ITR Update: Big news for taxpayers, now paying income tax will be even easier..
The Income Tax Department has decided to give more convenience to its taxpayers. For this, the government is going to make the faceless income tax assessment system more taxpayer-friendly. The IT department has received many recommendations in this regard, in which taxpayers have talked about improving the faceless assessment system.
After the faceless system was implemented in April 2021, human intervention in filing and investigating income tax returns has ended. Now all the work is done through an AI-based electronic system. Even the work of any tax dispute and its assessment is being done through the faceless system. But now there is an effort to make this process easier. Currently, under this system, the Income Tax Department does the work of return processing, refund, tax assessment, scrutiny, and appeal management.
What can be the changes?
Sources related to the matter say that now the faceless assessment system will be prepared on a hybrid model. This system will give taxpayers the option of resolving the problem through faceless and in-person resolution i.e. machine and human intervention. The taxpayer can choose any one method according to his convenience. After the implementation of the new system, the problems arising in ITR will be resolved quickly and easily.
The video conferencing system will remain in force
Even though the Income Tax Department is implementing the new system, the video conferencing-based assessment system currently available will also be kept in force. Both individual and business taxpayers had demanded the Income Tax Department to implement in-person interaction. This will help in resolving any tax dispute quickly.
What do experts say
EY's Tax and Regulatory Services Partner Sudhir Kapadia says that the implementation of the new system, it will help in solving especially big and complex cases. Many times it happens that taxpayers do not get enough time to upload their facts and documents. The new system can solve this problem. Kapadia says that this can also get rid of long queues for tax disputes.
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