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of <h1>New AI-Driven E-Assessment Scheme Launched for Income Tax u/s 147 to Boost Efficiency and Accuracy.</h1> The e-Assessment of Income Escaping Assessment Scheme, 2022, effective from its publication date, was introduced by the Central Board of Direct Taxes under the Ministry of Finance. It utilizes automated allocation through algorithms, including artificial intelligence and machine learning, for the assessment, reassessment, or recomputation of income under section 147 of the Income-tax Act, 1961. Notices under section 148 will be issued based on a risk management strategy, and assessments will be conducted in a faceless manner as per section 144B. This scheme aims to optimize resource use and enhance efficiency in tax assessments.
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