Government Issues 1 Lakh Notices for Non-Filing of Income Tax Returns: FM Nirmala Sitharaman Reveals
During the 164th Income Tax Day, Union Finance Minister Nirmala Sitharaman revealed that the government has issued one lakh notices for non-filing of returns and income misrepresentation.
These notices were sent to individuals with income close to ₹50 lakh, and they are expected to be resolved by the end of the fiscal year.Addressing the event, the Central Board of Direct Taxes (CBDT) chairperson, Nitin Gupta, highlighted that over 4 crore income tax returns (ITRs) have been filed for the fiscal year 2022-23, with ongoing processing efforts.
However, he raised concerns about the shortage of manpower in the income tax department, requesting prompt approval of the cadre restructuring proposal from the Finance Minister.Remarkably, direct tax collections, including personal income tax and corporate tax, have seen a substantial increase of 17.67%, totaling ₹16.61 lakh crore during the 2022-23 fiscal year.
The CBDT chairperson attributed this growth to the hard work of their cadre, surpassing both budget and revised revenue estimates set by the government.The income tax department is dedicatedly following government guidelines for faster return processing and prompt refunds. Notably, the department has reduced ITR processing time to just 16 days, with over 42% of ITRs processed within a day during the last fiscal year, signifying improved efficiency in operations.