CBDT chief Nitin Gupta said that we have brought the facility to ‘update’ the returns. 56 lakh returns were ‘updated’ and tax of about Rs 4,600 crore was collected from them.
New Delhi. Central Board of Direct Taxes (CBDT) chief Nitin Gupta said the Income Tax Department has collected tax of about Rs 4,600 crore from 56 lakh ‘updated’ IT returns filed by taxpayers in the last two years. In an interview given to ‘PTI-Bhasha’ after the interim budget, he said that the IT department has set up a demand management center in Mysore, Karnataka. It is settling pending tax demands of more than Rs 1 crore.
Nitin Gupta said, “We are continuously improving services and creating a litigation free environment. We have introduced the facility to ‘update’ returns. 56 lakh returns were ‘updated’ and tax of about Rs 4,600 crore was collected from them.
Important announcement regarding disputed tax demands in the budget:
Under the interim Budget 2024-25 proposal, a total of 1.11 crore disputed tax demands worth Rs 3,500 crore will be withdrawn by 2014-15. These pending demands are in relation to income, wealth and gift taxes. Some of these demands are older than 1962. Overall, cases are pending at various forums regarding 2.68 crore tax demands involving Rs 35 lakh crore. Out of 2.68 crore demands, there are 2.1 crore demands whose value is less than Rs 25,000.
Gupta said that this step will benefit about 80 lakh taxpayers. He said, “We are settling small tax demands in that way (withdrawal of demands) and big tax demands we are settling separately (through the demand management centre). We believe that this will help us a lot. We will be able to deal with the demand in a more meaningful way.
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