In the tax seminar, officials attribute these intense reforms for the widespread dependence of digital infrastructure.
“The large number of returns and the decline in processing time is mainly due to improvements such as end-to-end online fileing, faceless assessment, pre-filled return, automatic return process, real-time TDs adjustment and online complaints,” in this case. These measures not only speed up the return process, but also improves accuracy and transparency in handling income tax returns.
Reflects a refund of increasing formality
Statistics have shown that in the last financial year, there was 17.6% of the total tax collection, which has increased significantly compared to 5.5% in 1-3.
“This is a reflection of the economy more formality and the increasing volume of tax net,” TOI sources said.
Examples of sending more money have become more common when taxpayers’ support with advance tax payments and solid access to TDS.
“The increasing volume and share of return is not just a statistical effect but a meaningful signal of systemic maturity. It proves that India’s tax system is now firmly linked to the principles of efficiency, transparency and taxpayer facilities,” the official told the newspaper.
This trend is still going on in the current financial year. Despite the relatively modest growth in the total direct tax collection, only 2.5% of the year by July 10-year-olds has increased by 38%, which has been temporarily weighed in the net collection.
Shifts from the old practice of holding
In the past, the government will often reduce the return of return to ensure that the statistics of the net collection of the government can remain strong.
However, the MODI administration has passed away from this point of view, recognizing that holding returns disrupts the cash flow for business and homes and eventually moistening the overall economic activity, according to the TOI report.
Continuing the process of immediate refund, the government indicates that tax compliance and taxpayers’ trust will be more reinforced, even if it comes to the nearest period of net revenue growth.
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