Govt relaxes income-tax refund norms

New Delhi: About 92 per cent of the income-tax refund claims for fiscal 2007-08 will be settled without the taxpayers needing to produce TDS certificates, as the government has relaxed the criteria in this regard. According to the relaxed criteria on settling the income-tax refunds for the last fiscal, for tax assessee whose tax is deducted up to Rs 5 lakh and who has filed refund claims up to Rs 25,000, TDS certificates like Form-16 or challans will not be verified.

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