Electronic Tax Scrutiny Will Be Now Part Of Tax Assessment

Posted By:
Subscribe to GoodReturns

The government is mulling to change the way tax-assessment is carried out until recently and introduce e-assessment procedure for some 500 top companies. The assessment shall be location agnostic saying this means assessing officer shall be decided electronically.

Electronic Tax Scrutiny Will Be Now Part Of Tax Assessment

This is being mulled as a step to further the deep rooted enemy of corruption in the system.Further, the process is likely to boost up ease of doing business of the Indian economy.

The system is most likely to be introduced in the Union Budget 2018 and would eliminate human interface all at measures of scrutiny and assessments. Also algorithm will be determining the need for additional information and thus ending chances of discretion with same set of assessing officers or AO.

To this be implemented for all taxpayers in the Indian sub-continent, major overhaul of the tax department's Information Technology wing has to be effected.

Goodreturns.in

Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Find IFSC

Get Latest News alerts from Goodreturns