35L refund cases 'held up' for various reasons; I-T dept call centre working to resolve: CBDT
New Delhi (PTI): Around 35 lakh cases for issuance of refunds are currently "held up" with the Income-Tax Department owing to mismatch and validation of the taxpayers' bank accounts and the taxman is reaching out such assessees via a special call centre, CBDT Chairperson Nitin Gupta said on Tuesday.
The direct taxes body chief said the department was "in correspondence" with such taxpayers and it is their aim to expeditiously resolve these issues.
"We want to credit the refunds to the correct bank accounts of the taxpayers quickly," he said.
Asked during an interaction about instances where refunds are stuck as taxpayers were getting old demands pertaining to years around 2010-11, Gupta said the department had undergone a technology shift around 2011 -- from paper-based registers to computers -- and hence some of those old demands were showing up in the accounts of the assessees.
"We have started a unique demand management facilitation system about a year back for all such cases where refunds are held up due to a variety of reasons. An email is triggered to the taxpayer saying they will get a call three days from the dispatch of the email from a particular number and following this conversation, the issues are being resolved," he told reporters here.
"We have resolved 1.4 lakh such entries over the last year following this Mysuru-based call centre interaction and the taxpayer can either accept the demand or contest it," the Central Board of Direct Taxes (CBDT) head said.
Initially, this call centre was working for four of our ranges of Karnataka and Goa, Mumbai, Delhi and the north-west region but we plan to expand it further to other regions and cities, he said.
The CBDT is the administrative body for the I-T Department.
Apart from the record update at the end of the department or the assessing officer, there are two more reasons for refunds being held up, Gupta said.
In some cases refunds are held up because the taxpayer has not validated their bank account, either the bank has merged or the assessee has changed cities and the IFSC has changed, he said.
"We urge the taxpayers to get their bank accounts validated. We have about 35 lakh cases where such mismatch has been detected and we are in touch with such taxpayers through official communication channels and the call centre as well," he said.
According to official data for assessment year 2023-24, a total of 7.27 crore ITRs were filed out of which 7.15 crore were verified by the taxpayers and the department has processed 6.80 crore ITRs out of these.
About 93.5 per cent of duly verified ITRs have been processed till now, the data said.
Talking about the ITR-U or income tax return-updated that was introduced by the Union government in Budget 2022-23, Gupta said the department has collected 1,300 crore in additional tax after 16.8 lakh such returns were filed by taxpayers during the current financial year of 2023-24.
He was also asked about the new tax regime which the Union government brought out during the last Budget.
"We find that the corporates have filed about 60 per cent of their profits under the new tax regime during the last fiscal and we also hope that 60-70 per cent of individual taxpayers will shift to the this new tax regime," he said.
The new tax regime aims to end various deductions and claims and offer a flat and lesser tax rate to the taxpayers.
Gupta added that the direct taxes mop up was going good and "as on date", the department has collected Rs 9.57 lakh crore in net revenue (under the personal income tax, corporate and other taxes head) after it issued Rs 1.50 lakh crore in refunds during the ongoing fiscal.
He said the department as confident that it will surpass the budget estimates made for direct tax collections at the end of this financial year in March 2024.
The 2023-24 budget has pegged the direct tax collection at a little over Rs 18.23 lakh crore, a 9.75 per cent higher than Rs 16.61 lakh crore mopped up last fiscal.
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Real Madrid fines Valverde and Tchouaméni half a million euros each for altercation
Barcelona (AP): Real Madrid slapped players Federico Valverde and Aurélien Tchouaméni with half-a-million-euro ($588,000) fines on Friday for their altercation during practice.
The massive fines came a day after the midfielders tussled when the team trained. Valverde said in a post on social media on Thursday that no punches were thrown. But Valverde knocked his head on a table and he suffered a small cut that required a brief hospital visit.
On social media, Valverde initially called it a “meaningless fight” with a teammate and said “everything has been blown out of proportion."
His employers, however, considered it a significant enough breach of team discipline to nail both Valverde and Tchouaméni with fines that bite even the bank account of a top soccer player. The half-a-million euro penalties reflect the reputational damage the club was enduring in a chaotic end to a disappointing season.
In a statement, the 15-time European champion said its disciplinary action was concluded after both players expressed to the club “their complete remorse for what happened and apologized to one another.”
Madrid added they also apologized to their teammates, the coaching staff and club supporters, as well as showing their willingness to accept whatever disciplinary action the club deemed “opportune.”
Tchouaméni was back training with Madrid on Friday, two days before they play at Barcelona in a clasico. Madrid has to win otherwise Barcelona will be crowned La Liga champion.
After being notified of the fine, he posted a public apology to the club and its fans on social media.
“What happened this week in training is unacceptable,” Tchouaméni wrote. "I say this while thinking about the example we are expected to set for young people, whether in football or at school.
“Above all, I am sorry for the image we projected of the club.”
Valverde was not at practice due to the head knock.
Both players are set to play in the World Cup next month, with Tchouaméni playing for France and Valverde for Uruguay.
Chaotic end to a poor season
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The run-in between the players, who for seasons have played side by side in Madrid's midfield, came after they argued this week in previous training sessions. But tempers boiled over on Thursday. Spanish media was rife with reports that the players previously disagreed over the club's decision to let coach Xabi Alonso go after just months on the job.
It was not the only altercation involving Madrid players during training this week. Álvaro Carreras confirmed he was in a “minor” incident with a teammate. Spanish media said he and fellow defender Antonio Rüdiger got into a scuffle.
Álvaro Arbeloa, the coach who was promoted from Madrid's reserve team when Alonso was fired in January, will face tough questions on what went wrong inside the changing room when he gives a press conference on Saturday ahead of the clasico at Camp Nou.
Madrid is facing a second consecutive campaign without a major trophy amid rumors in the Spanish media that club president Florentino Pérez is considering bringing back Jose Mourinho to straighten out his underperforming team.
