The Income Tax Department will use data mining and risk profiling rather than intrusive methods for tax collection, Revenue Secretary Ajay Bhushan Pandey said while exuding confidence of achieving the direct tax mop-up target for the current fiscal.
New Delhi:
“We will use data mining, risk profiling and risk assessment rather than intrusive methods. Today we commit to end the fear of notices and scrutiny which can be achieved only through randomised faceless assessment and verification,” Pandey said while addressing tax officers at the 159th Income Tax Day event here. Income tax was introduced for the first time in India on July 24, 1860, by James Wilson to compensate for the losses incurred by the British regime during the first war of independence against British rule.
Pandey said the tax administration has undergone significant changes in recent years and the role of tax officers has changed from tax enforcers to that of a tax facilitator.
In the 2019-20 Budget, the Centre has set a direct tax collection target of Rs 13.35 lakh cr, which includes Rs 7.66 lakh cr being collected as corporate taxes and Rs 5.69 lakh cr as income tax. As per the revised estimates for 2018-19, the government collected Rs 12 lakh cr from direct taxes, of which Rs 6.71 lakh cr was from corporate taxes and Rs 5.29 lakh cr from income tax. “The direct tax collection has been growing on an average double digit in last 5-6 years. The department will achieve the budget target set for this fiscal.
“We will use data mining, risk profiling and risk assessment rather than intrusive methods. Today we commit to end the fear of notices and scrutiny which can be achieved only through randomised faceless assessment and verification,” Pandey said while addressing tax officers at the 159th Income Tax Day event here. Income tax was introduced for the first time in India on July 24, 1860, by James Wilson to compensate for the losses incurred by the British regime during the first war of independence against British rule.
Pandey said the tax administration has undergone significant changes in recent years and the role of tax officers has changed from tax enforcers to that of a tax facilitator.