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Tax-friendly regime likely in Budget 2018-19

The Income Tax Act might be amended to give effect to "jurisdiction-free assessment"

Tax, Stressed firms, Tax exemption, IBC, Insolvency, Illustration: Ajay Mohanty
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Tax, Stressed firms, Tax exemption, IBC, Insolvency, Illustration: Ajay Mohanty

Dilasha Seth New Delhi

The Budget might overhaul the income tax administration and assessment system to lower taxpayer harassment and improve efficiency of officers.

The Income Tax Act might be amended to give effect to “jurisdiction-free assessment”, which means that any officer can send a notice to any taxpayer in any jurisdiction electronically. 

Assessments would be done through e-mails, eradicating human interface.  

“The move is aimed to lower corruption and harassment cases and also improve the department’s efficiency. It is a taxpayer-friendly measure. It is expected to come into effect from the next fiscal year,” said a government official. He explained