Government Plans This Change For Taxpayers In Budget 2018
The new budget for 2018 is just around the corner and there has been various predictions about what the budget 2018 means for the taxpayer. The government is now focusing on minimising human interaction in direct tax, with the multi-layered screening process and online feedback. The highlight of this move is that the assessment of a taxpayer will be done jurisdiction-free. This move is likely to be announced in the union budget 2018 on February 1.
The new tax regime would mean that the tax payer in Chandigarh will be assessed by a tax officer in another state. The officer will be chosen from an online system by the IT department. The process would enable a more technology-driven interaction between the tax department and the taxpayer, with the assessment not being restricted to one officer. To enable this change, the government needs to amend the Income-Tax Act to facilitate a common jurisdiction region for all taxpayers.
The tax department has already discussed with field officers on the shift to a jurisdiction-free assessment. The suggestions received from the field have been incorporated in the draft Finance Bill, 2018. The role of the tax official is likely to be divided in different directions like assessment, verification, tax demand, recovery and orders.
In addition, the tax official won’t have complete control over the tax payer. For instance, if the tax payer is asked to furnish some details by one officer, the answer will be looked into by another one on the online portal.
With all these things in the fore, the IT Department also aims to expand its feedback portal. In July 2017, the income tax department had launched a live chat service that has already clocked 8,424 users.
Budget 2018 has many ramifications for the common man. This big event, Budget 2018, is not just watched by investors and analysts community but tracked by every common man.