Income Tax Rates: Taxpayers can get big relief! Finance Minister Nirmala Sitharaman gave this indication

August 21, 2024

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ITR: Most taxpayers are getting their returns filed by non-professionals. These people are trapping taxpayers by luring them with the promise of a higher refund. In such cases, the chances of the taxpayer getting into legal trouble increases. Income Tax Department: If you have got your ITR filed by people who are not professionals in the greed of getting a big refund, then you are going to get into trouble. In the last few years, cases of employees getting refunds by showing fake donation receipts, expenses etc. in their returns have been caught in many states. After this, strictness has started in the matter of refund across the country. According to tax experts, most taxpayers are getting their returns filed by non-professionals. These people are trapping taxpayers by luring them with a big refund. In such cases, the possibility of the taxpayer getting into legal trouble increases. Close scrutiny of taxpayers begins The Income Tax Department has decided to conduct a strict investigation of large refund claims made fraudulently. Under this, monitoring of such employed people who are filing ITR collectively from a single agency will increase. The Central Board of Direct Taxes (CBDT) has issued new guidelines (SOP) in this regard. According to these instructions, suspicious returns and refunds will be marked using Artificial Intelligence (AI). The department has started a close scrutiny of those taxpayers whose returns came under scrutiny in the last 9 years. This also includes employed people who have filed returns collectively from a non-professional agency. The refund of many of these taxpayers is stuck for months. Department can recover refund It is being said that this step is likely to cause refund to get stuck this year. Experts say that the Income Tax Department has the right to recover the refund of the last four years if the refund claim made by a taxpayer is found to be wrong. Check refund status like this Go to the Income Tax Department portal (www.incometax.gov.in). Log in by entering user ID (PAN number) and password Click on My Account and open Refund/Demand Status. Select Income Tax Returns here. Now click on the receipt number. After this a new page will open, where all the information related to ITR will be visible. What to do in case of delay First of all check your e-mail. Income Tax Department sends refund or any kind of additional information or notice through e-mail. If the ITR status shows that the refund claim has been rejected, taxpayers can request for re-issue of refund. If the status shows that the claim is pending, they can contact the e-filing portal/assessing officer and request for early settlement. If there is still a delay.... Contact Income Tax Department: You can contact the Income Tax Department by calling their helpline 1800-103-4455 or email them at ask@incometax.gov.in. They can assist you with the status of your refund. — ITR: Most taxpayers are getting their returns filed by non-professionals. These people are trapping taxpayers by luring them with the promise of a higher refund. In such cases, the chances of the taxpayer getting into legal trouble increases. **Income Tax Department:** If you have got your ITR filed by people who are not professionals in the greed of getting a big refund, then you are going to get into trouble. In the last few years, cases of employees getting refunds by showing fake donation receipts, expenses etc. in their returns have been caught in many states. After this, strictness has started in the matter of refund across the country. According to tax experts, most taxpayers are getting their returns filed by non-professionals. These people are trapping taxpayers by luring them with a big refund. In such cases, the possibility of the taxpayer getting into legal trouble increases. **Close scrutiny of taxpayers begins** The Income Tax Department has decided to conduct a strict investigation of large refund claims made fraudulently. Under this, monitoring of such employed people who are filing ITR collectively from a single agency will increase. The Central Board of Direct Taxes (CBDT) has issued new guidelines (SOP) in this regard. According to these instructions, suspicious returns and refunds will be marked using Artificial Intelligence (AI). The department has started a close scrutiny of those taxpayers whose returns came under scrutiny in the last 9 years. This also includes employed people who have filed returns collectively from a non-professional agency. The refund of many of these taxpayers is stuck for months. **Department can recover refund** It is being said that this step is likely to cause refund to get stuck this year. Experts say that the Income Tax Department has the right to recover the refund of the last four years if the refund claim made by a taxpayer is found to be wrong. **Check refund status like this** Go to the Income Tax Department portal (www.incometax.gov.in). Log in by entering user ID (PAN number) and password Click on My Account and open Refund/Demand Status. Select Income Tax Returns here. Now click on the receipt number. After this a new page will open, where all the information related to ITR will be visible. **What to do in case of delay** First of all check your e-mail. Income Tax Department sends refund or any kind of additional information or notice through e-mail. If the ITR status shows that the refund claim has been rejected, taxpayers can request for re-issue of refund. If the status shows that the claim is pending, they can contact the e-filing portal/assessing officer and request for early settlement. **If there is still a delay....** Contact Income Tax Department: You can contact the Income Tax Department by calling their helpline 1800-103-4455 or email them at ask@incometax.gov.in. They can assist you with the status of your refund.

Income Tax: The Finance Minister said that the popularity of the new Income Tax regime has increased and 72 percent of taxpayers have filed ITR under this regime.

Income Tax Day: Finance Minister Nirmala Sitharaman has said that we have to ensure that the income tax rate continues to decrease and the tax system becomes simple, this will help in increasing the number of taxpayers. The Finance Minister said, in the next six months, the new tax code or new Income Tax Act will be in front of us which will be very simple and taxpayers will be able to understand its language easily. According to the Finance Minister, the CBDT committee is working on it.

72% taxpayers adopted the new tax regime

Addressing the program organized on the 165th anniversary of Income Tax, the Finance Minister said about the new income tax regime, we brought it and in just two years, 72 percent taxpayers have adopted the new income tax regime. Taxpayers are finding the new regime very attractive. The Finance Minister said, questions were being raised about the new income tax regime but 72 percent of taxpayers have chosen the new income tax regime for filing income tax returns in which tax rates are low, there are no deductions and there is no compliance headache.

60 lakh new taxpayers

The Finance Minister said, many people say why there is no deduction in the new regime like the old tax regime? She said, I want to say that as a new regime, we are giving options to the taxpayers, we are not forcing anyone to adopt it. Taxpayers should adopt the regime they find suitable. Nirmala Sitharaman said, we have to continuously ensure that the income tax rate comes down and the tax system becomes simple. This will help in increasing the number of taxpayers as we have seen due to the new income tax regime. The Finance Minister said, this year there has been an increase in the number of taxpayers filing income tax returns. There are 59.57 lakh taxpayers who have filed income tax returns for the first time.

The Finance Minister advised the officials to be friendly

The Finance Minister has asked the tax department and its officials to be faceless, fair and friendly with the taxpayers. He has asked to make the language of the notices sent by the department to the taxpayers simple and non-technical so that the taxpayers can understand them easily and they do not have to hire a lawyer to answer the tax department. The Finance Minister said that we should talk to our taxpayers in very simple language.

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