Faceless Assessment articles

Faceless Assessment: Concerns & Recommendations for Seamless Digital Integration

On 13th of August, 2020, Hon’ble Prime Minister Shri. Narendra Modi rolled out the scheme of faceless assessment, faceless appeal and tax-payer charter. The scheme for ‘e-assessment’ was already notified in 2019, which has now been modified by amending the original scheme and renamed as ‘faceless assessment’....

Read More
Posted Under: Income Tax |

Customs Faceless Assessment Good Intensions – Strong Resistance

Trade Facilitation is a key enabler for simplification of procedures and reduction of barriers to the trade.  The major Objective of Trade Facilitation is to Reduce Time and Cost for the EXIM community and help them become more competitive in the International Arena. In line with this momentum, CBIC has implemented next generation reform...

Read More
Posted Under: Income Tax |

Faceless Assessments & Appeals: Missing Out on that Odd Cup of Tea with AO/CIT(Appeals) for a Far More Rewarding TEA of Transparency, Efficiency & Accountability!!!

Faceless Assessments & Appeals: Missing Out on that Odd Cup of Tea with AO/CIT(Appeals) for a Far More Rewarding TEA of Transparency, Efficiency & Accountability!!! Friends let me begin with an interesting question…. “What comes across your mind when you hear these terms and phrases- artificial intelligence, machine l...

Read More
Posted Under: Income Tax |

Faceless asseseement under income tax

Extract from budget speech of Hon’ble union finance minister on 5th July 2019 “Para 124. The existing system of scrutiny assessments in the Income-tax Department involves a high level of personal interaction between the taxpayer and the Department, which leads to certain undesirable practices on the part of tax officials.  To elimina...

Read More
Posted Under: Income Tax |

Guidebook for Faceless Assessment

Key objectives of Faceless Assessment include: i. Anonymity in assessment for reduced physical interface between trade and Customs ii. Speedier Customs clearances through efficient utilisation of manpower iii. Greater uniformity of assessment across locations iv. Promoting sector specific and functional specialisation in asses...

Read More
Posted Under: Income Tax |

The Pivotal Role of Appeal Unit under Faceless Appeal Scheme, 2020

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 More
Posted Under: Income Tax |

New Era of Faceless Appeals

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 More
Posted Under: Income Tax |

Initiation of Faceless Assessment Procedures

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 More
Posted Under: Income Tax |

Honouring the Honest – Transparent Taxation

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 More
Posted Under: Income Tax |

Faceless Assessments under Income Tax Act-Few Cautions

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 More
Posted Under: Income Tax |

Faceless Assessments – A Paradigm Shift towards Digital & Anonymous Tax Administration!!

1.1 Faceless assessments: A Paradigm Shift towards Digital & Anonymous Tax Administration!! Well Yes Friends, FACELESS ASSESSMENTS have become a REALITY now… Our Hon’ble PM Sh. Narendra Modi has launched a new platform for Transparent Taxation for ‘Honouring the Honest Taxpayers’, coining three new terms viz. Seamless, Painles...

Read More
Posted Under: Income Tax |

Income Tax Faceless Assessment Procedure

Introduction ♠ The Hon’ble PM Shri Narendra Modi dreamed of corruption free India taking help of Information and Technology and conceived the idea of Digital India. ♠ In a national Conclave of Tax officials, he desired to introduce a faceless assessment scheme with a view to help honest taxpayers and impart greater efficiency, trans...

Read More
Posted Under: Income Tax |

What’s new about the Faceless Assessment under Income Tax?

CBDT had earlier this month notified the National e-Assessment Centre (NeAC) for all communications with the taxpayers under the faceless assessment scheme. Under the new system, taxpayers need to not to physically visit their regional jurisdiction tax officers or the IT department on receiving income tax scrutiny or assessment notice...

Read More
Posted Under: Income Tax |

Faceless E-Assessment Scheme | All About

Procedure in faceless assessment- The procedure for e-assessment is as below: NEC will issue notice under section 143(2) online by uploading the digitally signed copy on the registered income tax account or by sending notice to the assessee’s registered email address or uploading the copy on a mobile app. A real time alert will be sent ...

Read More
Posted Under: Income Tax |

Journey from e-return to Faceless Assessment Scheme- Interpretation & thought process of Income-tax Department

In India, CBDT first time introduced the e-tds return by electronic filing of returns of Tax Deducted at Source Scheme, 2003 in the FY 2004-05. This was the time when Income-tax Department started to collect the assesses’ data in the digital form....

Read More
Posted Under: Income Tax |

Major Impacts in Income Tax Faceless Assessment Scheme

Arjuna,the faceless scheme aims to eliminate the human interference between the taxpayers and the Income Tax department. There are Regional Assessment Centres, which would consist of Four Major Units – Assessment unit, Verification Unit, Review Unit & Technical unit. All Actions of AU,VU, RU & TU Officers are approved by the respective ...

