He mentioned that greater than part of those ITRs were processed resulting in 80 lakh refunds until now.
The “shortage of manpower at every level was impeding our efforts to give even better results”, Gupta mentioned and suggested Union Finance Minister Nirmala Sitharaman for a “quick approval” of the dept’s cadre restructuring proposal.
The chairperson was once talking at an tournament held right here to mark the 164th Income Tax Day the place Sitharaman was once the manager visitor. The Central Board of Direct Taxes (CBDT) is the executive authority for the Income Tax Department,
Gupta mentioned direct tax assortment, which contains non-public source of revenue tax and company tax amongst others, has been making “remarkable” strides as the dept accumulated greater than Rs 16.61 lakh crore in taxes throughout the 2022-23 fiscal which was once 17.67 in step with cent upper than the previous 12 months.
This assortment “surpassed” each the funds and revised estimates set through the federal government for earnings collections underneath the direct taxes class and is a testomony to the exhausting paintings of the cadre, he mentioned.
“We are currently growing at the rate of 16 per cent (for direct tax collection) over the last year. We had 7.78 crore income tax returns filed during the 2022-23 financial year and this was an increase of 6.5 per cent over the previous year,” the CBDT head mentioned.
This 12 months, until now, greater than 4 crore ITRs have already been filed and that is 4 days previous than the remaining time, he mentioned, including out of those, about 7 in step with cent are new or first-time filers.
In the present 12 months, over 50 in step with cent of returns were processed already and greater than 80 lakh refunds were issued, Gupta added.
The time limit for submitting ITRs for various classes of taxpayers is July 31.
He mentioned the dept was once running at the pointers set through the finance minister of making sure “quicker processing of returns and speedy issue of refunds”.
“We have reduced ITR processing to just 16 days and more than 42 per cent of the ITRs were processed in one day during the last fiscal,” Gupta mentioned.
The CBDT chairperson mentioned the tax government have been “intensely monitoring” the grievances of the taxpayers.
Gupta sought Finance Minister Nirmala Sitharaman’s “indulgence” to deal with the “shortage of manpower at every level (of the department) which is impeding our efforts to give even better results”.
“To give a progressive tax administration, not only do we need to augment our infrastructure but also human capital. The quick approval of our cadre restructuring will be a useful step to achieve this,” he mentioned.