Experts explain: How new transparent taxation platform will help taxpayers and should you expect more?
Prime Minister Narendra Modi on Thursday launched a new the `transparent taxation` platform to further digitise the Income Tax Department’s functioning. It aims to bring into effect faceless assessment of taxpayers, faceless appeals and the Rights` Charter for the taxpayers.
Prime Minister Narendra Modi on Thursday launched a new the `transparent taxation` platform to further digitise the Income Tax Department’s functioning. It aims to bring into effect faceless assessment of taxpayers, faceless appeals and the Rights` Charter for the taxpayers. With the `Transparent Taxation Honouring the Honest` that is aimed at carrying forward the journey of direct tax reforms, the taxpayers would not be harassed or treated with suspicion here on.
SR Patnaik, Partner & Head – Taxation, Cyril Amarchand Mangaldas believes that this is a significant announcement from the Indian taxation perspective and an overhauling of the tax department is also on the way.
"The PM has today announced Taxpayer's Charter and Faceless Assessment scheme, as promised by the FM at the time of budget. Even the appeals are going to be faceless from September 25. These are significant announcements from an Indian taxation perspective. However, having said this, it is expected that an overhauling of the tax department is also on the way and it is expected that the tax authorities would also ensure their deliveries within time,” he said.
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The recent move will help taxpayers by providing them fair, courteous and rational behavior maintain taxpayer’s dignity and the valuable time and efforts, explained Kapil Rana, Founder & Chairman, HostBooks Limited.
“The faceless assessment, appeals and other administrative coupled with the adoption of new-edge technology like Artificial Intelligence (AI) and Machine learning (ML) to make the taxpayer journey & experience more transparent and ardent. It was a much-awaited & bold step from The Government and a strong footprint in India’s progress towards the “True Digital Economy,” he said.
Meanwhile, Vipul Jhaveri, Managing Partner- Tax, Deloitte India hopes that the move will encourage people to participate as also take pride in development and growth of our nation.
“It is certainly a very taxpayer friendly step for putting in place a people-centric, public-friendly approach in tax matters and lead to larger structural reforms in the coming years. It will further the goal of Ease of Doing Business as also ensure Ease of Living, which the Prime Minister has been strongly propagating,” he said.
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