New Delhi [India], July 24 (ANI) The entire life cycle from the filing of the return of income to their verification processing, scrutiny, assessment, and appeal has now been digitized end-to-end through the ‘Faceless Assessment’ initiative, which has significantly improved processing of returns and issuance of refunds, said Chairman Central Board of Direct Taxes, Nitin Gupta. It is important to note that the current form of income tax was first introduced on this same day in 1860.
While virtually addressing the taxpayers and stakeholders on the occasion of 163rd Income Tax Day, Gupta said: “22.4 per cent of the returns were processed on the same day and 75 per cent within the 30 days of their filing during the financial year 2021-22, and the during the same year the department has issued refunds of around 2.24 lakh crores.”
The faceless schemes have been implemented across the country and approximately 2.8 lakh assessments have been finalized through peer-reviewed methods. Orders have been passed in 386,000 cases.
Notably, in the Union Budget 2019, the Centre proposed the introduction of a scheme of faceless e-assessment to eliminate the interface between the assessing officer and the assessee during the course of proceedings to the extent possible.
“The taxpayer has been at the centre of the department’s reform agenda. Over the years, the department has taken several significant measures to reform itself into a progressive and efficient organization with a taxpayer-centric focus,” he added.
iting the dividends reaped from such an approach, he said that during 2021-22 the department recorded the highest ever direct tax collections in the country at 14.09 lakh crores, which accounted for 52 per cent of the total collections by the central government. The number of taxpayers filing tax returns stood at 7.14 crore by March 2022.
Speaking about the reforms on simplification, rationalization, and digitization of taxes, he said: “Concerted efforts have been made in the last eight years in the area of digitization tax compliance, instant PAN, PAN-Aadhar linking, the new e-filing portal…use of artificial intelligence and analytics in risk management and scrutiny selection.” Further, he said tax relief was provided to individual taxpayers for Covid-19-related medical treatment for himself/herself or family member for amounts received from the employer for from any person, and besides on ex-gratia received by family members on Covid-led death.
In his concluding remarks, he requested all taxpayers to join hands on the occasion of India’s 75th year of Independence and renew their pledges and reaffirm promises toward an AtmaNirbhar Bharat. (ANI)
