PANEL DISCUSSION ON TRANSPARENT TAX- A LANDMARK MOMENT IN INDIA’S TAX HISTORY

Prime Minister Narendra Modi on August 13, 2020 rolled out faceless assessment interface to ensure a transparent tax environment by eliminating physical interface between tax authorities and taxpayers. The prime minister said this will end the era of “jaan pehchan” (acquaintance) to get scrutiny or notices settled. PM also unveiled taxpayer charter outlining rights and obligations of taxpayers.

Till date the taxpayer always knew the tax officer carrying on the assessment proceedings and could visit tax office for explaining the case. Going forward majority of the Assessment Notices, will be sent only by the centralised computer system, and taxpayer has to respond to them electronically without the requirement of visiting a tax office or meeting any official. Further, most assessment orders will have to be passed by National e-Assessment Centre through the Faceless Assessment Scheme, 2019. The Taxpayer will not even know the tax officer doing his assessment. Further instead of a single officer carrying on the assessment, multiple units of tax officers would be involved in a single assessment – Assessment unit, Verification unit, Technical unit & Review Unit.

CTC has organized this panel discussion to understand the changing dynamics of interaction with the tax department by inviting luminaries from Income Tax Department , leading Sr. Advocate & Chartered Accountant – who shall discuss and throw light on the new system of Faceless Assessment and Appeal Proceedings.