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Sunday, February 16, 2025

90% of taxpayers can choose new tax system by getting tax relief – India tv hindi

Income tax

Photo: File Income tax

Central Ravi Aggarwal, chairman of the Direct Taxes Board (CBDT), said on Sunday that more than 90% individual taxpayers can adopt new tax system after the budget announcement of not imposing tax on income up to Rs 12 lakh and changes in all tax slabs. Currently, this figure is about 75 percent. In an interview given to PTI-language after the budget, Aggarwal said that the government and the Income Tax Department’s Philosophy is to ensure the administration without interfering in the country. The CBDT chief said that procedures are not very complicated by providing their income to a common taxpayer. For this, he gave the example of simplified ITR-1, already filled income tax return, automatic calculation of tax deduction (TDS) at source.

ITR is easily filed in NTR

He also cited the new tax system (NTR), which has simple calculations for the taxpayer. In such a situation, he can file his ITR without the help of a professional. It does not allow any deduction or exemption like an old system. CBDT is the administrative body of the Income Tax Department under the Union Finance Ministry. Aggarwal admitted that there is always a scope for improvement to move forward and it is true in every field, including complex business structures.

90% taxpayer will choose New Tax Resetam

He said, “I would say that for the general taxpayer, things have been made to a large extent.” He said that with the announcements made in the budget in relation to income tax payment, more and more taxpayers in the coming time. Will be motivated to choose the option of arrangement (NTR). Aggarwal said, “If there is no 100 percent taxpayer, then from next year we will get 90 percent or perhaps more figures.” As per the current data, about 74-75 percent individual taxpayers have adopted NTR, Which the government brought a few years ago. He emphasized that the budget provisions related to income tax payment will not only benefit those who earn Rs 12 lakh annually, but will also benefit everyone.

Use of technology

Asked what the department will do to broaden the tax base, the CBDT chief said that he is using technology to elect AI, human intelligence and various figures electronically. He said, “We are getting information from various data sources, we are collecting that data and providing it to the taxpayer.” Aggarwal said that now more and more taxpayers of their various types of transactions Getting aware about and thus the tax base is increasing. The CBDT chief said that around 90,000 taxpayers claiming wrong or fake cuts last year filed a revised return and paid a tax of Rs 1,000 crore.

(With PTI/language input)

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(Tagstotranslate) New Tax System (T) Central Direct Tax Board (T) CBDT (T) Ravi Aggarwal (T) New Tax Systems (T) New Tax Regies (T) Nirmala Sitharaman (T) Tax Free Income (T) Budget 2025

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Brijesh Kumar
Brijesh Kumarhttp://Newstiger.in
Brijesh is dedicated to providing timely and trustworthy news, covering everything from politics to pop culture. Offering readers a thoughtful approach to the world around us, Brijesh ensures you never miss a crucial update

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