Union cabinet sanctioned 4,242-cr project for implement next gen IT-Filing System

Union Cabinet Sactioned Rs. 4,242 Crore for implement next gen IT-filling system,The Cabinet chaired by Prime Minister Narendra Modi, gave approves for expenditure sanction of Rs 4,241.97 crore for Integrated E-filing and Centralised Processing Centre 2.0 Project of the Income Tax Department"

This project will help to taxpayers to get refund in one day, Currently ITR take 63 days for process for income tax returns. 

IT major Infosys has selected implement ITR project. To complete this project take 18 months. Once complete this project will launch testing for three months. Union Minister Piyush Goyal said to media.

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.