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  • Category: Miscellaneous

    Does the faceless IT assessments pave way for more sincere tax payers?

    Yesterday PM Modi has unveiled the new IT policy through which the people have been given to file and pay the income tax on their own as there would not be raids, scrutiny and the government would believe the sincere tax payer on the face of their filing the papers. I think this is the far reaching decision of the govt which would now pave way for more sincere tax payers as earlier they need to consult CA, and other accounting offices to help them file returns and now IT returns can be filed online without any help and faceless assessments would create more for sincere tax payers.
  • #707586
    I think the author is talking about The Faceless Assessment Scheme. Yesterday our Prime Minister launched the Faceless Assessment and Taxpayers Charter. This scheme will eliminate human interference between the taxpayer and the income tax department. There will not be any requirement for the taxpayer to go to IT office. If you received any notice from the department you need not visit the office of Income-tax You can make your reply posted online and the officials will see your reply and respond to that and will do the needful. This is the main point and it will come into force fro 25th of September 2020. Document Identification No.(DNI) will be given to the notices served by the department. Now the ITR assessments will be random and any ITR can be assessed by any IT office and the computer will select the TRs on a random basis. Self-assessment is already in implementation and we can submit our returns and there is no rule that we have to go through a tax consultant.
    drrao
    always confident

  • #707673
    I think this is a good scheme and would provide relief to a great extent to some of the tax payers who on one or other pretext were asked to appear in the IT office for clarifications on the returns filed by them. Anyway, IT department is free to make enquiry on any IT return which appears to be faked or presented in a dubious way. Most of the people fill it in an honest way and should not be afraid of any enquiry.
    Knowledge is power.


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