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

Household debt up, but India still lags emerging-market economies: RBI

  Although household debt in India is rising, driven by increased borrowing from the financial sector, it remains lower than in other emerging-market economies (EMEs), the Reserve Bank of India (RBI) said in its Financial Stability Report. It added that non-housing retail loans, largely taken for consumption, accounted for 55 per cent of total household debt.As of December 2024, India’s household debt-to-gross domestic product ratio stood at 41.9 per cent. “...Non-housing retail loans, which are mostly used for consumption purposes, formed 54.9 per cent of total household debt as of March 2025 and 25.7 per cent of disposable income as of March 2024. Moreover, the share of these loans has been growing consistently over the years, and their growth has outpaced that of both housing loans and agriculture and business loans,” the RBI said in its report.Housing loans, by contrast, made up 29 per cent of household debt, and their growth has remained steady. However, disaggregated data sho...

External spillovers likely to hit India's financial system: RBI report

  While India’s growth remains insulated from global headwinds mainly due to buoyant domestic demand, the domestic financial system could, however, be impacted by external spillovers, the Reserve Bank of India (RBI) said in its half yearly Financial Stability Report published on Monday.Furthermore, the rising global trade disputes and intensifying geopolitical hostilities could negatively impact the domestic growth outlook and reduce the demand for bank credit, which has decelerated sharply. “Moreover, it could also lead to increased risk aversion among investors and further corrections in domestic equity markets, which despite the recent correction, remain at the high end of their historical range,” the report said.It noted that there is some build-up of stress, primarily in financial markets, on account of global spillovers, which is reflected in the marginal rise in the financial system stress indicator, an indicator of the stress level in the financial system, compared to its p...

Healthy balance sheets augur well for economy: RBI Governor Sanjay Malhotra

  Large tariffs by the United States administration and elevated geopolitical risk have increased near-term global financial stability risks, and along with weather events pose downside risks to domestic growth, Reserve Bank of India(RBI) Governor Sanjay Malhotra said in the foreword to the Financial Stability Report released today.Noting that domestic growth momentum is buoyed by strong domestic drivers, sound macroeconomic fundamentals and prudent policies, Malhotra said: “External spillovers and weather-related events could pose downside risks to growth.”On the other hand, he said the outlook for inflation is benign, and there is greater confidence in the durable alignment of inflation with the Reserve Bank’s target.Commenting that the structural shifts reshaping the global economy are making policy intervention challenging, the Governor emphasised the need for central banks and financial sector regulators to remain vigilant, prudent and agile in safeguarding their economies and...