Income-tax digitalisation in India has been saved
Income-tax digitalisation in India
The income-tax administration in India is a pioneer in introducing automation in the tax function with electronic filing of tax and income tax returns, paperless correspondence, and faceless assessments, amongst others, creating a structured income-tax portal. Digitalisation redesigned the way information is collected and acted upon by tax administrators, evident from new tax policies, methods of conducting audits/investigations, and more. The tax administration is now advancing towards its next major initiative, "Project Insight," an integrated data warehousing and business intelligence platform.
While technology plays a significant role in helping businesses, especially in data management and ensuring ease of compliance, it encourages taxpayers to adopt automation and modernise and expedite operations. Today, as taxpayers focus on sophisticated prediction and data analytics, organisations journey towards proactively adopting digital tools, transforming their tax functions. As we proceed with transformation, the next step would be data extraction with automation, which can encompass unified solutions in reconciliations and computations, ultimately leading to tax filings.