Telangana

Experts vouch for faceless income tax assessment, say it’s here to stay

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HYDERABAD: Faceless income tax assessment for taxpayers is working and it is here to stay, said JB Mohapatra, Principal Chief Commissioner of Income Tax - AP & TS, during an Interactive session on ‘Transparent Taxation’ here on Friday. 

Several members, tax payers and officials, academia and corporate executives participated in the webinar organised by the FICCI Telangana State Council on YouTube. Mohapatra observed that the initiative was well-received. 

“Faceless assessment is successful. Though there are some teething troubles such as infrastructure, bandwidth and technology glitches, it will be overcome without any difficulty. The standards were being set out and the facilities sourced up,” he said.

Mohapatra further said tax rates are falling and the people are expecting it go reduce even more but they may be disappointed. The rates may not go further down because the government needs revenue, failing which 104 departments would crumble.

Mallika Arya, Chief Commissioner, GST & Customs, said the GST compliance in Hyderabad is good. FICCI Telangana State Council chairman T Muralidharan said tax compliance is a national duty. People-friendly tax administration must happen along with change in taxpayers’ attitude. He suggested that tax collections should increase and the cost decline. 

Murali Krishna Reddy, co-chairman of FICCI Telangana State Council, said Prime Minister Modi aims to set up a transparent tax system. His vision is minimum government and maximum governance. Dilip Chenoy, secretary general of FICCI, spoke on IRIS Peridot, an app that helps verify a GSTIN by validating it with the GST system. For valid GSTINs, the status of returns filed can also be viewed in the app. IRIS Peridot is a searchable data repository and is available via APIs. It has been designed to take in additional data sets in future.

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