Home Current Affairs 2019 for Competitive Exams Current Affairs Today FM inaugurated Income Tax Departments NeAC

FM inaugurated Income Tax Departments NeAC

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Finance Minister Nirmala Sitharaman inaugurated the Income Tax Department’s National E-assessment Centre (NeAC) on 7 October. The launching of NeAC is in line with the Prime Minister’s vision of Digital India. Aim: NeAC aims to reduce face-to-face interaction between taxpayers and tax officials. The setting up of NeAC will improve the taxpayer service. It will also reduce the grievances of taxpayers. The centre will promote ease of doing business.  Functions of the NeAC: ♦ The initiative will impart greater efficiency, transparency, and accountability in the assessment process.  ♦ It will put an end to the physical interface between the tax payers and the tax officers. ♦ Under the new system, the taxpayers will receive notices on their registered e-mails and on the registered accounts on the web portal https://ift.tt/1dxxFKf. ♦ The taxpayers will also receive real-time alerts through SMS on their registered mobile number. It will specify the issues for which their cases have been selected for scrutiny. ♦ The notices can be prepared by the taxpayers at their own residence or office and be sent by email to the NeAC by uploading the same on the designated web portal.

from Current Affairs 2019 for Competitive Exams Current Affairs Today Finance Minister Nirmala Sitharaman inaugurated the Income Tax Department’s National E-assessment Centre (NeAC) on 7 October. The launching of NeAC is in line with the Prime Minister’s vision of Digital India. Aim: NeAC aims to reduce face-to-face interaction between taxpayers and tax officials. The setting up of NeAC will improve the taxpayer service. It will also reduce the grievances of taxpayers. The centre will promote ease of doing business.  Functions of the NeAC: ♦ The initiative will impart greater efficiency, transparency, and accountability in the assessment process.  ♦ It will put an end to the physical interface between the tax payers and the tax officers. ♦ Under the new system, the taxpayers will receive notices on their registered e-mails and on the registered accounts on the web portal https://ift.tt/1dxxFKf. ♦ The taxpayers will also receive real-time alerts through SMS on their registered mobile number. It will specify the issues for which their cases have been selected for scrutiny. ♦ The notices can be prepared by the taxpayers at their own residence or office and be sent by email to the NeAC by uploading the same on the designated web portal. https://ift.tt/2LTucMz

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