New Delhi: The Ministry of Finance on Tuesday said electronic records delivered through a taxpayer account registered in the Income Tax Portal must be considered as an upright by taxpayers with the Electronic Verification Code (EVC).
The CBDT Council of Direct Tax Center (CBDT) changes income tax rules on Monday to facilitate the authentication of records delivered in a faceless assessment process.
The ministry said the changed rules provide that electronic records submitted through taxpayer accounts in the Department of Income Tax Department will be considered as an upright by taxpayers with the electronic verification code (EVC).
“Therefore, where someone submits an electronic record by entering his registered account in the designated portal from the Income Tax Department, it will be assumed that electronic records have been answered by EVC …” he said.
The ministry said the simplified process would also be available for companies, or tax audit cases and they were asked to authenticate electronic records with digital signatures.
“To provide benefits from the authentication process simplified by EVC to these people (such as companies, tax audit cases, etc.), it has been decided to expand the authentication process that is simplified by EVC to these people too,” The Ministry added.
Therefore, the assessors requested to authenticate electronic records with digital signatures will be considered to have authenticate electronic records when they send records through their registered accounts in the Income Tax Department Portal.
The legislative amendment in this case will be taken in time.