Mumbai: The Income Tax Charter launched by Prime Minister Narendra Modi on Scheme of faceless E-Assessment is set to be a game changer in maintaining anonymity of interface between both the assessor and the assesse. The digitalisation in the form of E Assessment will no doubt lead to transparent tax administration. And further operationalise fair and just assessment only if implemented in letter and spirit as announced being the part of Ease of Doing Business, stated Vijay Kalantri, president, All India Association of Industries (AIAI).
Faceless access to tax assessment, as part of the structural reforms, will not only aide nation building but also assist Ease of Doing Business, fulfilling the pledge of Minimum Government and Better Governance, with a fair chance of appeal.
There will be an elimination of CAs, Consultants, Advocates and various other intermediaries and manipulative practises which lead to disputes and distortions in revenue collection added Kalantri.
AIAI further feels that the scheme evolves in-built principle of dignity and respect towards tax payers and non-physical human interface will avoid unfair practices and undue additions to the Assesse.
AIAI further welcomes the National E-Assessment Centre (NEA a single point unit to decide on issue of Assessment order, raising of demand, receiving of evidence and issue of notices and information in context to digital Assessment along with one to one interaction by video conferencing. This will not only reduce time period but also paper work and fair trial to tax payers.
The AIAI chief further expressed that this opportunity will go a long way not only in building up confidence and generally creating Tax friendly Department but also give confidence to overseas and domestic investors to come forward and make investment and pay their taxes fairly.
AIAI further feels that the process in its new Avatar however will not result into the older practice as happens in most of the cases. The older processes allowed irrational additions and disallowance not only consuming time but also blockage of funds of both the tax payer and Government. Both the assessor and the assesse have lost the race with the assesse laden with high litigation cost and the assessor, the Department, losing over 85 % of its revenue, that too, over long time periods of over 8 years.