The income tax department has come out with an interim action plan for 2024-25 fiscal year, which includes identification of potential cases of prosecution, wherein there is short-payment of TDS and faster disposal of appeals.

The action plan also stipulates a 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 the 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 before April 1, 2020, followed by disposal of appeals filed after April 1, 2020, it said.

AKM Global, Partner-Tax, Sandeep Sehgal said the Central Board of Direct Taxes (CBDT) has unveiled its interim action plan for 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, which serve as pivotal mechanisms for grievance redressal.

“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, offering considerable relief to taxpayers and fostering a structured framework to bolster tax administration efficiency,” Sehgal said.