Towards the assessee, the Central Board of Direct Taxes (CBDT) simplified the method of authentication of the electronic records in proceedings of faceless tax assessment. The central government had revised the income tax rules 1962 to furnish the records submitted via the account of the assessee in the income tax departments portal should be considered to authenticate through the assessee via electronic verification code.
Income Tax Act Revisions
- Through the revisions, the submission of the electronic record through the assessee via logging to the enrolled account in the assigned portal of the income tax department shall be acknowledged authenticated through EVC towards the intention of section 144B(7)(i)(b) of the Income Tax Act, 1961, IANS reported
- But beneath the laws, the clear process of authentication through EVC is not available for specific individuals like companies, tax audit cases, etc., and they are essentially needed to authenticate the electronic records through the digital signature. It had chosen that the easier procedure of the authentication through the EVC shall be furnished towards the segment of the assessee as per the information from IANS
- Thus the individual who is essentially needed to authenticate the electronic records through the digital signature will be eligible to have the authenticated electronic records when they furnish the record via their enrolled account for the income tax departments portal under the IANS report
- The government shall build the legislative revisions for the same at the time, IANS told the news
- On the other hand, the CBDT had allowed furnishing the tax settlement applications towards the period up to Jan 31 through Sept 30 stated by IANS
- Now it is declared that this application can be furnished prior to the interim board for the settlement through the assessee who had a due case in which the filings had not been executed before as per the IANS report.
