India's CAG Rajiv Mehrishi; Image Source: Wikipedia
Comptroller and Audit General of India (CAG), Mr Rajiv Mehrishi announced that the authorised assessor would be able to conduct 100% audit of expenses incurred and proceeds, earned by the government if every transaction happens through the online income tax portal.
Stressing on the need for more independence and flexibility for CAG, Mehrishi stated that currently, the government is experiencing huge outlays on welfare projects. So, it is imperative that there is 100% accountability for every rupee spent. CAG has always strived to review and improve audit efficiency throughout its 158 years of operations.
He believes that if they can guarantee that all government transactions on Income Tax portal, then an audit of 100% transactions is indeed possible. In the current times, Information Technology impacts every aspect of people’s lives, catalysed by the government’s goal of ‘Digital India’; this should reflect in compliances too.
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