Topics Covered: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.
Faceless tax scheme:
The government’s faceless tax assessment scheme has managed to deliver about 24,000 final orders since its introduction in August 2020.
About Faceless tax scheme:
In the Union Budget 2019, the Finance Minister proposed the introduction of a scheme of faceless e-assessment.
- It is an attempt to remove individual tax officials’ discretion and potential harassment for income tax payers.
- The scheme allows for appropriate cases where a certain hearing is necessary, so then after following protocols, a hearing is given.
- The main objective is to remove physical interaction as much as possible.
Sources: the Hindu