Income-Tax e-assessment from February 2018

The Central Board of Direct Taxes (CBDT), the policy-making body for the Income-Tax Department, notified a nine- member committee--headed by a Principal Chief Commissioner rank officer - and has set for it a deadline of February 28, 2018, for submitting its report. 

“The deadline of February end to the committee is an indication that the government and the CBDT want to usher in this new regime from the first half of the new year,” a senior tax officer privy to the development said. The committee is being constituted as the “department is embarking upon the concept of a faceless and nameless e- assessment procedure”, the CBDT order, issued late evening, said.

The CBDT has been running a pilot project in a few major cities and has been testing the feasibility of implementing this new regime of tax assessment for the last few years.