Skip to main content

Full I-T e-assessment from next year; CBDT forms committee

Full I-T e-assessment from next year; CBDT forms committee
The government is set to roll out a pan-India "faceless and nameless" e-assessment procedure for income tax payers from 2018 with the CBDT today constituting a high-level committee to prepare a quick roadmap for the implementation of this ambitious proposal.
The Central Board of Direct Taxes (CBDT), the policy- making body for the Income Tax Department, notified a nine- member committee--headed by a Principal Chief Commissioner rank officer -- and has set for it a deadline of February 28, 2018, for submitting its report.
"The deadline of February end to the committee is an indication that the government and the CBDT want to usher in this new regime from the first half of the new year," a senior tax officer privy to the development said.The committee is being constituted as the "department is embarking upon the concept of a faceless and nameless e- assessment procedure", the CBDT order, issued late evening, said.
The CBDT has been running a pilot project in a few major cities and has been testing 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, thereby curbing 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.
PTI has accessed the CBDT order.
The terms of reference of the committee are to propose the new deployment of manpower in view of the implementation of e-assessment; to propose modalities and stages of re- deployment of manpower from existing stations and to recommend the requirements of additional manpower and infrastructure, if any, in the light of this new initiative.
The committee will also "recommend distribution of manpower between assessment units, investigation wing and DG Systems (the technical wing of the CBDT) in view of the new areas assigned to the investigation wings in matters related to Operation Clean Money", launched by the government to check black money post demonetisation.
A blueprint prepared by the CBDT earlier this year had said the number of income tax payers opting for paperless assessment, under the pilot project, rose by 78 per cent over the last three years.
An official CBDT statement issued at the conclusion of the two-day 'Rajaswa Gyan Sangam' conference (national meeting of top tax officers of the country), held here this year, had said the government wanted I-T assessing officers to "be encouraged to maximise e-assessment in a phased manner and to ensure that work be completed online so that there is complete transparency."
Prime Minister Narendra Modi, who had inaugurated the conference, had also asked I-T employees to create an environment that instills confidence among honest taxpayers and uproots corruption.

PTI had first reported in April this year that all I-T department related proceedings would henceforth be conducted online.A new link--e-proceeding-- was recently hosted by the department on the personal login of the taxpayer on the e- filing website income tax india efiling.gov.in
The new regime of e-communication will, however, be voluntary and taxpayers can take a call on whether to conduct their dealing over the e-system or through the existing procedure of manual submissions of documents by visiting the tax office.Once taxpayers register on the web portal, they will get a confirmation as a text message and an email on their registered mobile number and email ID, indicating success.
The functionality to conduct e-proceeding will be available for all types of notices, questionnaires and letters issued under various sections of the I-T Act, the CBDT had earlier said.
The Economic Times, New Delhi, 21th December 2017

Comments

Popular posts from this blog

At 18%, GST Rate to be Less Taxing for Most Goods

About 70% of all goods and some consumer durables likely to cost less

A number of goods such as cosmetics, shaving creams, shampoo, toothpaste, soap, plastics, paints and some consumer durables could become cheaper under the proposed goods and services tax (GST) regime as most items are likely to be subject to the rate of 18% rather than the higher one of 28%.

India is likely to rely on the effective tax rate currently applicable on a commodity to get a fix on the GST slab, said a government official, allowing most goods to make it to the lower bracket.

For instance, if an item comes within the 12% excise slab but the effective tax is 8% due to abatement, then the latter will be considered for GST fitment.

Going by this formulation, about 70% of all goods could fall in the 18% bracket.

The GST Council has finalised a four-tier tax structure of 5%, 12%, 18% and 28% but has left room for the highest slab to be pegged at 40%. A committee of officials will work out the fitment and the council…

Firms with sales below Rs.50 crore out of ambit

The tax department has reiterated that the PoEM rules, which require foreign firms to pay taxes in India if the effective control is here, will not apply to companies withaturnover of Rs.50 crore or less inafinancial year. Last month, the tax department had come out with the longawaited Place of Effective Management (PoEM) rules, which require foreign companies in India and Indian firms with overseas subsidiaries to pay local taxes if their businesses are effectively controlled by Indians. Then the rules did not setathreshold above which they were to apply. However, the accompanying press release states that the rules will not apply to companies withaturnover of up to Rs.50 crore inayear. That created confusion whether the threshold will be adhered to. Inacircular to clarify things, the Central Board of Direct Taxes (CBDT) said the provision "shall not apply toacompany havingaturnover or gross receipts of ~50 crore or less inafinancial year".

PoEM rules essentially target shell …