The income tax department has newly launched e-assessment scheme, which seeks to end the physical interface between the assessee and tax officials. Revenue secretary Ajay Bhushan Pandey, who inaugurated the national e-assessment ecosystem in the capital on Monday, said it was an important milestone in the history of the tax department.
Electronic notices have already been shared for the cases pertaining to the assessment year 2018-19 (FY-18). The IT department said that “taxpayers have been advised to check their registered e-filing accounts/email ids and have been requested to furnish a reply within 15 days.”
Under e-assessment, cases will be referred to eight different e-assessment units across the country automatically. This is expected to improve transparency and reduce grievances related to over-pitched assessments, as well as litigation, it added. CBDT officials said the better assessment of income by removing individual discretion, could help boost the government’s revenues.
Read EquityPandit’s Nifty Outlook for the Week