JOIN US"The Income Tax department has improved its tax refund rate and Rs 72,000 crore have been refunded to tax payers in the fiscal year 2009-10 against Rs 57,000 in the previous financial year," Chandra said addressing the 63rd outgoing batch of Indian Revenue Services (IRS), here yesterday at the National Academy of Direct Taxes.
Chandra said the tax collection has gone up rapidly and this fiscal which ended on March 31, 2011, the booty was to the tune of Rs 4.50 lakh crore against a target of Rs 4.46 lakh crore which was revised from Rs 4.30 lakh crore.
The issue of delayed refunds was not a healty trend and was tarnishing the department's image. Hence, it has cleared 78,00,000 refund cases in the process, he claimed. Union Minister of State for Railways K H Munniappa's son Narsimha Raju was among the passouts.
Deepika Mohan was awarded the coveted Finance Minister's Gold Medal for best all round performance. There were 123 officer-trainees from 23 different states. Uttar Pradesh topped the list with the highest number of 26 trainees, followed by Tamil Nadu (17), Bihar (14) and Maharashtra (8).