Millennium Post

CBDT paid Rs 42,903 crore interest on tax refunds

The tax department has incurred an expenditure of Rs 42,903 crore on interest payments on refunds during the 6-year period ended 2013-14 without <g data-gr-id="36">approval</g> of Parliament, official auditor CAG said on Tuesday.

The Comptroller and Auditor General (CAG), in its report, said as in the past, the Budget for 2013-14 made no provision for interest on refunds and an expenditure on interest on refunds amounting to Rs 6,598 crore was incurred by CBDT, in contravention of provisions of the Constitution. 

“Expenditure of Rs 42,903 crore on interest payments had been incurred over a period of last six years (ending 2013-14) without obtaining approval of Parliament through necessary appropriation,” the CAG report titled ‘Accounts of the Union Government’ said. 
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