Digital Accounting, Faceless Assessment & March 2020 GST Return

Digital Accounting

COVID-19 gives us a lesson to work from anywhere and not necessarily from fixed office place. Rendering accounting service from anywhere needs transformation of physical accounting system to digital accounting system. It is advantageous to business owners in many ways viz. business owners get accounting information readily and accelerate speed of business taking prompt decision. Faceless Assessment Govt. unveils faceless I-T assessment, opens National e-Assessment Centre. The e-Assessment Scheme introduces the concept of team-based assessment with dynamic jurisdiction which would bring about transparency, efficiency and standardisation of procedures by eliminating human interface between the taxpayer and the Income Tax department. Departments going digital generates more and more information about assessee their bank transactios, revenues, expenses, investments etc.

Read more at: https://taxguru.in/chartered-accountant/digital-accounting-faceless-assessment-march-2020-gst-return.html
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