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Direct Tax Panel Proposes Using AI for Tax Compliance
August 22, 2019
Under the headship of Akhilesh Ranjan, the direct tax panel has recommended several changes in the income tax system, one of which is using artificial intelligence technology in the administration and tax compliance processes. Sources said that this will help bring more individuals under the direct tax ambit.
The panel has also recommended that collaborative compliance be introduced in IT administration that can organize and merge the data collected from the banks, GST network, and other financial institutions. This can help increase the scope of taxable income, it said.
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