Скачать или смотреть New income tax bill : expect simplified rules, digital focus and reduced litigation @samaypandit

The new income tax bill, expected to be introduced in India soon, aims to simplify the tax system, focus on digital processes, and reduce litigation. Here's a breakdown of what you can expect:
Simplified Rules:
Consolidated and concise: The new bill seeks to consolidate existing provisions and make the law more concise and easier to understand.
Clearer language: The bill aims to use simpler language, avoiding complex terminology and legalese.
Reduced sections: The number of sections and clauses in the income tax act is expected to be reduced, making it less cumbersome.
Digital Focus:
Online filing and processing: The new bill is expected to promote online filing of returns and other tax-related processes.
Digital communication: Communication from the tax department is likely to be primarily digital, reducing paperwork and delays.
E-assessment: The bill may further emphasize e-assessment procedures, reducing the need for physical interaction with tax officials.
Reduced Litigation:
Clearer provisions: Simplified rules and clearer language are expected to reduce ambiguity and potential disputes.
Faster dispute resolution: The bill may include provisions for faster resolution of tax-related disputes.
Reduced scope for interpretation: By making the law more straightforward, the bill aims to reduce the scope for differing interpretations, which often lead to litigation.
Overall, the new income tax bill is expected to make the tax system more efficient, transparent, and user-friendly. It is designed to benefit both taxpayers and the tax administration by simplifying processes, promoting digital transactions, and reducing litigation.