THESE are the govt's new income tax measures ... Know how this will affect you

With the economy gasping for breath in recent times, Union Finance Minister Nirmala Sitharaman has announced several steps here on Saturday in an effort to bring things back on track.

New Delhi, Sep 14: With the economy gasping for breath in recent times, Union Finance Minister Nirmala Sitharaman has announced several steps here on Saturday in an effort to bring things back on track.

There is some good news for taxpayers. Now, in most cases of scrutiny, the Income Tax officer will not confront the taxpayer.

The Ministry of Finance has notified the e-assessment scheme for faceless scrutiny.

Under this scheme, e-assessment centers will be created at the national and regional levels. The allocation of cases in these centers will be done automatically.

Interaction with taxpayers at the assessment center will take place in a completely electronic manner. As before, the tax authorities will not talk to the taxpayer face to face. The most important thing is that the taxpayer will not need to present himself at the center.

Even the assessment will be based on certain standards already laid down. The Central Board of Direct Taxes has issued a notification on September 12, 2019. Under this scheme, if the taxpayer intentionally reduces his income or shows an exaggerated loss, then a notice of scrutiny is issued to that person under section 143 (2) Will be done.

The person must submit his reply within 15 days of receiving the notice. The notice will be sent electronically to the taxpayer's account on the e-filing website.

Simultaneously, it will also be sent to the taxpayer's email ID. If the taxpayer has registered the mobile number on the mobile app of the Income Tax Department, then he will get the notice only, he will have to answer only the notice received through the registered account.

The taxpayer will not have to appear in person before the Income Tax Authority, National E-Assessment Center or Regional E-Assessment Center or any unit constituted under the scheme. Any communication between the department and the taxpayer will be through electronic means. All internal communications will be done electronically even within the Income Tax Department.

News24 Bureau

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