As per the chairman of Central Board of Direct Taxes (CBDT), Nitin Gupta, Income Tax Department will soon send notices to people who have not filed Income Tax Return (ITR). As per the reports, tax notices shall also be sent out to those, whose tax has been deducted at source. In simpler terms, if tax has been deducted, but the ITR has not been filed, then it may invite notice to such people.
The Raison d’être is the enhancement in services for taxpayers and the same ranges from reduction in refund time to update the tax returns or resolving tax disputes.
Management Centre resolving tax related disputes
Gupta added that a Demand Management Center has been setup by CBDT in Mysuru, which is primarily focusing on solving tax disputes of more than Rs 1 crore.
Under this, taxpayers can contact CA and officials to resolve these tax disputes. Highlighting that earlier it was only resolving the state specific issues, but now will resolve the issues of entire India.
Withdrawal of Outstanding Tax Demand Benefits One Crore Taxpayers
Finance Minister Nirmala Sitharaman, in the Interim Budget 2024, announced to withdraw the outstanding tax demand up to Rs 25,000. She said that there were many small, unverified, unresolved or disputed direct tax demands, out of which many dated back to 1962.
The withdrwal of the outstanding direct tax demand up to Rs 25,000 for the period up to the financial year 2009-10 and up to Rs 10,000 for the financial year 2010-11 to 2014-15 has been proposed by the finance minister.
From such a move, as many as one crore of taxpayers shall be benefitted.
