Income tax refund will be available soon and the seized properties will also be returned

If you pay tax then it is a matter of relief for you. The Income Tax Department will dispose of the appeals related to TDS payment and tax from the current financial year i.e. 2024-25 as soon as possible. With this you will also get income tax refund soon. The department is preparing an action plan for this, which will be implemented soon. The Central Board of Direct Taxes (CBDT) has asked the Income Tax Department to prepare an action plan by which possible tax-related issues are identified and resolved immediately. In this scheme, there will be a fixed time limit for returning the seized property. The department said that such properties will be returned by June 30, 2024. It aims to finalize pending compounding proposals by March 31, 2024, and dispose of at least 150 appeals by June 30.

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You can file a case before the Assessing Officer: Under the new decision of the Income Tax Department, taxpayers will now have to file an application for pending refund before the Assessing Officer. Processing of applications for nil/reduced TDS or TCS certificates under section 195/197/206C will be expedited. They will be resolved within a month of receipt of applications from April 1, 2024.

Priority for disposal of appeals filed before April 1, 2020: The department said that disposal of appeals filed before April 1, 2020 will be given priority. After this, appeals filed after April 1, 2020 will be disposed of. This decision is an important step towards increasing administrative efficiency. Immediate measures have been initiated for resolution of complaints through e-redressal and CPGRAMS platforms.

Source: INVC News

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