennai at the beginning of November 2006. In order to speedily process these returns and issue refunds, additional manpower was deployed and asked to work beyond office hours and on holidays. Additional computers were also pressed into service.

After the special drive began, a total of 1,57,078 returns were processed while 1,47,108 returns were pending. All the pending salary returns would be processed and refunds issued by February-end.

Plea to assessees

Mr. Ravichandran urged the IT assessees to provide details of their bank account and the branch and specify whether it was a savings account or current account, to facilitate expeditious crediting of IT refunds through electronic clearance.

Referring to the performance of advance tax collection by the IT Department, the CCIT noted that the banking, financial, textiles and software sectors were the major contributors.

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