IT Dept Planning to Launch a Mobile Application for All Tax-Related Services

In the near future, the income tax officials soon have the gesture which permits all assessments to correct their automatic generated financial statement via e-portal independently. For the filing tax services, the department indeed launches the mobile application like tax credit information, effective demands, IT return verifications Get to know about top 6 quick methods to verify income tax return by taxpayers. Also, we showcase online and offline methods along with the simple guide. Read more, tax payments, and refund monitoring.

The financial transaction relevant to business and individuals is held by the Income-tax department which previously started sharing the information with the assessee so that there are no mistakes in filing tax yearly. There is a suggestion that if there is any mistake in data then it can be changed.

A new Form 26 AS Steps to view and download the tax credit statement traces form 26AS. Also, we mention the difference between actual TDS & reflected TDS in Form 26AS. Read More has been executed by the central board of direct taxes CBDT in the current year of July to provide taxpayers in filing the right income tax returns. This new form consists of relevant information like credit card payments, share buyings, mutual funds investments, buyback of shares, debentures and foreign currency, withdrawal and deposit of cash, buy and sale of immovable properties, time deposits, payment in cash for goods and services. All these can be filed from the e-filing portal.

The faceless assessment will be provided to be a prototype through which the taxpayers can access their financial details via the e-filing portal. “The idea is that taxpayers should be aware that they have made these transactions,”

The assessee will change or recommend the alterations in the displayed data. “That functionality is currently under preparation… We are trying to do it in the shortest possible time… Shortly you will have this facility on the portal itself,” states Modi on a book launch survey and FAQs announced by All India Federation of Tax Practitioners (AIFTP).

In 2017 faceless scheme was launched by Prime Minister Narendra Modi and is displayed by finance minister Nirmala Sitharaman on July 5, 2019, in her 1st budget. With the help of artificial intelligence, the system randomly selects the cases. There is no human interface of the income tax department All the unaccounted income and not paying up the taxes will not be fruitful from now onwards as the tax department has made it clear that it will be important for the faceless system. To remove complete contact between the assessee and the income tax department so to have a corruption-free environment.

Modi directed the assessee to enroll their PAN number with the income tax portal of e-filing so take benefits in the taxation part.

“Through the federation I would appeal to all taxpayers, particularly all PAN-holders, please register yourself on the e-filing portal. That is the first and foremost thing a PAN-holder needs to do because our communication is digital and more and more information will keep flowing, and everything will be visible on the portal. So register on the e-filing portal Check out the simple guidance of updating contact details such as mobile number, email id, etc for new and registered users on the income tax e-filing portal,”

He told the taxpayers that it is mandatory to enroll themselves on the portal by providing them the correct email ID as well as a mobile number.

“Because what we are also contemplating, and that is also going on simultaneously, is the launch of an app, where we can provide this [tax-related] information on the mobile phone of the taxpayer and a lot of communication could happen through a mobile phone itself,”

He also obliged assessee along with their tax consultants to keep update their emails. “It is your duty to serve your own interest, please check your email regularly and please respond to the queries raised. I would say, don’t just keep silent, respond to them… We are making all efforts that we raise very, very pointed and specific queries and we expect pointed and specific answers to those queries,”