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The 164th anniversary of Income Tax Day was observed by Central Board of Direct Taxes (CBDT) and all its field offices across India today. The main function was held at the Plenary Hall, Vigyan Bhavan, New Delhi. Union Minister of Finance Corporate Affairs Smt. Nirmala Sitharaman presided over the event. Union Minister of State (Finance) Shri Pankaj Choudhury also graced the occasion with his presence. Shri Sanjay Malhotra, Secretary, Revenue and Shri Nitin Gupta, Chairman, CBDT, were also pres
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FAQ :
Union Minister of Finance & Corporate Affairs, Smt. Nirmala Sitharaman, presided over the 164th Income Tax Day celebrations.
The main function for the 164th Income Tax Day was held at the Plenary Hall, Vigyan Bhavan, New Delhi.
The Finance Minister praised the CBDT for its outstanding performance, specifically in the '3 R's': Return processing, Refund issue, and Redressal of grievances.
Tax collection has increased due to enhanced efficiency within the Department, systemic changes like pre-filling of forms and faceless assessment, and reforms introduced in the Finance Act 2023.
Technological initiatives include pre-filling of forms, instant PAN, faceless assessment, Annual Information Statement (AIS), E-verification, and updated returns.
The average processing time for income tax returns is now just 16 days, with over 42% processed in one day in the last fiscal year.
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