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Income Tax : The data on cash withdrawal indicated that huge amount of cash is being withdrawn by the persons who have never filed income-tax r...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....
E-Assessment Scheme 2019 Finance Minister’s Budget Speech 2019 The Hon’ble FM, in her Budget Speech on 5th July 2019 announced: √ Faceless assessment in electronic mode √ With no human interface √ To be launched in 2019 in a phased manner √ Notices to be issued electronically by a Central cell √ Cases to be […]
Revenue Secretary inaugurates National e-Assessment Centre of IT Department Faceless e-Assessment for income tax payers launched New Initiative shall impart greater efficiency, transparency and accountability in the assessment process Posted On: 07 OCT 2019 Revenue Secretary Shri Ajay Bhushan Pandey inaugurated National e-Assessment Scheme (NeAC) here today in the presence of CBDT Chairman Shri P.C. […]
FM to inaugurate National e-Assessment Centre of Income Tax Department Tomorrow Shall usher introduction of Faceless e-Assessment in the Income Tax Department New Initiative shall impart greater efficiency, transparency and accountability in the assessment process The Income Tax Department is ushering in a paradigm shift in its working by introducing faceless e-assessment to impart greater […]
E-assessment Scheme, 2019 is notified vide Notification No. 61/2019- Income Tax dated 12th September, 2019. ‘Assessment’ means assessment of total income or loss of the assessee under sub-section (3) of section 143 of the Act. ‘e-assessment’ means the assessment proceedings conducted electronically in ‘e-Proceeding’ facility through assessee’s registered account in designated portal. The assessment under […]
Central Board of Direct Taxes hereby sets up the Regional e-Assessment Centres (ReACs) as specified in column 2 of the Schedule-1, with their headquarters at the place mentioned in column 3 of the said Schedule and shall comprise of the Income Tax authorities as per Annexure to this order.
In all cases (other than the cases covered under the `e-Assessment scheme, 2019′ notified by the Board), where assessment is to be framed under section 143(3) of the Act during the financial year 2019-20, it is hereby directed that such assessment proceedings shall be conducted electronically subject to exceptions in para below.
In pursuance of para 4 of the E-assessment Scheme, 2019 made by the Central Government vide Notification No.61 of 2019 dated 12th September, 2019, the Central Board of Direct Taxes hereby sets up National e-Assessment Centre (NeAC), which shall have its headquarters at Delhi and shall comprise of the following Income-tax authorities:-
Brief note on E-Assessment Scheme, 2019 Central Board of Direct Taxes has vide notification no. 61/2019 dated 12th September, 2019 has introduced a scheme called E-assessment Scheme, 2019 (Scheme). It shall come into force on the date of its publication in the Official Gazette. With the help of this scheme the Government aims to curb […]
The CBDT on 12th September 2019, notified the much talked about e-assessment procedure vide Notification no. 61/2019. The stakes were high, as it was expected to reduce the red-tapism in the country, during an assessment proceeding. This notification was quickly followed up by another notification vide 62/2019, giving effect to the Income Tax E-Assessment Scheme, […]
[Notification No. 62/2019 For giving effect to the E-assessment Scheme, 2019 the Central Government hereby makes the following directions
