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TMI BlogANALYSIS OF INCOME TAX REFUNDS DURIGN FIRST FORTNIGHT OF April 2011.X X X X Extracts X X X X X X X X Extracts X X X X ..... ANALYSIS OF INCOME TAX REFUNDS DURIGN FIRST FORTNIGHT OF April 2011. - By: - C.A. DEV KUMAR KOTHARI - Income Tax - Dated:- 18-4-2011 - - ANALYSIS OF INCOME TAX REFUNDS DURIGN FIRST FORTNIGHT OF April 2011. Communication from Chairman CBDT: Status of Income tax Refund issued from April 1 to 14, 2011 From the desk of Chairman, CBDT S.N. 35/April 15, 2011 CBDT compliments one all for their profound sincerity deep commitment in issuing record number of refunds in the first 14 days of April 2011 is confident that the remaining refunds would be issued by 20th April 2011. Status of refunds issued from April 1 to 14, 2011 RCC No. of Refunds Refund Amount in Crs Refunds entere ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d but not processed Refund amount entered but not processed (cr) DELHI 1,06,389 2,716 74,363 2,803 JAIPUR 42,226 49 16,477 144 BANGLORE 40,927 43 51,580 3,114 AHMEDABAD 39,918 51 21,884 328 CHENNAI 36,910 40 27,715 1,655 PUNE 34,220 32 57,820 636 PATIALA 28,155 25 12,103 212 HYDERABAD 27,313 281 40,740 989 KOLKATA 24,877 24 29,256 1,218 ROHTAK 23,483 22 26,160 301 MEERUT 20,916 19 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 34,488 370 BARODA 20,172 27 10,960 173 NAGPUR 19,766 20 9,325 114 MUMBAI 18,001 70 50,945 12,521 JODHPUR 16,629 15 16,420 170 MADURAI 16,491 17 10,381 97 BHOPAL 15,754 19 27,000 165 ALLAHABAD 12,244 13 6,858 59 RANCHI 11,919 11 11,644 170 NASIK 11,807 16 10,818 56 JABALPUR 10,904 11 31,791 175 VISHAKAPATANAM 9,578 12 12,429 1,176 LUCKNOW 8,623 8 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 15,423 246 COIMBATORE 8,608 12 3,361 46 SURAT 8,267 10 10,870 64 PATNA 7,644 8 10,860 56 AGRA 6,495 5 8,844 34 BHUBHNESWAR 6,268 6 24,099 514 KOLHAPUR 6,252 5 3,963 26 SHILONG 6,195 7 7,049 661 RAJKOT 4,361 4 12,329 73 COCHIN 4,048 4 14,317 179 AMRITSAR 3,653 3 6,978 63 KANPUR 3,196 2 9,870 41 TRIVANDRUM 1,379 1 22,526 114 JALANDHAR ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 231 0 8,431 55 Total 6,63,819 3,609 7,50,077 28,821 Most of the regions have done quite well. Few regions, especially Delhi, through meticulous planning effective management of resources have done exceedingly well. However, few regions continue to lag behind. All the CCITs CITs of these regions are once again advised to ensure to clear all refunds by April 20 2011. An analysis of the communication of the Chairman CBDT: Analysis on all India basis (based on above table): Number wise cases in which refund has been processed are 46% and unprocessed are 54% Amount wise cases in which refund has been processed are just 11.12%. Amount wise cases in whic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h refunds have not been processed are staggering 88.88% Average refunded per case is very low at Rs.54368/- Average of refunds entered but not processed per case is very high at Rs.3, 84,241/- This shows that in fact refund have been processed and actually granted in cases where refund amount was lower and refunds of larger amounts have not been processed. Market grapevine is that in many cases refunds have not been granted fully. Even amount of refund claimed which is duly supported by report in form 26AS have not been granted and refund of very lower amounts have been sent without giving any reason or intimation. Therefore, the tax payer is in dark as to how the amount of refund has been reduced substantially. From ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the table given above we find some analytical figures for all India and also for some important regions as follows: RCC 1. No. of Refunds 2. Refund Amount in Crs 3. Refunds entered but not processed 4. Refund amount entered but not processed (cr) 5. Total nos. of refunds 2+4= 6 Total amount of refunds found Rs. Cr. 3+5= 7 Refunded Percent of total numbers Amount refunded as percentage of total Total 6,63,819 3,609 7,50,077 28,821 1413896 32430 46% 11.12% ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... DELHI 1,06,389 2,716 74,363 2,803 180752 5519 58.85% 49.21% BANGLORE 40,927 43 51,580 3,114 92507 3157 44.24% 1.36% KOLKATA 24,877 24 29,256 1,218 54133 1242 45.95% 1.93% CHENNAI 36,910 40 27,715 1,655 64625 1695 57.11% 2.36% MUMBAI 18,001 70 50,945 12,521 68946 12591 26.11% 0.56% MEERUT 20,916 19 34,488 370 55404 389 37.75% 5.13% RA ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... NCHI 11,919 11 11,644 170 23563 181 50.58% 6.07% VISHAKAPATANAM 9,578 12 12,429 1,176 22007 1188 43.52% 1.01% BHUBHNESWAR 6,268 6 24,099 514 30367 520 20.64% 1.15% COCHIN 4,048 4 14,317 179 18365 183 22.04% 2.19% SHILONG 6,195 7 7,049 661 13244 667 46.77% 1.04% We find that Delhi has done best in terms of proportionate numbers as well as amount refunded. In many regions the amount processed / refunded is very low even le ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ss than 2% of total amount found refundable. Lower processing or actual refunds can be considered as an indication that everything is not in good health and there may be fiscal pressure due to higher refunds caused because of high TDS, forced tax collection etc. - - Scholarly articles for knowledge sharing authors experts professionals Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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