New Delhi: The central government has amended Income-Tax Rules, 1962 on Monday, intending to ease the authentication of electronic records, submitted in faceless assessment proceedings. The government will move forward with legislative amendments in this regard in due course.
As per the new amendment, the Government explains that, electronic records submitted through registered account of the taxpayers in the Income-Tax Department’s portal should be authenticated by the taxpayer, through an electronic verification code (EVC). ‘Therefore, where a person submits an electronic record by logging into his registered account in the designated portal of the Income-Tax Department, it shall be deemed that the electronic record has been authenticated by EVC for the purposes of Section 144B (7) (i)(b) of the Income-Tax Act, 1961’: the Central Board of Direct Taxes (CBDT) release explained.
‘However, under the existing provisions of Section 144B (7)(i)(b) of the Act, this simplified process of authentication by EVC is not available to certain persons (such as companies, tax audit cases, etc), and they are mandatorily required to authenticate the electronic records by digital signature. In order to provide the benefit of the simplified process of authentication by EVC to these persons, it has been decided to extend the simplified process of authentication by EVC to these persons also,’ CBDT official statement added.
Therefore, all those who are mandatorily required to authenticate electronic records by digital signature, will have to authenticate the electronic records, when they submit the record through their registered account, in the official portal of The Income-Tax Department.
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