HSN & SAC Code 1. As per the notification from Govt on 15th Oct 2020, businesses having turnover of more than 5 Cr, 6 or more digits HSN/SAC code is required in HSN summary during GSTR-1 filing. This is effective from 1st April 2021. 2. For this compliance, we will be validating E-Invoice data and […]
The taxpayers under QRMP scheme have a facility to file Invoice Furnishing Facility (IFF) in first two months of the quarter and file Form GSTR-1 in third month of the quarter. As IFF is an optional facility it cannot be filed after the end date (13th of the month succeeding the IFF period). The document […]
Poothrikka Service Co-Operative Bank Ltd. Vs ITO (Kerala High Court) The question which is pending for adjudication before the appellate authority is whether the petitioners who are co-operative Societies are entitled for deduction under Section 80 (P) of the Income Tax Act. The Assessing Officer has denied the benefit of Section 80 (P) of the […]
Registration U/s – 80G of Income Tax Act, 1961 – Latest Process & Compliances Dear friends, as we all know, NGOs are integral part of our society. There are many NGO in India which are working for the social welfare of society. During lockdown period they have played a very important role in serving the […]
With the change in the nomenclature of National e-Assessment Centre (NeAC) and Regional e-Assessment Centres (ReACs) to National Faceless Assessment Centre (NaFAC) and Regional Faceless Assessment Centres (ReFACs), the following posts in the various grades of India Revenue Service are hereby re-designated as detailed below, with effect from 01.04.2021 and until further orders:
Central Board of Direct Taxes hereby sets up the National Faceless Assessment Centre (hereinafter referred to as the NaFAC), which shall have its headquarters at Delhi and shall comprise of the following Income-tax Authorities: –
Faceless Assessment Scheme, 2019 shall henceforth mutatis mutandis be applicable to the Faceless Assessment under Section 144B of the Act, except those specifically modified by issue of fresh Orders / Circulars etc.
Pr. CCsIT of the Region shall be the Cadre Controlling Authority in their area of jurisdiction in respect of all field formations including Faceless charges (ReFACs), Central charges, International Taxation & Transfer Pricing charges, Investigation Directorates, Exemption charges & DTRTI etc., along with the Jurisdictional Hierarchy.
CBDT hereby specifies that all the assessment proceedings pending as on 31.03.2021 and the assessment proceedings initiated on or after 01.04.2021 (other than those in the Central Charges and International Taxation charges) which fall under the following class of cases shall be completed under section 144B of the Act:-
CBDT hereby sets up the Regional Faceless Assessment Centres (ReFACs), as specified in Column 2 of the Schedule below, with their headquarters at the places mentioned in Column 3 of the said Schedule and shall comprise of the Income-tax Authorities as per Annexure to this order.
