Finance
DoggfatherI-T Dept Aims to Wrap Up Over 200K Appeals This Year
Yo, the I-T squad's on a roll, lookin' to clear over 2 lakh CIT appeals this year, buildin' off last year's 1.72 lakh. They already knocked out 1.65 lakh by January 20, keepin' it smooth. With 5.4 lakh cases hangin' in FY25, they droppin' penalties and makin' tax life easier for the g's. Updated returns? A cool 1.22 crore filed, so get your game tight, ya dig?
few days ago | Monika Yadav
Quick rundown
1.Income tax department targets 2 lakh CIT(A) case disposals this fiscal.
2.Penalty proceedings now combined with assessments to reduce litigation.
3.Updated return facility boosts compliance with 1.22 crore filings.
4.Safe harbour rules expanded for IT/ITES sector, boosting tax certainty.
5.System-driven safe harbour approvals enhance investment predictability.
