Tuesday, September 6, 2011

Quick Processing of Income Tax Return

                  Encouraging results of the Income Tax Department's efforts to promote electronic filling of returns have prompted the Central Board of Direct Taxes (CBDT) to accelerate the procedure and stabilise systems infrastructure so as to ensure quick processing of all I-T returns.  The Centralised Processing Centre (CPC) at Bengaluru, set up processing of e-filed returns from across the country and manually filed returns of Karnataka and Goa region, has ensured a substantial jump in the number of returns filed this year through the electronic mode.   The Department is now in the process of setting up two more CPCs one upcountry (Manesar in Haryana) and the other in Pune to process all the manually-filed returns.   These two CPC's are expected to start functioning during the ongoing fiscal.  One more CPC at Kolkata in the east is also on the anvil.  About 5.3 million returns were filed electronically for the 2011-12 assessment year till 31th July as compared to 2.2 million returns filed during this period last year.   A senior Income tax Department official said that electronic filling of returns and quick processing ensured speedy clearance of refunds by the end of the current financial year.   The Department is expected to complete a major portion of the systems requirements for shifting all the I-T related work to the electronic platform. 

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