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CBDT CHAIRMAN: MASS SHIFT TO NEW TAX REGIME COULD PHASE OUT OLD ONE
The Business Guardian
|July 27, 2024
The increased ITR filings this year, surpassing last year's numbers, and the 66% adoption of the new tax regime highlight the government's successful simplification and automation efforts, expected to enhance compliance further
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During the current income tax return (ITR) filing season, about 66% of taxpayers have opted for the new regime, according to Central Board of Direct Taxes (CBDT) Chairman Ravi Agrawal. In a recent interview, Agrawal emphasized the government’s focus on simplifying tax processes, including ITR filing, to enhance compliance.
The strategy is evident in the increased number of ITRs filed this year. As of the previous day, the number of returns filed surpassed the same period last year by a significant margin. Last year, the 4 crore mark was crossed on July 25, whereas this year, it was reached on the night of July 22.
Cette histoire est tirée de l'édition July 27, 2024 de The Business Guardian.
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