Cbdt To It Dept

CBDT issues FY25 interim action plan to ensure quick disposal of appeals

The income tax department has come out with an interim action plan for 2024-25 fiscal year, which include identification of potential cases of prosecution, wherein there is short-payment of TDS and faster disposal of appeals. The action plan also stipulates timeline for approval of refunds, identification of cases where seized assets are due for release and release the same by June 30, 2024. It also called for finalisation of compounding proposals pending as on March 31, 2024, and disposal of at least 150 appeals by June 30. Priority should be given to disposal of the appeals filed prior to April 1, 2020, followed by disposal of appeals filed after April 1, 2020, it said. AKM Global, Partner- Tax, Sandeep Sehgal said the Central Board of Direct Taxes (CBDT) has unveiled its interim action plan for FY 2024-25, marking a significant stride towards enhancing tax administration efficiency. Immediate measures have been initiated to address grievances through e-Nivaran and CPGRAM platfo

Tax evasion: 89 high-value foreign remittances come under I-T scanner

The Central Board of Direct Taxes (CBDT), the top direct tax body, has directed the officers concerned to initiate verification and send notices to those behind these transactions on March 28

Taxing times: Businesses face tax heat over deductions claimed for cess

CBDT tells I-T officials to nudge entities; move could help garner over Rs 5,000 cr

CBDT proposes common ITR with focus on crypto assets declaration

New return to also seeks details on foreign equity and debt held by resident Indians; much more exhaustive list for NRIs

CBDT directs IT dept to hold grievance redressal fortnight in June

The delay in giving effect to an appeal and passing rectification orders is the biggest source of grievance against the department