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Shocker! Tax refunds being diverted to fake accounts

April 8, 2009

But in Delhi the refund banker scheme is operational, so there is not a problem with refunds, sources added.

As per the refund banker scheme, the country's largest lender State Bank of India processes the refunds, sent by the Income-Tax department, and sends the refund intimation to the taxpayer.

All taxpayers, excluding corporate and a few others, are covered under the scheme. The scheme is in operation in some more cities like Patna, Bangalore, Chennai, Mumbai and Kolkata.

Also read: Mumbai, Delhi among world's 10 costliest cities

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