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of <h1>Finance Bill 2020 Introduces E-Penalty Scheme to Boost Transparency and Efficiency in Tax Assessments.</h1> The Finance Bill, 2020 proposes an e-penalty scheme to enhance efficiency, transparency, and accountability in tax assessments. This scheme, aligned with the E-Assessment Scheme-2019, aims to minimize direct interactions between taxpayers and Assessing Officers by leveraging technology. It seeks to optimize resource use and introduce dynamic jurisdiction for penalty imposition by multiple tax authorities. The Central Government is empowered to issue notifications to modify jurisdiction and procedures for penalties, with these changes effective from April 1, 2020. Notifications must be laid before Parliament by March 31, 2022, ensuring legislative oversight.
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