Monday, September 27, 2021

CBDT amends Income-tax Rules to ease authentication of electronic records submitted in faceless assessment proceedings

Central Board of Direct Taxes (CBDT) has amended the Income-tax Rules to ease authentication of electronic records submitted in faceless assessment proceedings.

The Finance Ministry said electronic records submitted through registered account of the taxpayers in the Income-tax portal shall be deemed to have been authenticated by the taxpayer by electronic verification code. The move will ease the process of authentication of electronic records in faceless assessment proceedings. The Ministry said this simplified process will also be available to companies and tax audit cases.

Earlier, companies and tax audit cases are mandatorily required to authenticate the electronic records by digital signature.

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