Quick Summary
In a significant development, Nitin Gupta, Chairman of the Central Board of Direct Taxation (CBDT), has announced that the process of tax return filing has been streamlined, reducing the turnaround time to just 10 days. Gupta shared this information, stating that an impressive 22% of returns were processed within one day, coupled with the issuance of refunds. Speaking to NDTV, he expressed the boards commitment to further expedite the process and enhance taxpayer-friendliness. Gupta reported
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FAQ :
The Chairman of the CBDT, Nitin Gupta, has announced that tax returns are now being processed with a turnaround time of just 10 days.
An impressive 22% of tax returns are processed within one day, with refunds also being issued during this period.
The CBDT is committed to further expediting the tax return process and enhancing taxpayer-friendliness through initiatives like faceless appeal and assessment.
Refunds totaling Rs 2.78 lakh crore have been segregated during the current fiscal year.
No, the interim budget 2024 maintained the existing direct and indirect tax structures.
The tax receipts target has been set at Rs 26.02 lakh crore.
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