Skip to main content

You Can Seek Tax Refunds Through Right to Information (RTI) Act

Option can be exercised only for self-applications and after a year of non-payment

Tax experts say the Income Tax Act does not mention any recourse to track tax refunds for an individual. Typically, we check if the returns were filed on time, the data provided and if the address is correct. Mostly, these are the problem areas. If all these are correct, taxpayers are advised to fill Form 30 to check on the refunds, within one year from the end of the assessment year.

For the purpose, you need to give copies of the return, advance tax chalan and TDS certificate. You should get a reply in six months. An alternative could be writing to the assessing officer with whom you filed your returns and marking a copy to the additional commissioner.

You should get a reply in a month.

The final step is to approach the Income Tax Ombudsman.

Industry experts say the I-T Department had issued an internal statement last year on streamlining the refund procedure. It said if the TDS credit was less than `3lakh, the refund amounted to less than `25,000 and the appropriate form/information was furnished, an individual should get his/her refund within six months, debited to his/her account. Amounts more than `25,000 are sent through cheque.

Yet, in spite of all the norms and attempts to improve the process, there are hundreds like Shah awaiting their refund year after year. And, there is an interim step before you knock at the Ombudsmans door.

RTI can come to the rescue here. The application should be addressed to the Central Public Information Officer or the assessing officer of the I-T Department. There is a format you should follow for the information you seek (see box) .

Additionally, you should enclose a copy of your tax returns for that assessment year and a copy of Form 16A. An RTI application takes at least a month to get a response.

Importantly, you can only seek information through RTI and not question or ask reasons/opinion from the office, as it is not suppose to provide reasons.

An RTI application will not solve your problem. It will be a potent tool to take your case with higher authorities.

In case you are not satisfied with the response or haven't got one in 30 days, you can appeal to the I-T Commissioner or Chief Commissioner.

You should give a copy of the application filed with the assessing officer, saying you have fulfilled all the rules as per the Act and rules and have not received any reply after 30 days of filing the application or the information received was incomplete/misleading/wrong. You can also mention any other communication with the officer.

Name, designation, official address and contact number of the officer(s) of the Income Tax Department supposed to process the refund claim

Ditto on officer(s) with whom my refund is pending and why

Date since the matter/file is pending with the said officer

Reason for delay in making my refund

Certified copies of instructions from higher or other competent authority which has instructed the assessing or any other officer to delay the refund or excess income tax paid by me in the return under reference

Name, official address and telephone number of the higher officer with whom a first appeal will lie under Section 19(1) of the RTI Act, 2005

Popular posts from this blog

Mutual Fund Review: Taurus Tax Shield

    Taurus Tax Shield has seen a turnaround in performance since 2007, but still remains a volatile offering… The fund has seen a turnaround in its performance since 2007 and has delivered impressively during market rallies since then. The portfolio is also more diversified. It contained its downfall to an average level in 2008 but is still one of the most volatile offerings in this category. Bold investors can look at this fund.   Strategy The fund manager invests across the market capitalisation and sectors. The selection of stocks is made on the basis of long-term business prospects and value creation. Fund Insight Launched in March 1996, the fund was a laggard with just two annual outperformances. Concentrated stock bets and high exposure to mid and small caps led to it being hit harder during market downturns. The number of stocks in the portfolio never exceeded 20 and it was not rare to see the top 5 holdings account for around 60 per cent of the portfolio. After b...

AXIS Long Term Equity Fund - The Best Tax Saver Fund for 2016

  AXIS Long Term Equity Fund - Invest Online   History:   The open ended mutual fund was launched on December 21 in the year 2009. It is benchmarked against BSE 200 and managed by the fund manager JINESH GOPANI. Initially the scheme was called as Axis tax saver fund but later it was renamed as Axis long term equity fund with effect from September 2, 2011. Nature of investment: As far as asset allocation is concerned, 97.52% of the stocks are equity and 0.02% is debt based. The primary focus of the fund is to invest in diversified equity stocks that have higher growth potential. Total asset size of the fund is in the tune of 4,996 CRORE as of June 30, 2015. Performance: The performance of the fund for one year, 3 years and 5 years are 23.6%, 29.9% and 19.1 respectively which are far greater than 6.4%, 14% and 5.6% benchmark figures. It has also preformed fairly well against SBI magnum Tax Gain (G) and HDFC tax saver (G). The growth comparison is enumerated below;                        ...

IDFC Classic Equity Fund

Invest In Tax Saving Mutual Funds Online Download Tax Saving Mutual Fund Application Forms Buy Gold Mutual Funds Call 0 94 8300 8300 (India)   IDFC Classic Equity Fund IDFC Classic Equity is a large-cap equity fund which currently has assets under management worth Rs. 158.52 crore. It was launched in August 2005. The fund is benchmarked against the BSE-200 Index. Performance YTD 1-Year 3-Year 5-Year Since Inception IDFC Classic Equity 0.93 26.61 6.30 1.01 11.65 BSE 200 1.52 17.31 6.00 1.99 12.98 All figures in % as on January 31, 2013; Returns above one-year in CAGR terms ...

Health insurance guide - Part I

Insurance, by definition, is morbid. What if I die suddenly? What if my home caught fire? What if I had to undergo expensive medical treatment? What if something that I thought happened only to others befell me? Insurers, who work with large samples, calculate the probability of such an event and, hence, the possibility of them having to pay out a sum of money to mitigate, to the extent possible, the effects of that disaster. However, the possibility of you undergoing some kind of expensive medical treatment during your lifetime is far more likely than you dying suddenly or your house burning down. Given that costs at private healthcare facilities, where you are most likely to land up, is high, and, doubling every four years 10 months or so, the rest of your money life could easily go out of whack if you had to incur such expenses. Just 12 per cent of India's population is covered with some sort of health insurance. Pared to the bone, for a comparatively small price, health insu...

Use Mutual Fund SWPs for getting fixed payments

Invest In Tax Saving Mutual Funds Online Download Tax Saving Mutual Fund Application Forms Buy Gold Mutual Funds Call 0 94 8300 8300 (India)   Investors time withdrawals optimally to save on tax The systematic withdrawal plan, or SWP, could be called the lesser known cousin of the much talked about and publicised systematic investment plan (SIP). There's yet another cousin — the Systematic Transfer Plan ( STP ). In SIP, you invest a fixed sum of money at regular intervals (monthly/ quarterly) to buy some units of a mutual fund scheme. In SWP, as the name suggests, you do the opposite: You redeem some mutual fund units from your portfolio to get a fixed sum of money at regular intervals (monthly/quarterly/half year/yearly). In SIP, you get a higher numbers of units when the markets are down, and lesser in a buoyant market. In SWP, going by the product logic, you redeem higher number of units when the markets are do...
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now