With the swift progress in banking, and the electronic connectivity as envisaged, it would become possible for the assessees to deposit the government dues in any designated bank by using a simple pay-in slip as in the case of bank deposit, and at a later stage, electronically by quoting the PAN. The elimination of the challan would pave the way for electronic settlement.
Discontinuance of advice system for income tax refund orders At present, Income-tax refund orders advices for value upto Rs.999 are sent directly to assessees while advices for Rs.1,000 and above are forwarded to payee banks. The advices are not received promptly resulting in the return of refund orders causing inconvenience to assessees.