Income Tax: Big changes in income tax law, now income tax department will also check these things of taxpayers..

Income Tax news: Income Tax Department officials used to face some difficulties in investigation and search in many tax-related cases, which will not be there now. Now the officials have gotten this right in the new tax law (New Income Tax Act). This will affect the taxpayers and the hope of further improvement in the tax system will increase. According to the new legal provisions and rules, the department will now also investigate those things of taxpayers (latest update for taxpayers), that were not taken care of earlier or there was a problem in the investigation.

This step has been taken to keep a close watch on tax evasion and those giving wrong information. With the new power given to the department officials, they have now become even stronger. This also makes it clear that now no irregularity will be spared. This change will be like a new challenge for taxpayers (Taxpayer's news), due to which they will now have to be cautious at every step.

This rule has changed -

At present, under the tax law, the officials have the right to seize the property and check the document if there is suspicion of violation of tax rules (income tax new rules). During the checking of taxpayers, under Section 132 of the Income Tax Act, 1961, officers have the right to break the locker, break the door, and confiscate the goods.

Now in the new rules, officers will get the right to check and access the digital file. This change has been made because nowadays most of the documents and transactions are in digital form. This will help the officers to investigate tax evasion and other irregularities.

The investigation process related to tax will be easy-

Now people keep their important documents on their mobile and computer in digital form. Because of this, all transactions are also online (Online Transaction Records), which makes it easy to track. According to experts, this change simplifies the investigation process related to tax. This has been clarified in the new rules so that the officers get help during the investigation and no information is hidden. This step will enable the correct use of digital means and will increase transparency in the tax process (income tax latest update).

The department also keeps an eye on these things -

Nowadays, the government department is paying attention to the financial activities of every person. Due to the technological advancement of the Annual Information Statement in 26AS, every transaction is being understood and tracked in advance. This process automatically receives information about all major expenses. This ensures that every person pays the correct tax according to his income and expenses.

Due to this, people who try to hide or under-report their income get a notice from the tax department. This system is helping in preventing tax evasion and people are being encouraged to pay tax (tax payment rules) based on the correct information.

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