GJEPC UNCUT 2020: Benefits of Faceless IT Assessment
GJEPC jointly organized an informative webinar along with top officials of the Income Tax Department on 28th August, to discuss the benefits and outline the procedures of the “Faceless Assessment Scheme, Appeals and Income Tax Charter”.
The discussion touched upon the benefits of new faceless assessment, appeals and Income Tax Charter and how the new Faceless system will be better than the existing Income tax system of filing.
The speakers included Mrs. Lekha Kumar, IRS, Chief Commissioner of Income Tax, Mumbai, Mr. Rajesh Ranjan Prasad, IRS, Principal Commissioner of Income Tax, Mumbai, and Mr. D. K. Chhablani, IRS, Principal Commissioner of Income Tax, Mumbai. The discussion was moderated by Mr. Sanju Kothari, Convener, Banking, Insurance and Taxation Committee, GJEPC.
In the Union Budget of 2019, the Finance Minister had proposed the introduction of the faceless e-assessment scheme that sought to eliminate the human interface between the taxpayer and the income tax department. From the 13th of this month, the e-assessment scheme of 2019 has been amended to the “Faceless Assessment Scheme”.
The IT guest speakers at the GJEPC webinar threw light on the procedures to carry out a faceless assessment through electronic mode.
In her opening remarks, Mrs Lekha Kumar, hailed the historic step of the Government, and said that the scheme highlighted the fact that India’s IT Department has been setting the best practices in the world for a long time. “The IT Department has always been at the frontline of innovation and taken steps to help tax assessees. This Faceless Assessment Scheme will further add to the ease of doing business,” she said, adding, “The IT Department has leveraged technology since 1994-95 by issuing unique PAN cards to identify assessees. Technology has come to our rescue to provide advanced services through error-free and unbiased, faceless assessment procedures.”
Here are some of the key takeaways:
The IT Department is committed to provide fair, courteous and reasonable treatment, maintain confidentiality, collect the correct amount of tax, provide mechanisms to lodge complaints, among others.
It expects taxpayers to be compliant and honest, respond and pay in time, keep accurate records. The assessment will be done through e-communication, e-verification and e-response.
The e-assessment scheme hopes to impart greater efficiency, transparency and accountability by eliminating interfaces to the extent it is feasible technologically; and introducing team-based assessment with dynamic jurisdiction.
All cases other than those assigned to Central & International Taxes will be done through Faceless e-Assessment.
In order to maintain an unbiased stance, the Faceless Assessment System will randomly allocate cases through an automated system, notices will be issued electronically and centrally from the NEAC in Delhi.
The NeAC will be the single point of faceless contact between the taxpayer and the IT Department.
There will be no physical meetings with any officer, and the officer’s identity will remain unknown
The assessment will be done by four different teams to be objective and fair.
Fielding many queries from attendees at the webinar, Mrs Kumar assured that the Council is welcome to send in queries pertaining to trade’s taxation issues so that the IT Department can iron out the challenges which the trade may face while filing their returns electronically.