V3I5P81

A Study on technology usage, such as AI and blockchain, in simplifying the tax filing process

Surabhi S^1*, Dr. Sree Veena²

Abstract

The increasing rate of development in digital technology has led to numerous changes in many sectors, including taxation. This paper examines how new technologies, Artificial Intelligence, as well as Blockchain, can make tax returns simpler for individuals as well as for businesses. Conventional tax returns tend to be complicated, taking up considerable amounts of time, as they are susceptible to errors made by humans. Artificial Intelligence can detect errors, offer tailored support via AI-powered chatbots, as well as superior software. Additionally, Blockchain technology enhances the security of tax returns. The paper seeks to make sense of how these technologies increase efficiency, accuracy, and usability within tax filing. In addition to this, there is an emphasis on challenges encountered while adopting these systems, considering factors related to awareness, skill sets, and infrastructure. This study employs primary research, where data is collected using simple questionnaires for analysing how these technologies are accepted or perceived by individuals when used with tax filing systems, considering AI or blockchain technology. The results garnered from this research will enable policymakers, tax departments, or developers to understand the advantages of technological adaptation when filing taxes and promote adopting cutting-edge technology for an efficient tax filing process.

Keywords:

Artificial Intelligence; Blockchain Technology; Tax Filing Systems; Digital Taxation; Automated Tax Compliance