38% Increase In Collection Of Gross Tax This Year : CBDT Chairman

New Delhi: Gross tax collections this year are 38 percent higher when compared with the previous year, (CBDT) Chairman Nitin Gupta said on Friday.

Talking to ANI, Gupta said tax refunds of Rs 93,000 crore have been released this year as compared to Rs 52,000 crore last year. He said the government has taken a number of measures to make the tax system hassle-free.

“We are trying to make ‘Faceless Scheme’ a success. We have issued Standard Operating Procedure for our officers. We are making video-conference facilities available to taxpayers. We have also formed 20 committees for the same, which will be monitored by CBDT,” Gupta said.

Raids, searches, surveys, and notices conducted by Income Tax authorities are always based on credible information, said Nitin Gupta, new Chairman of the Central Board of Direct Taxes (CBDT).

Gupta was appointed Chairman of CBDT, the apex body of the Income Tax Department on June 27, 2022.
“Our search or action is based on the credible information. When we get credible information that someone or any entity is evading tax, then it is our duty to take appropriate action,” Gupta told ANI in an exclusive Interview.

The Chairman said he was confident enough of achieving direct tax collection target set in Budget announced by Finance Minister Nirmala Sitharaman.

Gupta said that a target of Rs 14.20 lakh crores has been set in the Budget and the current trend of direct tax collections are very encouraging.

“So far we have got a net collection of about Rs 4.80 lakh crores. Our gross collection is 38 per cent more than last year. 31st July was the last date of Income Tax return filing. This time we have not extended the date.”

“As of today, about 6 crore returns have been filed and we have issued the refund amount to 68 per cent more than we did last year. Our effort is to issue the refund as early as possible. So far we have issued refund of Rs 93,000 crores against Rs 52,000 crores last year.”

He was hopeful that the direct tax collections will exceed the Budgeted target.

“The September collection figure would be a good indicator of the likely full year performance,” he added.
In reply to a question on income tax portal, Gupta said that the new income tax portal is working very smoothly.

He said that on July 31, 5.17 lakh returns were filed just between 5:00 and 6:00 PM. “This shows that our online portal was doing a good job for us. The experience of tax payers of return filing was very good.”
Talking about the faceless scheme, Gupta said, “We are constantly trying to make the scheme more assessee friendly. We have taken 3-4 initiatives, issued a detailed Standard Operating Procedure(SOP) for our officers. We have given an option to assesee for appearing through Video Conference virtually. We have also formed 20 committees which will be monitored by CBDT.”

Further, reacting to the Supreme Court’s decision on Benami Act, Gupta said, “We are studying and analyzing the decision given by the Supreme Court. Order has just come and we are in process to analyze it.”

(Except for the headline, this story has not been edited by HW News staff and is published from a syndicated feed.)

The post 38% Increase In Collection Of Gross Tax This Year : CBDT Chairman appeared first on HW News English.