I-T department refunds ₹62,000 crore to 20 lakh taxpayers

The income tax department has issued tax refunds at a speed of 76 cases per minute from April 8 to June 30, 2020

Indian government brushes off proposal to impose coronavirus tax on super rich

Some 50 officers of Indian Revenue Service recommended raising highest tax rate to 40% for people with annual income above 10 million rupees

The new income tax returns forms will be notified by the month-end and return filing utility would be available by May 31

Average declared income rises 19% during the period.

The policy-making body of the IT department said the total number of crorepati taxpayers has also seen a growth of about 60 per cent.

The department even failed to utilise the special drive launched to resolve taxpayers’ grievances.

The idea behind the directive is that the provision of filing revised ITR is not misused and black income is not shown as white.

The top boss of the I-T department said that till now, the taxman has attached 621 properties.

The project will involve creating a 'semantic web' that will track people's social media accounts.

Also, businesses have to specify reason for any reduction in advance tax payment compared to preceding financial year.