Date:24/11/2008 URL: http://www.thehindu.com/2008/11/24/stories/2008112452101600.htm

Business

Complaint regarding refunds for AY 2008-09

I filed a refund application on 27.7.2008 for Assessment Year 2008-2009. When I made a personal visit to the Assessing Officer to request for expediting the refund, the Assessing Officer informed me that he is unable to deal with the same as the Income-tax Department is planning to outsource the refund work to private agency. If they are so planning, should they not take a decision without delay?

Whatever be the reason for the delay, there is no justification for the same as the Income-tax Department cannot retain the funds due to the public indefinitely, though interest is payable on the refund, if not granted within three months from the end of the month in which the return is filed. The interest will be 15%, but again taxable as income of the taxpayer.