Income Tax - While the author had almost finalised the article, Notification No. 27/2021 dated 27-Feb-2021 the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Ordinance, 2020 which was promulgated on 5-Jun-2020 [while later become Act] has extended date of completion of assessment for AY 2018-19 from 31-March-2021 to 29-30-Jun...
Read MoreIncome Tax - INTRODUCTION According to a Survey India records highest rate of bribery in Asia i.e.39% and highest rate of citizens using personal connections (46%). Worries grew as inflation rate rose from 3.7% to 12.1% over 2001-2010. Bigger scams involving lakhs crores of rupees were into pockets of officials and ministers. Corruption became great h...
Read MoreIncome Tax - Some Income Tax professionals are not happy with the Budget proposal in respect of introduction of the scheme of Faceless ITAT. These are the same people who had wholeheartedly & unequivocally welcomed the scheme of Faceless Assessment & Faceless Appeals before the CIT (Appeals). It is common knowledge that Faceless Assessment &...
Read MoreIncome Tax - Decision to deny oral hearing at the income tax appellate stage needs to be reconsidered as otherwise the same shall not only be in violation of the principles of natural justice but the same shall also suffer from the vice of unfairness....
Read MoreIncome Tax - For the first time in the history of India, the Finance Minister presented a paperless Union Budget for FY 2021-22 through a Made in India tablet. The government also launched a Union Budget app for accessing the budget documents, showing that the Indian government is clearly taking various measures to go digital as much as […]...
Read MoreIncome Tax - Exclusive email ID- ‘[email protected]’ enabled to register grievance regarding Section 142(1) notices (including roving questionnaires) issued under the Faceless Assessment Scheme 2019. The grievances received in the said email shall be closely monitored by a team of officials at National e-Assessment Cent...
Read MoreIncome Tax - Over the last few years, in order to provide a non-intrusive and non-adversarial tax ecosystem, the Government has taken various measures to reform the Direct Tax regime. This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs in response to a written question in the Lok Sabha today....
Read MoreIncome Tax - Article explains Differences between current scheme & Faceless Assessment scheme, Constitution of ReACS, Consequences of No Response by Taxpayer and Functions of each of Assessment Unit, Verification Unit, Review Unit & Technical Unit which are approved by respective Range Heads. CURRENT Vs FACELESS ASSESSMENT Present Assessment S...
Read MoreIncome Tax - On 13th August 2020, Honourable Prime Minister Narendra Modi has enunciated a platform to tribute the honest taxpayers of the country and ensuring awareness about honest tax payment in India. The inauguration of the “Transparent Taxation” program happened at 11 am through video conferencing. The “Transparent Taxation”...
Read MoreIncome Tax - मोदी ने ईमानदार करदाताओं को दी सौगात, फेसलेस असेसमेंट और टैक्सपेयर्स चार्टर लागू !! ‘Transparent Taxation – Honouring the Honest’ A new platform Lunched through video conferencing by honoura...
Read MoreLakshya Budhiraja Vs Union of India (Delhi High Court) - Lakshya Budhiraja Vs Union of India (Delhi High Court) The petition has been listed before this Bench by the Registry in view of the urgency expressed therein. The same has been heard by way of video conferencing. Present writ petition has been filed seeking a direction to the respondents to grant a...
Read MoreNotification No. 7/2021-Income Tax/S.O. 742(E) - (17/02/2021) - Assessment under Faceless Assessment Scheme, 2019 shall be made as per the following procedure, namely:‑ (i) the National e-Assessment Centre shall serve a notice on the assessee under sub-section (2) of section 143 of the Act; (ii) the assessee may, within fifteen days from the date of receipt of...
Read MoreNotification No. 6/2021-Income Tax [S.O. 741(E)] - (17/02/2021) - CBDT amends Faceless Assessment Scheme, 2019 vide Faceless Assessment (1st Amendment) Scheme, 2021 and specified the procedure for Assessment under Faceless Assessment Scheme, 2019. Notification No. 6/2021-Income Tax Dated: 17th February, 2021. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BO...
Read MoreF. No. Pr. CCIT(NeAC)/2020-21/613 - (12/02/2021) - I am directed to state that the cases where notice u/s 148 of the Act were issued by the Jurisdictional Assessing Officer (JAO) and where:- (1) Returns of income have been filed and notice u/s 143(2) of the Act has not issued by JAO or Prescribed Authority, or...
Read MoreSTANDING ORDER NO. 03/2021- JNCH - (25/01/2021) - Continuing with the spirit of system-based facilitation and furthering better administration of the process of Faceless Assessment, following more enhancements have been enabled in ICES....
Read MoreF No. 187/4/2021-ITA-I - (20/01/2021) - Order under Para 4 of the Faceless Penalty Scheme, 2021 for directing the National Faceless Assessment Centre /Regional Faceless Assessment Centre/ Assessment Unit/ Review Unit to act as the National Faceless Penalty Centre /Regional Faceless Penalty Centre/ Penalty Unit/ Penalty Review Unit under t...
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Notification No. 7/2021-Income Tax/S.O. 742(E) - (17/02/2021) -
Notification No. 6/2021-Income Tax [S.O. 741(E)] - (17/02/2021) -
F. No. Pr. CCIT(NeAC)/2020-21/613 - (12/02/2021) -
STANDING ORDER NO. 03/2021- JNCH - (25/01/2021) -
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