Tax : CBDT Lays Down Norms for Quicker Tax Refunds

The CBDT (Central Board of Direct Taxes) issued guidelines for quicker income-tax refund of up to Rs5,000 in cases where the department wants to adjust the refund with a pending demand which has been contested by the assessee. The guidelines would help in the streamlining of the process of tax refunds. “Where the taxpayer has contested the demand, Central Processing Centre (CPC) would issue a reminder to the Assessing Officers about the contention of the taxpayer, asking them to either confirm or make appropriate changes, to the demand within 30 days,” the CBDT said in an office memorandum.

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Best & Worst Mutual Fund Schemes

The best# three and the worst three schemes over the past three years ranked by their quarterly rolling returns. Premium members get access to a more refined list of top schemes by logging in to Moneylife Smart Savers - savers.moneylife.in

 

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Yields up Last Fortnight

Bond yields have headed up in last fortnight. You can expect to get over 8.60% for AAA rated...

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