Saturday, August 1, 2015

7 quick ways to get refund

BENGALURU: With the due date approaching fast to file income tax returns, many of us would have calculated our taxes and would expect a refund from the IT department. The refund may be due to a higher Tax deducted at source (TDS). Many times taxpayer’s don’t get their Income Tax refund on time and they curse the IT Department for the delays. It has always been observed that in majority of the cases, the mistakes are on the part of taxpayers themselves, according toyahoo.com.

Here are some tips to ensure that you get the income tax refunds processed as fast as possible.

Posting Of ITR-V within 120 Days of Online Filing:
Once you have filed your returns online, either you have to sign the form digitally or you need to take a print of the ITR-V and need to sign it and post the same via normal or speed post to Cooperative Patent Classification (CPC) office in Bangalore. The tax return will not be considered as filed until the ITR-V reaches the CPC. Hence it is really important to do this step as soon as possible to expect a quick refund.

Permanent Address Is A Must:
Permanent Address is required in case anyone is opting for refunds via traditional cheque method. Many of us change our locations frequently due to our work requirements and hence it’s very important to mention the correct permanent address to which the cheque can be couriered. This would avoid the cheque being returned back and hence the refunds can be credited immediately once the cheque is received

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