The Tax Assessment System of India is getting a makeover and will now be run by Artificial Intelligence & Machine Learning.
This development surely makes things easier and will help India take one step ahead towards Digitisation.
Also, this will make India one of the first countries in the world to employ technology on a bigger scale in public tax assessment.
The Finance Minister, Nirmala Sitharaman has announced that India will soon become tech savvy where income tax assessment is concerned. Also this will be implemented very soon, from October 2019 itself.
Artificial Intelligence & Machine Learning in Tax Assessment
Financial Minister, Nirmala Sitharaman has promised that Artificial Intelligence & Machine Learning will be used in the processes of income tax assessment of the public of India.
Adopting such advanced technology will guarantee that there will be absolute transparency and ensure preciseness in the whole system of tax assessment.
The whole objective of the faceless assessment is based on the premise that tax officers are corrupt and harass taxpayers. This is not only a biased notion but also undermines the genuine work of the tax department.