CBDT issues interim action plan for FY25

New Delhi, April 11

the Central Board of Direct Taxes (CBDT) has come out with an interim action plan for 2024-25 fiscal year, which include identification of potential cases of prosecution, wherein there is short-payment of TDS and faster disposal of appeals. The action plan also stipulates timeline for approval of refunds, identification of cases where seized assets are due for release and release the same by June 30, 2024.

It also called for finalisation of compounding proposals pending as on March 31, 2024, and disposal of at least 150 appeals by June 30. Priority should be given to disposal of the appeals filed prior to April 1, 2020, followed by disposal of appeals filed after April 1, 2020, it said.

AKM Global, Partner- Tax, Sandeep Sehgal said the CBDT has unveiled its interim action plan for FY 2024-25, marking a significant stride towards enhancing tax administration efficiency. Immediate measures have been initiated to address grievances through e-Nivaran and CPGRAM platforms. “Taxpayers are now required to file applications before the assessing officer for pending refunds pertaining to their respective assessments.

This proactive approach aims to expedite the refund process,” Sehgal said.