Interim Budget India 2019: Income Tax returns to be processed within 24 hours | Budget 2019 Update
The modi government in a major relief to the burden of tax-payers announced that the Income Tax Returns will be processed within 24 hours and the returns will be paid immediately.
A big relief for taxpayers
The key highlights for filing income tax return after announcement of Interim budget of Modi Government
Income Tax returns to be processed within 24 hours and returns will be paid immediately.
Within nearly two years, almost all assessment and verification of IT returns will be done electronically by an anonymised tax system without any intervention by officials.
If the automation of tax filing is completed as assured by Modi Government in the finance budget 2019-2020 within next two year, it will help simplify the process of return filing, ease the burden of tax-payers and cut the commission of middlemen.
The government also needs to educate the taxpayers about simplicity of filing the return online.