Govt mulls over electronic tax scrutiny for top 500 firms - News Summed Up

Govt mulls over electronic tax scrutiny for top 500 firms


India is ranked 119 out 190 countries when it comes to ease of paying taxes, according to the World Bank’s latest doing business survey. India is ranked 119 out 190 countries when it comes to ease of paying taxes, according to the World Bank’s latest doing business survey. The e-assessment system will require the information technology wing of the direct tax office to undergo a major revamp. The new system will be location agnostic as assessing officials will be chosen electronically, making their location irrelevant, the people said. The measure will also help weed out corruption associated with posting of tax officials who often seek to be based in large cities especially Mumbai, home to the headquarters of most large Indian companies.


Source: Mint December 05, 2017 03:00 UTC



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