Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
  • Editorial Calendar 19-20
BW Businessworld

Govt To Fix Delays In Tax Refunds

Photo Credit :

The government is working towards fixing the problems of delay in tax refunds faced by many taxpayers arising on account of various reasons. However, the government, so far, has been helpless in dealing with entities deducting the taxes but defaulting in depositing the Tax Deduction at Source (TDS), said Nutan Sharma, the chief commissioner of income tax-TDS.
 
In an event organised by industry body ASSOCHAM in the capital, Ms Sharma said that her department is in the process of resolving the issues related to tax refunds.
 
“The functionality is now available with TDS assessing officers and soon it will be operational. Some issues regarding fate of the old cases and others have been taken up with the Central Board of Direct Taxes. Very soon, we will be able to resolve issues so that there is no problem in getting the returns,” said Ms Sharma.
 
She said in several instances the grievances arise on tax refunds because entities (those who deduct TDS from specified payments) fail to deposit them in to the government account. “We have tried our best and despite applying various measures we have failed, this gives rise to a large number of grievances from public,” said Ms Sharma.
 
Talking about the challenges at work, the Chief income tax commissioner-TDS said, “Verification or spot verification in cases of top deductors and defaulters and other such problems can be resolved through most of the measures taken by the department just to enforce the TDS and by making the department’s environment more congenial and tax friendly.
 
She also rued about lack of time due to which the department is not able to achieve targets and improve our budget collections. “It consumes a lot of our precious time in answering to courts for genuine things, we ourselves want that compounding should be done as quickly as possible and prosecution should be launched in as less number of cases as possible.”
 
 “Our aim is not to prosecute anyone, our aim is just compliance of TDS,” said Ms Sharma. “We want to educate people so that no such situation arises where we are forced to take any kind of coercive measure as it wastes a lot of time, creates tension and causes hindrance in creating a non-adversarial tax environment.”