Deduction of Tax at source - Income Tax deduction from salaries during the Financial year -2015-16 under Section 192 of the Income Tax Act,1961

 Deduction of Tax at source - Income Tax deduction from salaries during the Financial year -2015-16 under Section 192 of the Income Tax Act,1961.

GOVERNMENT OF INDIA (Bharat Sarkar)

MINISTRY OF RAILWAYS (RAIL MANTRALAYA)

(RAILWAY BOARD)

No. F(X)I-2015/23/2

New Delhi, dated: 04.01.2016

As per Standard List I,II,III

Sub.: Deduction of Tax at source - Income Tax deduction from salaries during the Financial year -2015-16 under Section 192 of the Income Tax Act,1961.

Copy of Cicular No.20/2015 {(F. No. 275/192/2015-IT(B)} dated 02.12.2015 issued by Ministry of Finance (Department of Revenue) Central Board of Direct Taxes,on the above noted subject are enclosed for information and guidance.

2. It is further advised that in case more copies of the said Circular are required, these may be obtained from the website of Income Tax Department- www.incometaxindia.gov.in/communications/circular/circular20-2015.pdf.

3. please acknowledge recepit.

sd/-

(Niraj Kumar)

Director,Finance (Exp.)-I

Railway Board

Click Download the Original Order

Issue of Income Tax Refunds of Smaller Amounts

Issue of Income Tax Refunds of Smaller Amounts

In an initiative to reduce taxpayer grievances and enhance the taxpayer satisfaction, the Central Board of Direct Taxes had issued instructions to Central Processing Center (CPC), Bengaluru and the field officers in December, 2015 to issue refunds of amounts less than Rs.50,000/- expeditiously.

As a result of the special drive to issue smaller refunds, 18,28,627 refunds below Rs.50,000/- involving a sum of Rs.1,793 crore have been issued between 1st December, 2015 and 10th January, 2016. These refunds relate to Assessment years 2013-14 to 2015-16.

In order to further expedite the process of issue of small refunds, CBDT has also directed CPC-Bengaluru and the field units that refunds up to Rs.5,000/-, and refunds in cases where outstanding arrears are up to Rs.5,000/- may be issued without any adjustment of outstanding arrears. Office Memorandum F. No. 312/109/2015-OT dated 14th January 2016, conveying these directions of CBDT is available on the website of the Department www.incometaxindia.gov.in.