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Union Minister for Finance Corporate Affairs Smt. Nirmala Sitharaman chaired a periodic review meeting with Central Board of Direct Taxes (CBDT). The review meeting was attended by the Revenue Secretary; Chairman, CBDT; and all the Members of CBDT. Inter alia, the Finance Minister reviewed the f
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FAQ :
Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman, chaired the review meeting.
The meeting reviewed efforts to increase the taxpayer base, pending disciplinary proceedings, and the disposal of applications for condonation of delay and exemptions.
The introduction of new data sources, such as Dividend and Interest, Securities, Mutual Funds, and GSTN information, has led to an 1118% increase in reported information, adding data for about 3 crore persons.
The increase in TDS codes from 36 to 65 has led to a rise in total reported transactions from 70 crore in FY 2015-16 to 144 crore in FY 2021-22, almost doubling the number of unique deductees.
The Personal Income Tax (PIT) to GDP ratio has steadily increased from 2.11 in FY 2014-15 to 2.94 in FY 2021-22.
The Finance Minister directed the CBDT to minimise administrative and procedural delays and take prompt action in finalising disciplinary proceedings against employees/officers.
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