The Cabinet has given its “approval to expenditure sanction of Rs 4,241.97 crore for Integrated E-filing and Centralised Processing Centre 2.0 Project of the Income Tax Department”.
Integrated E-filing and Centralised Processing Center 2.0 Project
- Faster and accurate o tcomes for taxpayer.
- First time right approach.
- Enhancing user experience at all stages.
- Improving taxpayer awareness and education through continuous engagement.
- Promoting voluntary tax compliance.
- Managing outstanding demand.
- The decision to implement the advance tax filing system was taken to bring transparency and accountability besides faster processing of returns and issue of refunds to the taxpayers’ bank account directly without any interface with the Income Tax Department. As an added advantage the system can aid in promoting voluntary tax compliance and managing outstanding demand due to automation.
- The project would aid in reducing the time it takes the department for processing returns to just 24 hours from 63 days. The project is also expected to reduce the rectification requests from the current 2% to 0.1% together with reducing the time taken to process rectification requests.