Government to launch a mobile phone app for taxpayers to access income tax services

The revenue tax division might quickly have a mechanism in place that may permit taxpayers to rectify their auto-generated monetary assertion by means of the e-filing portal itself. The division additionally plans to launch a cell phone software for all tax-related companies equivalent to particulars of tax credit score, excellent calls for, tax funds, e-verification of returns and standing of refunds, two officers mentioned.

The revenue tax (I-T) division — which possesses particulars of key monetary transactions undertaken by people, company or trusts — has already began sharing the info with the taxpayers in order that they file their annual tax return appropriately. The suggestion that they need to be allowed to amend this knowledge in case of any discrepancy is into consideration, the officers mentioned, requesting anonymity.

The Central Board of Direct Taxes (CBDT) launched a brand new Form 26AS in July this 12 months to handhold taxpayers in submitting their appropriate revenue tax returns (ITRs). The new kind now exhibits knowledge associated to money deposits and withdrawals, sale and buy of immovable properties, time deposits, bank card funds, buy of shares, debentures and international foreign money, investments in mutual funds, purchase again of shares, and money cost for items and companies. Taxpayers can entry this way by means of the e-filing portal.

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Speaking at a e book launch, CBDT chairman PC Mody mentioned the faceless evaluation goes to mark a paradigm shift within the tax administration and offering particular person taxpayers to entry his or her monetary info by means of e-filing portal shall be a step in the direction of ease of compliance. “The idea is that taxpayers should be aware that they have made these transactions,” he mentioned.

A taxpayer might prefer to amend or recommend some adjustments within the displayed info. “That functionality is currently under preparation… We are trying to do it in the shortest possible time… Shortly you will have this facility on the portal itself,” Mody mentioned. He was talking on the launch of a e book, FAQs and Surveys on Faceless Assessment, printed by tax consultancy agency Taxmann and All India Federation of Tax Practitioners (AIFTP) final Friday.

The faceless tax evaluation system was first proposed by Prime Minister Narendra Modi in 2017 and acquired a point out within the first finances of finance minister Nirmala Sitharaman on July 5, 2019. The system was subsequently launched on October 7, 2019. The system permits a random choice of tax instances by means of synthetic Intelligence and machine studying, with decreased discretion from for little or no human interface with the revenue tax division. Its goal is to utterly get rid of bodily contact between the taxpayer and the official to make tax administration goal, clear and corruption-free.

Mody requested taxpayers with everlasting account numbers (PAN) to register on the revenue tax e-filing portal to avail ease of compliance associated to taxation issues. “Through the federation I would appeal all taxpayers, particularly all PAN-holders, please register yourself on the e-filing portal. That is the first and foremost thing a PAN-holder needs to do because our communication is digital and more and more information will keep flowing, and everything will be visible on the portal. So register on the e-filing portal,” he mentioned.

He mentioned it can be crucial for taxpayers to register themselves on the portal by giving their appropriate e mail ID and cellular quantity. “Because what we are also contemplating, and that is also going on simultaneously, is the launch of an app, where we can provide this [tax-related] information on the mobile phone of the taxpayer and a lot of communication could happen through a mobile phone itself,” he mentioned.

He additionally requested taxpayers and their tax consultants to repeatedly test their emails. “It is your duty to serve your own interest, please check your email regularly and please respond to the queries raised. I would say, don’t just keep silent, respond to them… We are making all efforts that we raise very, very pointed and specific queries and we expect pointed and specific answers of those queries,” he mentioned.