AKGVG Tax Update
Dear Reader,
Greetings from AKGVG & Associates!!
We are pleased to share AKGVG's Tax Update, dated 14th August, 2020 which includes:
Date: 14.08.2020
PM Modi announced Transparent Taxation Platform

The Indian Prime Minister Mr Narendra Modi has rolled out a scheme to incentivize honest tax payers 13.08.2020 via video conference, entitled “Transparent Taxation – Honoring the Honest”. Recently, several initiatives have been taken by the Central Board of Direct Taxes (CBDT) for bringing in efficiency and transparency in the functioning of the income tax department.  The scheme will further carry forward the journey of direct tax reforms. It can be categorized in three major headings namely:

  1. Faceless assessment: Any assessment other than faceless assessment will be invalid.
  2. Faceless appeal: Appeals will be randomly allotted to any office across the country and the identity of deciding officer shall be kept confidential.
  3. Taxpayer’s Charter: It lays down the commitment of government towards tax payers and obligations of the tax payers.

Faceless assessment & Taxpayer’s charter are effective immediately whereas facility of faceless appeal will be available for citizens across the country from 25th September, 2020.
The introduction of the scheme has unveiled new horizons of transparent tax administration thereby imparting efficiency and  accountability, eliminating physical interference between the taxpayer and tax officers using technology, data analytics, AI and empowered and benefited honest tax payers. The Indian government has marked the launch of the platform  a landmark in history of tax administration.

We trust you will find this Journal informative as well as useful.
For any queries, you can write to us at "info@akgvg.com".
Looking forward to receive your valuable feedback

Disclaimer: This insight is meant for informational purpose only and should not be considered as an advice or opinion, or otherwise, whatsoever. AKGVG & Associates does not intend to advertise its services through this insight. AKGVG & Associates is not responsible for any error or omission in this insight or for any action taken based on its contents.

Best Regards!
Knowledge Updates Team
AKGVG & Associates
(Chartered Accountants)

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