Did you Have you filed your income tax return this time? If yes, then too you may get a delay in getting the return. We are not making this claim but a social media user claiming to be a Chartered Accountant (CA) has said this. CA Anand Luhar, who claims to be associated with the Institute of Cost and Works Accountants of India (ICWAI), said in a post on X (formerly known as Twitter) that income tax refunds may take time this year. He claimed that this will happen because the IT department is planning to use specially designed artificial intelligence software to check ITR filings.
What did CA claim?
According to CA’s tweet, IT refund may take time this year. The reason for this is that the Income Tax Department is going to scrutinize the returns very strictly this time. For this, the help of specially designed Artificial Intelligence Software Program (AI) will be taken. This software will first collect the data related to your PAN card, then it will scrutinize the data related to your Aadhar card.
This is how the investigation will be done
He further claimed that the AI will link your Aadhaar and PAN linked transactions with bank accounts. It will collect full details of fixed deposits (FDs), quarterly interest, share dividends, share transactions, mutual funds (MFs) and long term and short term gains of shares of all bank accounts declared by you and attached with the Income Tax ITR returns filed by you. It will also match undeclared bank accounts in your name and those joint bank accounts.
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