digitalisation of tax system in india a critical analysis - IIP Series

Publication Type: Edited Book

DIGITALISATION OF TAX SYSTEM IN INDIA: A CRITICAL ANALYSIS

Book Name: Futuristic Trends in Social Sciences V3B22
Authors: Beeda Bhavitha
Keywords: Tax; digitalisation; tax administration; taxation system; government; revenue.
Area/Stream: / Sociology /
Published in: IIP Series
Volume: 3, Month:May,Year:2024
Page No.: 79-94
e-ISBN: 978-93-5747-412-2
DOI: https://www.doi.org/10.58532/V3BBSO22P1CH11

Abstract:

The digitalization of the tax system has emerged as a transformative force, revolutionizing the landscape of tax collection, reporting, and administration. This abstract explores the multifaceted aspects and far-reaching benefits of this paradigm shift.

Digitalization encompasses the integration of technology and digital tools to streamline once labour-intensive processes. Efficiency gains are achieved through automated data entry, real-time validations, and accurate calculations. This leads to faster processing times, reducing delays in tax refunds and easing the burden on taxpayers. Moreover, the transition to digital platforms significantly curtails costs associated with paper-based documentation, physical storage, and manual labour.

Enhanced compliance stands out as a pivotal outcome of the digital revolution. With user-friendly interfaces and guided workflows, taxpayers find it easier to meet their obligations. Real-time data exchange between taxpayers and tax authorities, coupled with data analytics, equips authorities with insights into compliance patterns, enabling more informed decision-making and targeted enforcement.

The digital transformation also redefines transparency and accountability. Online portals provide taxpayers with direct access to their financial history and obligations, bolstering trust in the tax system. This transparent approach benefits both taxpayers and tax authorities, fostering a collaborative relationship.

Furthermore, the digitalization of tax systems has profound environmental implications. Reduced paper consumption and streamlined operations contribute to a more sustainable approach to tax administration.

In conclusion, the digitalization of the tax system represents a landmark evolution in governance. Its impacts extend beyond administrative efficiency to encompass compliance, transparency, environmental responsibility, and improved taxpayer experiences. This abstract underscore the imperative of embracing technology to reshape the future of taxation.

Cite this: Beeda Bhavitha, DIGITALISATION OF TAX SYSTEM IN INDIA: A CRITICAL ANALYSIS, In: Futuristic Trends in Social Sciences V3B22, IIP Series, Volume 3, May, 2024, pp. 79-94, Iterative International Publishers IIP, E-ISBN: 978-93-5747-412-2, DOI: https://www.doi.org/10.58532/V3BBSO22P1CH11

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