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The revenue department will put in place within two years a mechanism to ensure that all returns are processed within 24 hours and refunds issued simultaneously, an official said.
The government has already sanctioned Rs 4,200 crore last month for upgradation of information technology infrastructure of Central Board of Direct Taxes (CBDT) for processing returns, refunds, faceless scrutiny and verification.
Now the system is being further upgraded so that refunds can be received within 24 hours.
When asked about the timeline for implementing 24-hour refund, Pandey told PTI:
While presenting the 2019-20 interim budget, Finance Minister Piyush Goyal had said the Income Tax Department now functions online and returns, assessments, refunds and queries are all undertaken online.
The minister said within next two years, almost all verification and assessment of returns selected for scrutiny will be done electronically through anonymised back office, manned by tax experts and officials, without any personal interface between taxpayers and tax officers.
Anonymous returns scrutiny through back office, Pandey said "will also bring in transparency and minimise any subjectivity or human interface".
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