Quick Summary
The Ministry of Finance hadconducted a meeting with Infosys, tax professionals and other stakeholders on 22nd June 2021.While appreciating the role of ICAI and its president Shri Jambusaria and the ICAIs positive contribution in giving shape to todays meeting, the Finance Minister complimented them for providing specific nuanced inputs lying between the intersection of technology and taxation. As such, the Finance Ministryhad asked ICAI to constitute a task force of 7 representatives to look
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FAQ :
The ICAI has been asked to form a team of 7 members to look into the technical glitches and issues being faced on the new Income Tax portal.
The meeting was chaired by Smt. Nirmala Sitharaman, the Hon'ble Minister of Finance & Corporate Affairs.
The new Income Tax portal was launched on June 7, 2021.
ICAI presented its analysis of the issues, and officials from CBDT and Infosys assured that the problems would be addressed and resolved at the earliest.
The utility for Tax Audit Report is expected to be available by the first week of July 2021.
The new portal aims to make tax compliance more taxpayer-friendly.
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