Income Tax News: Even if TDS (Tax Deduction at Source) has been taken from an individual’s income, the Income Tax Department will shortly send reminders to those who have not filed tax forms, according to Central Board of Direct Taxes (CBDT) Chairman Nitin Gupta. Gupta estimates that there are about 1.5 crore taxpayers in this category. Nevertheless, notice will only be given to taxpayers for whom specific information is available.
Quantifying the Quandary
Such individuals would be “a few thousand” in number. Incorrect information, mismatched return files, and other issues are being found in the data that the IT department has access to. In this, taxpayers are contacted to revise their returns if any information is missing. 51 lakh of these amended returns have brought in a total of Rs 4,600 crore for the Income Tax Department thus far, Gupta added.
Enhancing Taxpayer Services for a Smoother Experience
According to Gupta, ” our focus is on improving taxpayer services, which includes reducing the time for refund, providing updated returns or resolving major tax disputes.” He informed that CBDT has set up a Demand Management Center in Mysore, Karnataka which is focusing on tax disputes above Rs 1 crore.
Karnataka Centre’s National Role
Cases from all over India are now accepted in the Karnataka Centre, where Karnataka’s issues were formerly settled. The centre was established in 2022 and has resolved 250,000 instances of this kind. The budget includes an announcement that the outstanding small tax demand up to Rs 25,000 will be cancelled until the 2014–15 fiscal year. CBDT will release a notification to carry out this policy later.
Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER
