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    Question

    According to Union Budget 2023-24, consider the following statements regarding Income Tax:

    1. Average processing period reduced from 93 days in financial year 13-14 to 16 days now

    2. Tax payers’ portal received a maximum of 72 lakh returns in a day; processed more than 6.5 crore returns this year;

    3. 45 per cent of the returns were processed within 24 hours

    Which of the above statements is/are shows the positive impact on taxpayer convenience?

     

    A 1 and 2 only Correct Answer Incorrect Answer
    B 1 and 3 only Correct Answer Incorrect Answer
    C 2 and 3 only Correct Answer Incorrect Answer
    D 1, 2 and 3 Correct Answer Incorrect Answer
    E 3 only Correct Answer Incorrect Answer

    Solution

    It has been the constant endeavor of the Income Tax Department to improve Taxpayers Services by making compliance easy and smooth. Our taxpayers' portal received a maximum of 72 lakh returns in a day; processed more than 6.5 crore returns this year; average processing period reduced from 93 days in financial year 13-14 to 16 days now;  and 45 per cent of the returns were processed within 24 hours. We intend to further improve this, roll out a next-generation Common IT Return Form for taxpayer convenience, and also plan to strengthen the grievance redressal mechanism.

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