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2 Ways Government's New Tax System Will Benefit Taxpayers FM Nirmala Sitharaman to inaugurate the new tax initiative to begin by IT department and government of India which would bring ease in business and taxation process for public

By Vinayak Sharma

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Finance Minister Nirmala Sitharaman will inaugurate the National e-assessment centre (NeAC) today which will bring ease in the process of paying tax and would help tax payers to rectify their questions digitally through mails and websites.

Indian tax payers have been facing hurdles in taxation system like non-payment of tax on time, non-clarification of tax norms and uncertainty in tax figures. To make these tasks easy and convenient for the particular group, government is planning to introduce a new digital platform named (NeAC) National e-Assessment Centre.

Here are the 2 Ways How (NeAC) would expedite the tax process and business for the tax payers

Digital Approach- Process expedience

Under the new framework, citizens will receive updates on their registered mails as well as on enlisted accounts on the web-based interface for filing income tax returns with SMS alert on their enrolled mobile number, indicating the issues for which their cases have been selected for scrutiny.

It would be accessible for the tax payers to get information about the tax updates and their records online, along with the instant replies to their mails. This would make the tasks convenient for the public and simultaneously would avoid the late ITR filing.

Related Article: Why Cut in Corporate Tax Rate for New Manufacturing Units makes India Stand Out Among Asian Peers

(NeAC) – Efficient and Transparent

According to tax officials, the new initiative shall impart greater efficiency, transparency and accountability in the assessment process. There would be no physical interface between the tax payers and the tax officers," The initiative will curtail the hurdles faced by the public while recalling their past records and comparing the tax schemes and norms with the past years.

With bringing in the new initiative, government has attempted to make tax system transparent. It used to be the process in which few officials or Chartered Accountants were accused of charging irrelevant prices from the tax payers. However, (NeAC) would assist public to create easy ways in filing ITRs through credible sources or getting information related to the taxation through online processes. This is another initiative by CBDT in the field of ease of compliance for our tax payers.

The setting up of National e-Assessment Centre (NeAC) of the Income Tax Department is a momentous step towards the larger objectives of better taxpayer service, reduction of taxpayer grievances in line with Prime Minister's vision of "Digital India' and promotion of ease of doing business.

Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman to inaugurate the National e-Assessment Centre ( NeAC) in New Delhi today, in the presence of Shri Anurag Singh Thakur, Minister of State for Finance & Corporate Affairs . Dr. Ajay Bhushan Pandey, Revenue Secretary, Shri Pramod Chandra Mody, Chairman, CBDT will also be present. Officers of the Income Tax Department and other dignitaries shall also be linked through Multimedia Video Conferencing at Mumbai, Chennai, Kolkata, Delhi, Ahmedabad, Hyderabad, Pune and Bengaluru.

Vinayak Sharma

Entrepreneur Staff

Correspondent, Entrepreneur India

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