Webinar on Critical Issues in Faceless Assessments under Income Tax Act, 1961

Webinar on  Critical Issues in Faceless Assessments under the Income Tax Act, 1961

Join us for an Exclusive Live Webinar with Hari Agarwal, FCA

The Income Tax Department has embraced the Faceless Assessment System to bring transparency and efficiency. However, it has also led to critical challenges and complexities for taxpayers and professionals. Are you prepared to navigate these changes effectively?

This power-packed 2-hour webinar will help you understand the critical issues and strategies related to Faceless Assessments under the Income Tax Act, 1961.

Key Highlights of the Webinar:

√ Deep dive into Faceless Assessments – concepts, process & challenges

√ Understanding the common issues faced by taxpayers and professionals

√ Practical case studies and expert guidance on tackling faceless assessments

√ Insights from 35+ years of experience in handling tax matters

√ Live Q&A Session – Get your queries answered by an expert

♦ Event Details:

♦ Date: 1st March 2025

♦ Time: 11:00 AM – 1:00 PM

♦ Fee: ₹999/-

Live Online Session (Join from anywhere!)

Register at:

Webinar on Critical Issues in Faceless Assessments under the Income Tax Act, 1961

About the Speaker – CA Hari Agarwal, FCA

Hari Agarwal, FCA is a highly respected Chartered Accountant with over 35 years of professional experience. His expertise in Survey, Search & Seizure, and Income Tax Assessments has made him one of the most sought-after speakers on taxation.

♦ Founder & Managing Partner – M/s. Hari Agarwal & Associates, Chartered Accountants (Since 1987)

♦ Author of the Book – “Tax Payers’ Practical Guide to Survey under Income Tax Act, 1961”

♦ Speaker at 150+ Seminars – Conducted by ICAI branches across India

♦ Columnist for 25+ Years – Monthly contributor on “Survey, Search & Seizure Update” in ICAI newsletters

♦ Former Member – Ethical Standards Board of ICAI, New Delhi

♦ Faculty on Direct Taxes – For ICAI’s Post Qualification Certificate Courses

Who Should Attend:  Chartered Accountants & Tax Professionals, Business Owners & Entrepreneurs, CFOs, Accountants, & Finance Managers, Legal & Compliance Officers and Students & Aspiring Tax Consultants

This webinar is a must-attend for anyone dealing with Income Tax Assessments!

Why You Should Attend?

♦ Get clarity on complex tax issues related to Faceless Assessments

♦ Learn practical solutions to deal with assessment challenges

♦Gain insights from real-world case studies and expert opinions

♦ Live interactive session to get your doubts resolved

Faceless Assessments under Income Tax Act,1961 

1. Introduction to Assessments under the Income Tax Act, 1961

• Overview of Assessment Process
• Objectives and Importance of Assessments

2. Filing of Return of Income and Related Provisions

• Section 139: Return of Income
• Section 139A: Permanent Account Number (PAN)
• Section 139AA: Quoting of Aadhaar Number
• Section 139B: Scheme for submission of return through Tax Return Preparers
• Section 139C: Power of Board to dispense with furnishing documents with return
• Section 139D: Filing of return in electronic form

3. Verification and Tax Payment

• Section 140: Return by whom to be verified
• Section 140A: Self-Assessment Tax
• Section 140B: Tax on Updated Return

4. Inquiry and Assessment Procedures

• Section 142(1): Inquiry before Assessment
• Section 142A: Estimation of Value of Assets by Valuation Officer
• Section 142B: Faceless Inquiry or Valuation
• Section 143(1): Assessment (Intimation)
• Section 144: Best Judgment Assessment
• Section 144A: Power of Joint Commissioner to issue directions in certain cases
• Section 144B: Faceless Assessment
• Section 144BA: Reference to Principal Commissioner or Commissioner in certain cases
• Section 144C: Reference to Dispute Resolution Panel (DRP)

5. Key Issues in Assessments

• Unexplained Credits and Investments
  • Section 68: Cash Credits
  • Section 69: Unexplained Investments
  • Section 69A: Unexplained Money, etc.
  • Section 69B: Amount of Investments not fully disclosed in books of account
  • Section 69C: Unexplained Expenditure
  • Section 69D: Amount borrowed or repaid on hundi
  • Section 115BBE: Tax on Income under Sections 68 to 69D
• Common Challenges in Assessments
  • Incorrect Income Disclosure
  • Mismatch between Income Declared and Form 26AS/TDS
  • Disallowance of Expenses
  • Fictitious/Inflated Bills or Transactions
  • Transfer Pricing Adjustments
  • Non-filing or Late Filing of Returns
  • Application of Wrong Tax Rates
  • Disputes over Capital Gains Taxation (Valuation of Capital Assets)
  • Bogus Purchases/Sales Transactions
  • Share Premium Received for Unquoted Shares
  • Taxability of Gifts & Unexplained Credits
  • Denial of Deductions & Exemptions
  • Taxation of Foreign Income
  • GST & TDS Compliance Issues
  • Issues in Faceless Assessment
  • Penalty & Prosecution Proceedings

6. Practical Case Studies and Resolution Mechanisms

👉 Register Now & Gain Expert Insights on Faceless Assessments!