5000 people owe Rs 43 lakh crore as Income Tax, most of the money is stuck in Delhi and Mumbai

CBDT: The Income Tax Department aims to improve tax collection and reduce the amount stuck in litigation. The department has ordered higher-ranking officers to form a special team so that cases of large outstanding dues can be resolved as soon as possible.

ITR Refund: This time, the last date for filing ITR was fixed as 31 July by the Income Tax Department. By the last date, more than 7 crore people had filed their returns. After this, the refund process is going on after the department checks the ITR. Now, the Income Tax Department has asked the officials to focus on the top 5,000 cases, on which tax of about Rs 43 lakh crore is pending.

Instructions to form a special team

The Income Tax Department aims to improve tax collection and reduce the amount stuck in litigation. Higher rank officers from the department were instructed to form a special team so that after analyzing the cases, the list can be sent to CBDT by the end of September. Many types of tax related cases are pending in litigation. Out of these, cases with more pending dues will be expedited.

The central government's focus on revenue generation

should be to assess ten-year-old cases and take them forward at a fast pace. In such instances in which taxpayers cannot be traced, there is a need to prepare different strategies. Focusing on tax demand is one of the important central action plans. This task has been given to the officials for the current financial year. Actually, the central government wants to focus more on revenue generation to meet the needs of its big expenditure.

The department has estimated a collection of

Rs 16.7 lakh crore. Out of this, a target of recovery of Rs 8 lakh crore has been set. Out of this, more than 35% (Rs 2.8 lakh crore) is expected to come from Mumbai. After this, Rs 86,692 crore is expected to come from Delhi and the rest from Tamil Nadu and Puducherry.