Why in News?
Faceless E-Assessment Scheme will bring about various benefits for taxpayers one of which is Ease of Doing Business.
About Faceless –E-Assessment Scheme
- Aimed at moving to faceless scrutiny and elimination of human interface.
- Faceless e-Assessment process by the Central Board of Direct Tax (CBDT) for income tax returns a step towards achieving the objective of to create a taxpayer-friendly ecosystem by introducing greater transparency, simplification, and ease of meeting tax compliance.
- Under the new system, taxpayers won’t have to visit territorial jurisdiction tax officers or the income tax department on receiving income tax scrutiny or assessment notices.
- National e-Assessment Centre (NeAC) is the main gateway for communication between the taxpayers and the tax authorities.
- Besides Regional e-Assessment Centers across 20 cities including Delhi, Mumbai, Kolkata and Chennai, under the faceless assessment scheme.
Benefits of the Scheme
- Significant reduction in the delay in tax assessments and audits.
- Reduce huge unnecessary harassment of taxpayers.
- Encourage voluntary tax compliance.
- Greater transparency, ease of managing tax issues and creating an overall taxpayer-friendly ecosystem.
- Also cost of filing will dramatically come down.
Source : PIB
Topic
GS II : Important aspects of governance, transparency and accountability, e-governance- applications, models, successes, limitations, and potential; citizens charters, transparency & accountability and institutional and other measures.
Current Affairs Compilation : 31 August 2020