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Income Tax - Faceless Appeal Scheme, 2020 under Income Tax Act 1961. was notified by the Ministry of Finance on 25th. September 2020. To empower the income tax department in conducting faceless assessments till the disposal of faceless Appeals the Government is taking various initiatives/steps by changing the existing processes/procedures via a contin...
Read MoreIncome Tax - In order to ensure the reforms initiated by the Department to eliminate human interface from the system, the Hon’ble Finance Minister had extended the faceless assessment proceedings to CIT(A) proceedings in the Union Budget 2020. Accordingly, amendments were made in section 250 of the Income-tax Act, 1961 (‘the Act’) in order to en...
Read MoreIncome Tax - The CBDT is launching the Faceless Assessment in various direct & indirect tax procedures from today as announced earlier as promulgated by Prime Minister Narendra Modi as the income-tax appeals are all set to go faceless from Friday. Further, the income tax department has already enunciated PAN-India faceless assessment facil...
Read MoreIncome Tax - In the series of tax reforms, the Prime Minister Narendra Modi has on 13th August, 2020 announced some reformative measure during launch of ‘Transparent taxation honouring honest’ platform like faceless assessment, faceless appeal process and tax payer’s charter. Faceless Assessment and Taxpayer’s Charter is implemented with immed...
Read MoreIncome Tax - Much has been said about the process as to how faceless e-assessments will happen from now onwards. Paper submissions and resubmissions, personal hearings, networking with the department, etc. etc. are going to be history in near future. We as professionals have faced all the challenges be it transition from manual accounting to simple co...
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 MoreIncome Tax - 3,130 tax personnel, including 600 IT officers are busy implementing the Faceless e-Assessment scheme of Income Tax. Out of 58,319 cases selected for faceless assessment, already 8,700 cases have been disposed off....
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 MoreITBA-Faceless Appeals Instruction No –1 - (19/10/2020) - Faceless Appeal Scheme has been implemented in ITBA and the allocation of cases to Faceless Appeal units is under progress. A number of requests have been received from the field formation for opening of the Appeal module in ITBA to enable the CIT (Appeals ) to upload the physical records and submis...
Read MoreF No. 187/3/2020-ITA-I - (14/10/2020) - With the launch of the Faceless Appeal Scheme, 2020, the Income Tax Department is moving towards minimal interface with maximum governance. In order to effect the same, the National Faceless Appeal Centre (hereafter referred to as NFAC), Delhi has been created under Principal Chief Commissioner of I...
Read MorePublic Notice No. 132/2020-JNCH - (13/10/2020) - In addition to other functions, Turant Suvidha Kendra (TSK) at NhavaSheva will act as Facilitation Helpdesk for any grievance related to clearances of the B/E filed in the port....
Read MoreCircular No. 45/2020-Customs - (12/10/2020) - As the prompt and timely assessment of Bills of Entry and clearance of imported consignments are key objectives of Turant Customs, these issues have been examined and remedial measures have been identified. Accordingly, Board prescribes the following measures for Faceless Assessment:...
Read MoreF.No.225/126/2020/ITA-II - (30/09/2020) - CBDT extended the date for selection of cases for Compulsory Scrutiny on the basis of prescribed parameters, as communicated vide Board's letter dated 17.09.2020, from 30th September,2020 to 31st October,2020....
Read MoreITBA-Faceless Appeals Instruction No –1 - (19/10/2020) -
Lakshya Budhiraja Vs Union of India (Delhi High Court) -
F No. 187/3/2020-ITA-I - (14/10/2020) -
Public Notice No. 132/2020-JNCH - (13/10/2020) -
Circular No. 45/2020-Customs - (12/10/2020) -
F.No.225/126/2020/ITA-II - (30/09/2020) -
Notification No. 81/2020-Income Tax [S.O. 3309(E)] - (25/09/2020) -
