Income Tax : Budget 2021- Section 153 of the Act contains provisions in respect of time-limit for completion of assessment, reassessment and re...
Income Tax : Introduction ♠ The Hon’ble PM Shri Narendra Modi dreamed of corruption free India taking help of Information and Technology an...
Income Tax : CBDT had earlier this month notified the National e-Assessment Centre (NeAC) for all communications with the taxpayers under th...
Income Tax : Procedure in faceless assessment- The procedure for e-assessment is as below: NEC will issue notice under section 143(2) online by...
Income Tax : In India, CBDT first time introduced the e-tds return by electronic filing of returns of Tax Deducted at Source Scheme, 2003 in th...
Income Tax : Article explains Differences between current scheme & Faceless Assessment scheme, Constitution of ReACS, Consequences of No Re...
Income Tax : On 13th August 2020, Honourable Prime Minister Narendra Modi has enunciated a platform to tribute the honest taxpayers of the...
Income Tax : The CBDT has carried out several major tax reforms in direct taxes in the recent years, which includes the following: (i) Reductio...
Income Tax : Revenue Secretary inaugurates National e-Assessment Centre of IT Department Faceless e-Assessment for income tax payers launched N...
Income Tax : FM to inaugurate National e-Assessment Centre of Income Tax Department Tomorrow Shall usher introduction of Faceless e-Assessment ...
Income Tax : Salem Sree Ramavilas Chit Company Vs DCIT (Madras High Court) .The Government of India has introduced E-Governance for conduct of ...
Income Tax : The data on cash withdrawal indicated that huge amount of cash is being withdrawn by the persons who have never filed income-tax r...
Income Tax : The newly introduced Faceless –E-Assessment Scheme will bring about various benefits for taxpayers, one of which is Ease of Doin...
Income Tax : Corrigendum to Income Tax notification number 65/2020 dated 13.08.2020 issued vide Notification No. 70/2020-Income Tax, Dated: 2...
Income Tax : Corrigendum to Income Tax Notification No. 63/2020 dated 13.08.2020 issued vide Notification No. 69/2020-Income Tax, Dated: 27.08....
Income Tax : Corrigendum to Income Tax Notification No. 62/2020 dated 13.08.2020 issued vide Notification No. 68/2020-Income Tax, Dated: 27.08....
National e-Assessment Centre, Delhi Room No. 401, 2nd Floor, E-Ramp, Jawaharlal Nehru Stadium, Delhi-110003. email:delhi.pccit.neac@incometax.gov.in Phone No: 24367003; Mobile no & WhatsApp: 9773924660 F. No. Pr.CCIT(NeAC)/2019-20/61 Dated: 24.12.2019 Subject:- Extension of time limit for filing of response to notices issued under section 142(1) of the Income-tax Act, 1961 under E-assessment Scheme-2019. With a view to […]
1. Introduction Around the world, the momentous advancements in technology, increased digitalisation and the unprecedented flow of information is causing the tax administrations across nations, to re-think and re-examine their conventional and traditional modes of administration to stay effective and non-obsolete and to engage in digital transformation through the introduction of new technologies and analytical […]
Under the new system of faceless e-Assessment, tax payer will receive notice on his/her registered email and/or registered account on the web portal www.incometaxindiaefiling.gov.in with real time alert by way of SMS on his/her registered mobile number. The reply to the notice can be prepared at ease by the tax payer at own residence or office and be sent to the National e-Assessment Centre by uploading the same on the designated web portal.
With a view to impart greater efficiency, transparency and accountability, the idea of group assessment of income has been proposed over the last few decades. In the course of the re-structuring of the department, in 2001, a system of group assessment was sought to be introduced by way of setting up of assessment range, where Joint Commissioner of Income-tax, Assistant Commissioner of Income-tax and Income-tax officer were given concurrent jurisdiction over the cases.
The Regular Assessments u/s 143(3)/143(3A) being conducted under the New Scheme of e-Assessments 2019, are more popularly known as ‘Faceless Assessments’ & ‘Jurisdiction-less Assessments’.
Faceless Assessments Authorities – A ‘National e-Assessment Centre’ to facilitate and centrally control the e-assessment. ‘Regional e-Assessment Centres’ under the jurisdiction of the regional Principal Chief Commissioner for making assessment. ‘Assessment units’ for identifying points or issues, material for the determination of any liability (including refund), analysing information, and such other functions. ‘Verification units’ for […]
E- Assessment is a roadway towards a paperless, faceless assessment stripping away at bureaucratic layers. E-Assessment didn’t just magically appear from nowhere, it was tried and tested by the Income tax Department before going forth with the E-ASSESSMENT SCHEME, 2019. To understand any scheme, one needs to understand how it came to be formulated. So, […]
CBDT amends Notification No. 62/2019- Income Tax dated 12th September, 2019 related to E-assessment Scheme, 2019 to rectify the spelling misstates vide CORRIGENDA Notification No. 86/2019 dated: 1st November, 2019. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) CORRIGENDA New Delhi, the 1st November, 2019 Notification No. 86/2019-Income Tax S.O. 3968(E).—In the […]
CBDT amends Notification No. 61/2019- Income Tax dated 12th September, 2019 related to E-assessment Scheme, 2019 to rectify the spelling misstates vide CORRIGENDA Notification No. 85/2019 dated: 1st November, 2019. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) CORRIGENDA New Delhi, the 1st November, 2019 Notification No. 85/2019-Income Tax S.O. 3967(E).— In […]
The new scheme, called the ‘E-assessment Scheme, 2019 (Scheme), was notified by CBDT on 12 September, 2019. It will be an online system, which will use artificial intelligence, automated tools to randomly and automatically allocate cases for assessment within the Income Tax Department. It aims to bring in more transparency.
