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Tag: nirmala sitharaman update

  • Ready to speak with startups to deal with their considerations and stop them from shifting out of India: FM Sitharaman

    The authorities is able to discuss with the startups who’re considering shifting abroad and handle their points as a lot as it will probably to assist them keep in India, Union Finance Minister Nirmala Sitharaman stated on Tuesday.

    Prime Minister Narendra Modi, she instructed a think-tank right here, has himself engaged with startups and the federal government’s insurance policies have created an enabling setting because of which there are greater than 100 unicorns in India.

    “I have engaged, the Prime Minister with the startups to know what they want from India. And we kept as much as possible addressing their concerns. Now as a result of which, not purely as a result of which, but also because of which, you saw your Unicorns coming to reach 100 in number within the year of 2020 and 2021,” she stated in response to a query on the prestigious Brookings Institute think-tank.

    “I’ve heard this from others as well. They (startups) are moving to Singapore, they’re moving to the UAE. Well, if they want to talk to the Government of India and say, look, we were moving to Singapore, but if we were to do this, we would be quite happy to be here. And after hearing it if it’s possible, we’ll certainly attend to them,” Sitharaman stated when requested concerning the profitable Indian startups shifting in another country.

    “So I would think continuous engagement with the startups is what is going to help them to remain and do better within India. But, if there are temptations for which they would want to go outside, we need to understand how much we can entertain and serve on those courses. Not all of them are possible but equally, we can try,” Sitharaman stated.

    Responding to a different query, the finance minister stated the Indian authorities is taking particular efforts to encourage startups within the Northeast.

    “I remember myself having had meetings with chief ministers of those regions about startups and IIT Guwahati, particularly, has a lot of interaction with industry and also encourages by throwing up challenges for the startups to come up with solutions,” she stated.

    “As a result, I find in the Northeast this unique, very typical for the Northeast kind of solutions emanating from startups which are coming up in that area,” she added.

  • New revenue tax e-filing portal: FM flags ‘concerns’, Infosys to resolve key points in every week

    In two separate conferences with Infosys on Tuesday, Finance Ministry officers mentioned the glitches affecting the newly launched revenue tax portal. Finance Minister Nirmala Sitharaman “expressed her deep concern on the various problems being faced by the stakeholders in the new portal which was expected to provide a seamless experience to taxpayers”, a Finance Ministry assertion stated.
    The first assembly was attended by Sitharaman, Minister of State for Finance Anurag Thakur, Revenue Secretary Tarun Bajaj, CBDT Chairman Jagannath Mohapatra and different senior officers, whereby the Finance Minister exhorted Infosys to work on the tax portal to make it “more humane and user-friendly”. This was adopted by one other detailed assembly between senior officers of the Department of Revenue and the Infosys group, protecting technical points within the new portal.

    “The FM asked Infosys to address all issues without further loss of time, improve their services, and redress grievances on priority as it was impacting taxpayers adversely,” the assertion stated. During the assembly, Infosys CEO Salil Parekh, COO Pravin Rao, and different firm officers took word of the problems. Infosys knowledgeable that it has been working to repair the technical points. It stated at the least 5 problems with e-proceedings, Form 15CA/15CB, TDS statements, DSC, viewing of previous ITRs are anticipated to be resolved in a few week, the assertion stated.

    Within 4 hours of its launch on June 7, the brand new revenue tax e-filing portal began growing glitches — starting from primary login points, incapability to generate OTP for Aadhaar validation, password technology glitches, failure to hyperlink outdated information for previous returns, and issues in submitting returns — following which the Finance Ministry known as for a gathering with the undertaking’s vendor, Infosys, to deal with stakeholder considerations and recommend remedial measures. The Ministry had obtained greater than 700 emails from stakeholders detailing over 2,000 points together with 90 distinctive points/issues within the new portal.

    During the assembly, Sitharaman emphasised that enhanced taxpayer service is a vital precedence for the federal government and each effort must be made to amplify the identical. The assembly was attended by 10 tax professionals, together with representatives of ICAI and All India Federation of Tax Practitioners (AIFTP).
    The e-filing portal http://www.incometax.gov.in was launched on June 7, which the tax division in addition to the federal government stated was geared toward making compliance extra taxpayer-friendly. This is the portal that widespread revenue taxpayers may even use to file their annual returns for evaluation 12 months 2021-22, for revenue earned in monetary 12 months 2020-21. The final date for submitting of such returns by particular person taxpayers is September 30.

    Ahead of Tuesday’s assembly with Infosys, the Finance Ministry had on June 16 invited written representations from stakeholders about glitches or points confronted on the brand new I-T e-filing portal.
    The Cabinet authorised an expenditure sanction of Rs 4,241.97 crore for Integrated e-Filing & Centralized Processing Center (CPC) 2.0 Project of the Income Tax Department on January 16, 2019 from FY 2018-19 to FY 2026-27, which incorporates payout to Infosys. The letter of award of contract was issued to Infosys on January 23, 2019, to design, develop, implement, function and preserve CPC. Infosys was awarded the contract in 2019 to develop a brand new revenue tax submitting system that would scale back processing time for returns from 63 days to sooner or later, and expedite refunds.

  • FM Sitharaman asks Infosys to repair tech glitches on new revenue tax e-filing portal

    Finance Minister Nirmala Sitharaman on Tuesday requested Infosys and its Chairman Nandan Nilekani to repair technical glitches being encountered on the revenue tax division’s new e-filing web site, after customers flooded her Twitter timeline with complaints.
    Infosys was in 2019 awarded a contract to develop the next-generation revenue tax submitting system to scale back processing time for returns from 63 days to at some point and expedite refunds.
    The portal went reside final night.

    Early on Tuesday morning, Sitharaman took to Twitter to announce the launch of the brand new portal, http://www.incometax.gov.in, saying that the “important milestone to make the compliance experience more taxpayer-friendly” went reside at 2045 Hrs on Monday.

    The a lot awaited e-filing portal 2.0 was launched final evening 20:45hrs.
    I see in my TL grievances and glitches.
    Hope @Infosys & @NandanNilekani won’t let down our taxpayers within the high quality of service being supplied.
    Ease in compliance for the taxpayer needs to be our precedence. https://t.co/iRtyKaURLc
    — Nirmala Sitharaman (@nsitharaman) June 8, 2021
    But, quickly, her timeline was flooded with person complaints.
    “I see in my TL grievances and glitches. Hope @Infosys & @NandanNilekani will not let down our taxpayers in the quality of service being provided,” she tweeted later.
    TL right here stands for timeline.

    “Ease in compliance for the taxpayer should be our priority,” she mentioned whereas quoting a tweet from a person who was unable to log in to the brand new e-filing portal.
    Infosys had additionally developed the GST Network (GSTN) portal, used for GST cost and return submitting. The software program main had confronted flak for gradual functioning of the GSTN portal.