Today is the last day for filing income tax returns. Before making a return on Thursday, make a new record. According to data of income tax department, for the first time Thursday evening, more than 5 crore taxpayers filed their returns. This figure is 60 percent more than the previous year. Only on Thursday 20 million people filed their returns.
Penalties to be felt from September 1
After today if you file returns on yesterday ie September 1, then get ready to pay a fine of Rs.1000 and a maximum of 5 thousand rupees. On the same date, from January 1, 2019 to March 31, people will have to pay a fine of 10 thousand rupees. So if you want to avoid the penalty, then file your return today.
Now scrutiny assessment will be done electronically
With the aim of increasing transparency by the Income Tax Department, the process of scrutiny assessment will be done electronically (e-processing) for the purpose of reinvestment of corruption. The Central Board of Direct Taxes (CBDT) has sent the directive to all the Principal Chief Commissioners of the country last week.
A senior CBDT official said that the instructions issued on February 12 by the directive of this effect issued last week have been corrected. Now the officials will have to do the processing of all the assessments under section 143 (3) of the Income Tax Act in electronic form.
Although there are some exceptions, such cases will be very low. With the introduction of e-processing, any income tax payer or his representative will not be personally present before any income tax officer or inspector.
All kind of communication will be done electronically on behalf of the department from the income taxpayer and all the responses from the Assisi will be given electronically. It is notable that in the budget speech this year, Union Finance Minister Arun Jaitley had announced the introduction of e-assessments for everyone.
Addressing the Assisi will not work
According to the official, the CBDT is already trying to solve the complaints of corruption in the Income Tax Department, and under this it has already been working in a digital or electronic way. Under the new instructions issued now, all Scrutiny Assessment will be disposed of through e-processing only in the financial year 2018-19.
In this process, the income tax payer does not even know who is looking at the matter where the income tax officer is deployed. In this system, it is possible that an officer from Delhi has been appointed by an officer sitting in Chennai.
Proceedings in the old ways
According to the CBDT, seven cases have also been considered as exceptions, whose work will be done in the old fashioned way. These will include taxpayers whose assessment is under section 153 (A), 153 (c), 147 and 144 of the Income Tax Act, which do not have PAN, who filed returns in paper mode and their e-filing account Not too, they will also be processing the old way.
Personal hearing will also be
The CBDT has clarified that under certain circumstances personal income taxpayers can also be. For example, in whose book of account the examination is required, in case the witness is required to be examined or to apply Section 131 above them.