Indiaherald Group of Publishers P LIMITED

X
close save
crop image
x
TM
Sun, Feb 17, 2019 | Last Updated 7:23 pm IST

Menu &Sections

Search

New I-T return filling system be developed by Infosys

New I-T return filling system be developed by Infosys
New I-T return filling system be developed by Infosys
http://apherald-nkywabj.stackpathdns.com/images/appleiconAPH72x72.png apherald.com

According to sources Indian IT major Infosys has received cabinet approval to develop, what is being called, the next generation income tax filing system, which will cut down the processing time for returns from 63 days to one day and expedite refunds. Meanwhile the integrated E-filing and Centralized Processing Centre 2.0 Project of the Income Tax Department will be developed by Infosys at a cost of Rs 4,241.97 crore.



Reports added the Cabinet has also sanctioned a consolidated cost of Rs 1,482.44 crore for the existing CPC-ITR 1.0 project up to 2018-19. Hence this is the current system that is being used to process I-T returns and will be used till the new one becomes operational. Meanwhile Union Railway Minister Piyush Goyal, the project, which he claims will be more tax friendly, will be completed in 18 months, then tested for three months and then launched. Post this, the processing time for income tax will come down to one day.

New I-T return filling system be developed by Infosys

Moreover PTI also quotes Piyush Goyal as saying that tax refunds worth Rs 1.83 lakh crore have been issued so far in the current fiscal. Reportedly in the current fiscal, the government processed Rs 1.83 lakh crore worth of tax refunds and hence these refunds are reportedly issued after a lot of scrutiny and if there is a delay, the government is liable to pay interest.


New I-T return filling system be developed by Infosys
5/ 5 - (1 votes)
Add To Favourite
More from author
Madras HC orders for no flex boards for Jayalalitha's Birthday
From March 3, eateries no longer allowed to reuse cooking oil more than 3 times
New deadline for commissioning Kerala's Vizinjam Port extended to October 2020
COAI feels new regulations are vague to violate privacy of users
BJP to make alliance announcement soon: Piyush Goyal
Priyanka Chopra, Nick had great time on Valentines Day
Dewan Housing Finance shares slumped to an intraday low of Rs. 103.95
Ooty Lake to be cleaned soon
Air India flights to Iraq begins operations after 30 years
Dhanush congratulated Sai Pallavi for beating her own record saying 200 Million
Protest shutdown against terror attack affects life in Jammu
Telangana Municipalities good news for Families below poverty line
CRPF Jawans victimized in Jammu & Kashmir
Surprise Gift to Rahul Gandhi on Valentines Day
 2 alliances in India, one under Rahul Gandhi and a 'gatbandhan' which has no leader: Amit Shah
Arya & Sayyeshaa getting engaged to each other
Dinesh Karthik reveals reason for loss!
Forest department eyeing Chinnathambi!
Kamal Hassan praises woman!
Captain Vijayakanth coming soon!
Trump still adds to sources not requiring congressional approval
New inmate into TDP from MLA Nandamuri Balakrishna's Family
Will Anti Corruption Bureau in Delhi be controlled as per instructions from SC?
KCR Govt plans to illuminate Charminar with 190-watt LED light
When will Tamilnadu Districts be upgraded as Corporations?
Know how to hide Caller ID when making call to Uber Driver
Is there any delay in conducting 3rd season of Telugu Bigg Boss?
Election work inspected for Telangana by CEC
Rhode Island Governor lauded Infosys for training its graduates for digital jobs
We worked 100% for upliftment of country: PM Narendra Modi
PM Narendra Modi's next visit to AP by February end
Deepika Padukone's gift to Ranveer on Valentine's Day
Girl molested by Facebook friend!
Opposition attacking centre!
Vaiko in tears on stage!
Hindu Munnani warns lovers!
About the author

Bharath has been the knowledge focal point for the world, As Darvin evolution formula End is the Start ... Bharath again will be the Knowledge Focal Point to the whole world. Want to hold the lamp and shine light on the path of greatness for our country Bharath.