Modi's plan to stop tax evasion: Top 500 Indian cos may face scrutiny

The e-assessment system will require the information technology wing of the direct tax office to undergo a major revamp

India's tax assessment is set for a major revamp. In order to improve ease of doing business and curb corruption, India plans to overhaul tax assessment process for top 500 companies. The measure, likely to be introduced in the federal budget in February, is in line with Prime Minister Narendra Modi's endeavour to end black money menace and tax evasion in Asia’s third-largest economy.

 

E-assessment system

 

The e-assessment system will require the information technology wing of the