"Out of all the tax returns in the year 2012-13, scrutiny of 0.94 per cent was done. In the year 2018-19, this figure has come down to 0.26 per cent. The scrutiny of cases has reduced by almost one fourth," PM Modi Said
"This notification shall come into force from the date of its publication in the Official Gazette," stated Niraj Kumar, Deputy Secretary (Tax Policy and Legislation Division), in the notification.
Sources said that in all the above cases, the grievances of over-pitched assessment or harassment by the taxpayers/tax professionals have been almost eliminated.
Last week, the Centre extended the deadline for filing revised income-tax returns (ITR) for 2018-19 fiscal till July 31, 2020.
PM Modi said, Government has given a lot of emphasis on four sectors agriculture, infrastructure, textiles and technology in the budget to increase the employment generation.
The speech, which lasted approximately 2 hours and 40 minutes, is the longest ever in terms of duration by any finance minister.
Kashmiri writer Dina Nath Kaul Nadim was born in Srinagar in 1916 and passed away on April 8, 1988. He mostly wrote in the Kashmiri language and his first Kashmiri poem in 1942 was dedicated to the valley -- "Maej Kashir" (Mother Kashmir).
In the Union Budget 2019-20 presented today, FM Nirmala Sitharaman laid out a 16-point action to set the agriculture sector up for better times. An allocation of Rs 2.83 lakh crore will be made for the agriculture sector, the FM announced.
"With renewed vigour, under PM's leadership, we commit ourselves to present the people of India with all humility and dedication. People have reposed faith in our economic policy," she added.