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CBDT Directs Officers to Identify Top 30 TDS Shortfall Cases by June 30

Interim Action Plan by the Central Board of Direct Taxes Outlines Key Focus Areas for Fiscal Year 2024-25

The Central Board of Direct Taxes (CBDT) has rolled out its interim action plan for the fiscal year 2024-25, delineating the primary focus areas for field formations. This comprehensive plan encompasses various crucial aspects, including impending refunds, disposal of appeals, examination of TDS cases, and more.

Outlined in the interim action plan are key directives pertaining to specific timelines and Key Result Areas to be achieved. The plan mandates the disposal of information requests from enforcement agencies received prior to April 1 by April 30. Additionally, it emphasizes the examination of the top 30 cases of short payment in the realm of tax deducted at source (TDS) by income tax officers. Furthermore, the Commissioner of Income Tax is tasked with disposing of at least 150 appeals by June 30 this year.

In a recent communication to its officials, the CBDT underscored the significance of the outlined Key Result Areas and the requisite achievement within specified timelines. The interim action plan is a customary issuance at the commencement of each financial year, followed by further refinement leading to the final action plan later in the year.

Notably, the CBDT’s interim plan also accentuates the need for conducting seminars and awareness campaigns on TDS. Over the years, TDS has evolved into a substantial source of government revenue, amounting to Rs 8.17 lakh crore in FY23 from a mere Rs 2.13 lakh crore in FY13.

Furthermore, the plan stresses the immediate approval of all pending refunds withheld under Section 241 (A), subsequent to completion of scrutiny assessments and passage of necessary orders. It also delineates the timelines for sharing information sought by enforcement agencies such as the CBI, SEBI, and Enforcement Directorate. All requests received before March 31, 2024, should be shared by the month’s end, while requests received after April 1 should be catered to within 15 days.

As part of the CBDT’s interim plan, field officers are instructed to identify cases where seized assets are due for release as per section 132B, and to effect their release by June 30 this year.

The interim action plan by the CBDT encapsulates a multifaceted approach, addressing critical areas and setting clear directives to ensure timely and efficient execution.

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