By Reuters Staff
1 Min Read
FILE PHOTO: An India Rupee note is seen in this illustration photo June 1, 2017. REUTERS/Thomas White/Illustration/File photo
NEW DELHI (Reuters) - India’s federal net direct tax receipts, mainly comprising corporate and individual income tax, were 9.45 trillion rupees ($126.33 billion) for the fiscal year ending on March 31, surpassing the revised budget target, a government official said.
“Net direct tax collections for the financial year 2020/21 have shown an upswing, despite the inherent challenges brought on by the COVID-19 pandemic,” Pramod Chandra Mody, head of the Central Board of Direct Taxes told reporters on Friday in virtual briefing.
‘Over 80% legacy I-T cases resolved through Faceless Assessment Scheme’
April 07, 2021
As many as 3,130 tax personnel, including 600 IT officers, are involved in implementing the faceless e-assessment scheme - Getty Images/iStockphoto
As many as 3,130 tax personnel, including 600 IT officers, are involved in implementing the faceless e-assessment scheme - Getty Images/iStockphoto×
The Income Tax Department has claimed that over 80 per cent of legacy cases and over 43 per cent of new cases have been resolved under the Faceless Assessment Scheme.
“Right from obtaining your PAN to solving dispute and settlements, everything is electronic end-to-end. One does not have to move out of his home or office, and can respond and get everything at his/her doorstep,” Pramod Chandra Mody, Chairman, Central Board of Direct Taxes (CBDT) told
‘Cairn dispute can’t be settled via Vivad se Viswas scheme’
April 06, 2021
Pramod Chandra Mody, Chairman, Central Board of Direct Taxes - Bijoy Ghosh×
Says scheme receives over 1.48 lakh declarations and over ₹54,000 crore
The tax dispute with Cairn Energy Plc cannot be brought under the Vivad se Viswas scheme, a senior Income Tax Department official has clarified.
“The scheme is closed now. Whosoever wanted to avail himeself of the scheme, has done so,” Pramod Chandra Mody, Chairman, Central Board of Direct Taxes (CBDT), told
BusinessLine.
The last date to make a declaration under the scheme was March 31, while payment of disputed tax without any additional amount (as prescribed under the scheme) can be made till April 30. The Department has received over ₹54,000 crore under the scheme as payment against disputed tax.
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