Income Tax department might follow the GST path
India is soon going to follow the one-nation, one-tax principle after the implementation of the goods and services tax (GST) from July 1. However, the same principle might be adopted in a much more broader sense and this time specifically by the Income Tax Department.
The department might take a path-breaking initiative of jurisdiction-free assessment of incomes, which would mean that a Delhi-based taxpayer could be assessed by an income tax officer based in Lucknow.
If taken, this would be a significant leap toward eradicating corruption because of lesser need for face-to-face contact between citizens and tax officials to the absolute minimum. It would also speed up the processing because of least requirement of interactions.
The step would involve amending the income tax law and would also end the relevance of various geographic locations presently divided in wards and circles.
The move was suggested by a high-level internal report of the Central Board of Direct Taxes (CBDT), and is being considered enthusiastically for being implemented in the next financial year. India is soon going to follow the one-nation, one-tax principle after the implementation of the goods and services tax (GST) from July 1. However, the same principle might be adopted in a much more broader sense and this time specifically by the Income Tax Department.
The department might take a path-breaking initiative of jurisdiction-free assessment of incomes, which would mean that a Delhi-based taxpayer could be assessed by an income tax officer based in Lucknow.
If taken, this would be a significant leap toward eradicating corruption because of lesser need for face-to-face contact between citizens and tax officials to the absolute minimum. It would also speed up the processing because of least requirement of interactions.
The step would involve amending the income tax law and would also end the relevance of various geographic locations presently divided in wards and circles.
The move was suggested by a high-level internal report of the Central Board of Direct Taxes (CBDT), and is being considered enthusiastically for being implemented in the next financial year.