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The income tax department has activated a feature on its tax return filing portal that allows tax-payers to view the status of their outstanding, petty and old tax demands. The eligible ones are being ‘extinguished’. Tapati Ghose, Partner, Deloitte India gives an insight into the facility, areas that need further clarity and the complaint redressal process to be followed if your tax demand is not withdrawn. Tune in.
Concerns aired from multiple corners. A section of MSMEs worry that this may impact relations with suppliers and buyers, others say their systems are not ready for this provision.
Similarly, collections from the Monthly Income Scheme rose to nearly Rs 20,000 crore, compared to Rs 5,000 crore for the full fiscal year of 2023-24, stated a senior Finance Ministry official