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Interim Budget 2024: Technology has eased tax-filing thanks, in part, to pre-filled forms. But mass tax-notices and erroneous notices have caused confusion. And dispute resolution needs to improve.
Budget 2024-25: The Central Board of Indirect Taxes and Customs (CBIC) is currently analysing the technological requirement and upgrade needed and is debating the additional cost impact vis-a-vis the slowdown of processes
Budget 2024: Many double taxation avoidance treaties have been forged and annual information statements capture tax details, but there is a need to shift procedures to digital mode for NRIs too.
Budget 2024: The government has made the process for filing returns easier and accessible, but more reforms are needed, particularly with respect to long term capital gains tax. Also, over the last decade filing returns has become completely automated but getting timely redressal remains an issue.
According to Forrester's (Nasdaq: FORR) 2024 Planning Guides, more realistic budget expectations will serve leaders well as they enter 2024, but now is not the time to hunker down as stakeholder expectations for growth remain steadfast. Additionally, to accelerate growth and keep pace with the evolving expectations of empowered digital customers, leaders should consider investing in and experimenting with AI. A versatile AI approach can deliver a broad range of solutions across operations that c