Income Tax New System: The Finance Minister said that the funds of shell companies have been detected by using deep data and artificial intelligence tools. He said that in such a situation, when the evidence of funds going to shell companies is in front of you, then CBDT or CBIC cannot remain silent.
ITR Filing: If you also pay income tax every year, then this news is very important for you. Finance Minister Nirmala Sitharaman said that honest tax payers should be praised. Apart from this, strict action should be taken against those who break the rules. Speaking at a program, the Finance Minister said that there is evidence of some people misusing the Income Tax rules and claiming income tax refunds.
Funds of shell companies unearthed
The Finance Minister said that the funds of shell companies have been detected by using Deep Data and Artificial Intelligence Tools (AI Tools). He said that in such a situation, when the evidence of funds going to shell companies is in front of you, then CBDT or CBIC cannot remain silent. Action should be taken against such people so that the confidence of tax payers remains. Praising the CBDT, he said that I am happy to chase the wrongdoers.
400 crores are received as refund
Giving example, Finance Minister Sitharaman said, more than 300 companies are working in 50 square meter area with minimum infrastructure. But they get Rs 400 crore as refund. If the departments related to income tax are accused of tax terrorism, then it will remain. He said about the banking crisis in America that there is no danger for India. But if there is a recession, then it can affect the exports of different sectors.
Applications should be processed on time
Earlier, Finance Minister Nirmala Sitharaman said that CBDT should take timely action on all the applications of taxpayers. The Finance Minister said that a time limit should be fixed for disposal of applications. While expanding its CBDT, efforts should be made to make taxpayers aware. During the conversation, he insisted on increasing the number of taxpayers.
