Top taxpayers may get flexibility to exit faceless assessment scheme

Recast of scheme is being discussed to bring in more flexibility into the system

The Centre is looking at modifying the ambitious Faceless Assessment Scheme (FAS) meant to cut down the physical interface between a taxpayer and the Income Tax Department. Among other things, the change could offer flexibility to the top rung of taxpayers whose income exceeds Rs 200 crore. Such taxpayers could get room to opt out of the faceless scheme and go for jurisdictional assessment, a government official in the know said. 

Also, talks are on to explore if areas such as international taxation and capital gains could be handled by expert teams within the tax department. If required, complex cases