Income tax officers will be able to check the digital accounts of taxpayers. The new rules will be applicable from April 1, 2026. The new income tax bill has increased the rights of tax authorities. On suspicion of tax evasion, Income Tax Officers will be able to check the email, social media, bank accounts, trading platforms and other online investment of taxpayers. Claus 247 of the new Income Tax Bill provides for this.
Income tax officers will increase rights
Still Income Tax Officers have the right to search and seizure the physical assets of taxpayers when the income tax authorities are suspected of tax evasion. They can break the closed doors of the room for investigation. Clocal can break the lock to check almira. You can also check lockers. New Income Tax Bill (New income tax bill) Tax authorities have also been given the rights to investigate digital assets. This means that they can break into the taxpayers computers, emails and online financial accounts to check them.
Officers will reach virtual digital space
The new Income Tax bill mentions the virtual digital space. It states that social media platforms will come under virtual digital space. This will include taxpayers’ accounts on social media platforms like Facebook, WhatsApp and Estagram. Taxpayers will include email accounts. Trading platforms, cloud storage and online bank accounts will come under it.
Taxpayers will also have digital scrutiny
Experts say that due to the increase in the rights of income tax officers, there will also be a digital scrutiny of the taxpayer. Tax officials will be able to enter digital space without passwords taxpayers. This will increase the tax compliance and will curb black money. Experts say that if the taxpayer wants that there is no need to break into his digital space, then he will have to provide every information sought to the tax authorities in advance.
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Considering new tax bill of Parliament’s Standing Committee
The government has introduced the new income tax bill in the Lok Sabha. It has been sent to the Standing Committee of Parliament on Finance for extensive discussion. After the recommendations of the committee, it will be implemented by amending the necessary amendments. It is believed that the government will implement new income tax laws from April 1 next year.