Infosys is implementing next-gen I-T filing system: All you need to know

The move will help in bringing down the income tax return (ITR) processing time to one day and hence speed up refunds

As the IT services major Infosys has been appointed to implement the next-generation system for processing income tax return filings after the Union Cabinet sanctioned an estimated Rs 4,241.97 crore for the project, here are a few important things to know about this new IT-filing system.
 

• PM Narendra Modi-led Cabinet gave its approval to expenditure the sanction of Rs 4,241.97 crore for Integrated E-filing and Centralised Processing Centre 2.0 Project of the Income Tax department.

• By 2020, the income tax filing system will not be managed by the government, but Infosys professionals. The project is expected to be completed in 18