Nirmala Sitharaman also announced a rollback of enhanced surcharge on foreign portfolio investors (FPIs) levied in the Union Budget.
New Delhi: Finance Minister Nirmala Sitharaman and and MoS for Finance Anurag Thakur during a press conference in New Delhi, Friday, Aug 23, 2019. (PTI Photo)
Loading…
New Delhi: Union Finance Minister Nirmala Sitharaman on Friday announced that faceless scrutiny of income tax (I-T) returns will be implemented from Vijaya Dashami day in October this year.
The centre had recently announced the new practice aiming to cut down the interaction between taxpayer and income tax officer. The Finance Minister in her budget speech had described the move a ‘paradigm shift’ in the I-T department’s functioning.
“There will be faceless scrutiny from Vijaya Dashmi day this year which will mean there shall not be one odd over enthusiastic officer who might go and sit and talk about things which may be construed as harassment. That will not happen because the whole process is going to become faceless and it will be randomised. Big Data details are being utilised,” Sitharaman said while addressing the media today.
As per to the new practice, the assessing officer would not know the taxpayer’s identity and would use only the online filing and technology platfor to scrutinise the details. Under the present practice, a taxpayers have to appear before an I-T department representative.
Nirmala Sitharaman also announced a rollback of enhanced surcharge on foreign portfolio investors (FPIs) levied in the Union Budget, as part of measures to improve the ease of doing business and arrest the slowdown in the country.
Get the best of News18 delivered to your inbox – subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what’s happening in the world around you – in real time.
Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months. Use code FREEDOM.
Source: News18