• About us
  • Contact us
  • Our team
  • Terms of Service
Monday, August 11, 2025
Kashmir Images - Latest News Update
Epaper
  • TOP NEWS
  • CITY & TOWNS
  • LOCAL
  • BUSINESS
  • NATION
  • WORLD
  • SPORTS
  • OPINION
    • EDITORIAL
    • ON HERITAGE
    • CREATIVE BEATS
    • INTERALIA
    • WIDE ANGLE
    • OTHER VIEW
    • ART SPACE
  • Photo Gallery
  • CARTOON
  • EPAPER
No Result
View All Result
Kashmir Images - Latest News Update
No Result
View All Result
Home BUSINESS

Cabinet clears next gen IT-filing system; Infosys to implement Rs 4,242-cr project

Press Trust of india by Press Trust of india
January 17, 2019
in BUSINESS
A A
0
PM holds session with India’s heads of mission at meet
FacebookTwitterWhatsapp

New Delhi, Jan 16:  IT major Infosys has been selected to implement the next generation system for processing income tax return filings, with the Union Cabinet sanctioning an estimated Rs 4,241.97 crore for the project.

The move will help in bringing down the income tax return (ITR) processing time to one day and hence speed up refunds.

Related posts

Post ceasefire, PM Modi chairs high-level meeting

India fastest growing economy in world, says PM Modi

August 11, 2025

Indian refiners can do without Russian oil, but with trade-offs

August 11, 2025

The Cabinet, chaired by Prime Minister Narendra Modi, gave 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”, Union minister Piyush Goyal said.

Briefing media about the decision, he said the processing time at present for ITR is 63 days and it will come down to one day after implementation of the project.

Goyal said the project is expected to be completed in 18 months and will be launched after three months of testing.

Infosys, he said, has been selected to implement the project after the bidding process.

The current system, he said, has been a success and new project will be more tax friendly.

The e-filing and Centralised Processing Centre (CPC) projects have enabled end-to-end automation of all processes within the Income Tax Department using various innovative methods to provide taxpayer services and to promote voluntary compliance.

The Cabinet also sanctioned a consolidated cost of Rs 1,482.44 crore for the existing CPC-ITR 1.0 project up to 2018-19.

Goyal also informed that tax refunds worth Rs 1.83 lakh crore have been issued so far in the current fiscal.

The decision will ensure 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 per an official release, the broad objectives of the integration project include, faster and accurate outcomes for taxpayer, enhancing user experience at all stages, improving taxpayer awareness and education through continuous engagement.

Besides, it will also be promoting voluntary tax compliance and managing outstanding demand.

Previous Post

Sabarimala: CPI(M) hits back at Modi’s comments, says PM speaking like RSS ‘pracharak’

Next Post

Cong willing to give a few seats to other players in UP: Azad

Press Trust of india

Press Trust of india

Next Post
Azad moves motion to refer Triple Talaq bill to RS select committee

Cong willing to give a few seats to other players in UP: Azad

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

ePaper

  • About us
  • Contact us
  • Our team
  • Terms of Service
E-Mailus: kashmirimages123@gmail.com

© 2024 Kashmir Images - Designed by GITS.

No Result
View All Result
  • TOP NEWS
  • CITY & TOWNS
  • LOCAL
  • BUSINESS
  • NATION
  • WORLD
  • SPORTS
  • OPINION
    • EDITORIAL
    • ON HERITAGE
    • CREATIVE BEATS
    • INTERALIA
    • WIDE ANGLE
    • OTHER VIEW
    • ART SPACE
  • Photo Gallery
  • CARTOON
  • EPAPER

© 2024 Kashmir Images - Designed by GITS.