Business Mantra News
- Union Government is ready to implement the proposal of “faceless and nameless” e-assessment procedure for income tax payers from 2018.
- A nine member committee has been constituted by The Central Board of Direct Taxes (CBDT), headed by a principal Chief Commissioner Rank officer and notify that it is likely to submit its report for the implementation of the proposal till 28 February, 2018.
- CBDT is the policy making body of the Income Tax Department. The revenue authorities are trying to introduce paperless e-assessment.
- The Committee is constituted to prepare a roadmap for a “faceless and nameless” e-assessment procedure as many Tax payers are favouring for paperless assessment.
- The CBDT has been running a project in a few major cities and has been checking the feasibility of implementing this new regime of tax assessment for the last few years.
- The initiative was launched to reduce visits by taxpayers to I-T offices and their interface with the taxman with a view to put a curb upon corruption.
- “As such, there is an imperative need to re-deploy the available manpower in the light of the proposed e-assessment,” the CBDT order said.
- The new link of e proceeding was shown on the site of income Tax Department upon personal login of the tax payers.
- The new regime of tax department is optional for assesses and they may choose for e-assessment or opt for manually procedure by submitting documents to the Income Tax office.
The new e-filing procedure will be available for filling all types of notices and letters issued under various sections of the Income Tax Act.