Income Tax Department has made this special plan regarding income tax refund..

There is great news for taxpayers. The Income Tax Department has made a big plan regarding tax refund. The interim action plan of the Income Tax Department is to close the pending tax refund cases by April 30.

What is the plan of the Income Tax Department?
There are still many taxpayers whose tax refund of the previous assessment year is stuck. The refund process has not been done yet after filing the tax return. However, the department plans to settle the remaining pending refund cases by April 30. During this time, the department will have to complete the investigation of the refund and make the refund payment in April. The department has set a target to dispose of e-redressal cases by May 5.

Processing will speed up
Apart from this, the department plans to share information with agencies like CBI, ED, SEBI and SFIO by April 30. Information about applications received till 31st March will have to be given by 30th April. After this, information on applications received after April 1 will have to be shared within 15 days. In cases where the penalty has been confirmed by ITAT, processing will take place till June 30.

Besides, the aim is also to accelerate the matters of international taxation and transfer pricing. Each AO (Assessing Officer) will identify the top 30 TDS non-filers by June 30.