No Advice Notes to Banks for IT refunds less than Rs.25000/-
With a view to improve Taxpayers service, the CBDT has decided to discontinue the system of sending Advice Notes to the bank separately in cases of refunds up to Rs. 24,999/-. Under the new system, no Advice Note would be generated for refund orders up to an amount of Rs. 24,999/-. For refund orders of Rs. 25,000/- and above, one Advice Note would be made, which would be sent to the Main Branch of State Bank of India. One counterfoil of the refund cheque would continue to be retained by the assessing officer for all refunds issued by him regardless of the amount of refund. All refunds of Rs. 25,000/- and above will now be drawn on only the Main Branch of State Bank of India. The order branches in any station will handle refunds only up to Rs. 24,999/-.
INSTRUCTION NO. 1/2005, Dated : March 18, 2005 (CBDT)