The government plans to overhaul the 6-decade old IT act. The task force appointed by the Govt. has submitted its report suggesting an increased use of technology for Income Tax administration.
The committee feels that the use of technology in direct taxes can help increase the tax-base by compelling the potential tax-payer to be a part of the tax-net.
It also states that AI can help make the system foolproof, make tax-evasion difficult, reduce the chances of manual intervention thus reducing tax leakages.
