Latest news with #PrCCsIT
New Indian Express
15 hours ago
- Business
- New Indian Express
FM asks tax department to timely process refunds
Finance Minister Nirmala Sitharaman has asked the tax department to timely process tax refunds and proactively resolve taxpayers grievances. She has asked tax officers to especially monitor these areas, and adopt a taxpayer-centric approach to improve service delivery and transparency. The finance minister was chairing the conclave of Principal Chief Commissioners of Income-tax (PrCCsIT) in New Delhi on Monday. During the conclave, the FM directed all Principal Chief Commissioners of Income Tax to prioritise and accelerate the disposal of disputed tax demands that are currently pending before the faceless appellate authorities. This is aimed at reducing litigation backlog and ensuring timely resolution, thereby enhancing taxpayer trust in the system. The Finance Minister also instructed that all departmental appeals falling below the revised monetary thresholds as notified in recent policy changes be identified and withdrawn within a period of three months. Sitharaman urged the officers to ensure that tax compliance processes are made simpler, more transparent, and taxpayer-friendly. She highlighted the importance of a structured, process-driven approach to compliance, which, over time, would lead to both greater ease for taxpayers and improved voluntary compliance across the board. During the meeting, the finance minister was that there has been a 58% growth in refunds issued so far in FY26 vis-à-vis refunds issued in the previous year -- Rs 23,376 crore refunds issued on account of Order Giving Effects and Rs 10,496 CR refunds issued on rectification so far in FY26 She was also told that out of the total 160,229 grievances for FY26, 1,31,844 grievances were resolved (up to 17 June 2025), leading to 82.28% disposal. The meeting was also attended by Arvind Shrivastava, Secretary, Department of Revenue, Ravi Agarwal, chairman CBDT; members of CBDT and senior officers of CBDT.
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Business Standard
16 hours ago
- Business
- Business Standard
FM flags tax appeals backlog, tells CBDT to fast-track resolution
Finance Minister (FM) Nirmala Sitharaman on Monday directed the Income Tax department to accelerate the disposal of over 5,70,000 pending tax appeals and enhance taxpayer service delivery. Chairing a conclave of Principal Chief Commissioners of Income Tax (PrCCsIT), the FM emphasised the need to reduce litigation and improve trust in the tax administration system, according to an official statement. The Finance Minister called for time-bound disposal of disputed tax demands pending before faceless appellate authorities and instructed that all departmental appeals falling below the revised monetary thresholds be withdrawn within three months. According to the Union Budget 2024-25 announcements, the monetary limits for departmental appeals were increased from ₹50 lakh to ₹60 lakh for the Income Tax Appellate Tribunal (ITAT), from ₹1 crore to ₹2 crore for High Courts, and from ₹2 crore to ₹5 crore for the Supreme Court. Central Board of Direct Taxes (CBDT) officials informed that following this change, 4,605 cases were withdrawn in 2024, and another 3,120 were not filed due to the enhanced thresholds. In FY 2025-26, the department aims to dispose of more than 2,25,000 appeals, involving tax demands exceeding ₹10 trillion. On the taxpayer services front, the Finance Minister reviewed the status of grievance redressal and refund issuance. According to the release, 1,31,844 grievances out of 1,60,229 received through CPGRAMS and e-Nivaran platforms were resolved as of June 17, reflecting a disposal rate of 82.28 per cent. Refunds worth ₹23,376 crore were issued based on Orders Giving Effect, and ₹10,496 crore through rectification in FY 2025-26 so far. This marks a 58.04 per cent increase compared to the same period last year, said the release.
