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News INCOME TAX

  • Jun 26, 2024
  • Makeover likely to give faceless I-T assessment a friendlier face

    India is reviewing the 'faceless' income tax (I-T) assessment mechanism to make it more taxpayer-friendly, following suggestions that the programme can be made more effective.

    A hybrid formula is being examined that could allow taxpayers to pick either the faceless scheme or in-person resolution, people familiar with the development told ET.

    "It is being reviewed to assess effectiveness," said an official, adding that there is a line of thinking that it should be made optional for taxpayers. Another official said the idea is to address challenges in its implementation to ease compliance further for taxpayers. A final call will be taken shortly, the official said.

    The scheme was introduced on April 1, 2021, to reduce the human interface in tax disputes and assessments. Under the system, the income tax department processes returns, issues refunds, conducts tax assessments and scrutiny, and manages appeals. The assessing officer is assigned cases at random, without following geographical jurisdiction.