Read More
Posted Under: Income Tax |

Taxpayer’s Independence dependent on following things

Arjun (Fictional Character): Krishna,the taxpayer’s charter has been announced the by PM Modi on 13th August 2020. What is it about? Krishna(Fictional Character): Arjuna,PM Modi divulged the taxpayer’s charter by introducing the charter platform as “Transparent Taxation – Honoring the Honest“, that focuses on faceless assess...

Read More
Posted Under: Income Tax |

India’s Income Tax Taxpayers Charter 2020

‘Transparent Taxation- Honoring the Honest’ is the extended version or a modified model of the E-assessment Scheme 2019 introduced by the Government of India in September 2019. This module brings out the honest and rightful duties of the taxpayers and states the expectations to be fulfilled in their respective parts. The CBDT (Central...

Read More
Posted Under: Income Tax |

Income Tax- Faceless e-Assessment Scheme

Income Tax- Faceless e-Assessment Scheme To bring relief to honest tax payers, this system is introduced by our Honourable Prime Minister, Shri Narendra Modi Ji. PM, in his speech on August 13, 2020, unveiled “Transparent Taxation – Honouring the honest” platform for faceless assessment, appeal, and taxpayer charter. In the current ...

Read More
Posted Under: Income Tax |

Relevance of Drafting Skills Under the Faceless Income Tax Era

The Income Tax Department has been progressing in technology since the year 2006, when the E-filing of Income Tax Return forms was introduced and since than there is no looking back. Right from Income Tax return forms to the recent and newly proposed Faceless Appeals process, the Taxman has come a long way to be tech savvy and productive....

Read More
Posted Under: Income Tax |

Faceless Assessment

Some technical aspects of faceless assessment 1. It is electronic mode procedure, no need to go department. 2. No Human interface 3. This is applicable on section 143(3) and 144. 4. Cases to be allocated to assessment units in a random manner 5. Central Cell to be the single point of contact between taxpayer and […]...

Read More
Posted Under: Income Tax |

Taxpayer’s Charter – Income Tax

On 13 August 2020, between much pomp and fanfare, Prime Minister Modi announced the new Transparent Taxation platform i.e. the new way forward for the Central Board of Direct Taxes. The main idea behind the Transparent Taxation platform is ‘faceless’ assessments and faceless appeals. Further, the Prime Minister promised that the tax a...

Read More
Posted Under: Income Tax |

E- Assessment / Faceless Assessment

E-ASSESSMENT SCHEME, 2019 NOTIFICATION NO. 61, DATED 12.9.2019 NOTIFICATION NO. 62/2019, DATED 12.9.2019 (Directions for giving effect to Income Tax E-assessment Scheme, 2019 by sub-section (3B) of section 143 of the Income-tax Act, 1961) In exercise of the powers conferred by sub-section (3A) of section 143 of the Income-tax Act, 1961 Go...

Read More
Posted Under: Income Tax |

Be-Aware of Transparent Taxation & Beware of Tax Scope

BE-AWARE OF TRANSPARENT TAXATION & BEWARE OF TAX SCOPE Honourable Prime Minister Narendra Modi, on 13th August 2020, launched a platform for ‘Transparent Taxation’ for honoring the honest taxpayers. The platform brings in a transparent, efficient and accountable tax administration. It uses technology, Data Analytics and Ar...

Read More
Posted Under: Income Tax |

Faceless Assessment Procedure

Hon’ble PM launched Transparent Taxation Scheme on 13th August 2020 in which Income-tax Assessments through electronic mode was made mandatory. The move was made to reduce interaction between Income-tax Officers and Assessee as a result of which corruption will be reduced to greater extent....

Read More
Posted Under: Income Tax |

New Form 26AS – The Game-Changer In Income-Tax

New Form 26AS – The Game-Changer In Income-Tax IMPLICATIONS TO ASSESSEES AND PROFESSIONALS IN THE FACELESS SCENARIO It seems to be a human trait not to divulge financial information to anybody outside their inner-circle.The experience of many tax professionals has been that similar restraint is observed by clients even in their cons...

Read More
Posted Under: Income Tax |

Transparent Taxation ‑Faceless assessment

The announcement by the Government of India on 13th August 2020, of Transparent Taxation – Honouring the Honest, it is an extension of E-assessment scheme 2019 launched by Government of India in September 2019. The CBDT passed Notification No. 60 & 61/2020 along with an Order F.No. 187/3/2020 dated 13th August, 2020. The objective o...

Read More
Posted Under: Income Tax |

Faceless Assessment ( A path to transparent taxation)

I. Background The existing system of scrutiny assessments in the Income-tax Department involves a high level of personal interaction between the taxpayer and the Department, which leads to certain undesirable practices on the part of tax officials. To eliminate such instances, and to give shape to the vision of the Hon’ble Prime Ministe...

Read More
Posted Under: Income Tax |

Key Amendments & Highlights under New Faceless Assessment Scheme

This write-up is all about the key amendments introduced by the Hon’ble CBDT vide Notification No. 60 dated 13.08.2020 and Notification No. 61 dated 13.08.2020 modifying the earlier ‘E-assessment Scheme, 2019’ notified on 12.09.2019 and highlights of scheme....

Read More
Posted Under: Income Tax |

Faceless assessment scheme

Faceless assessment means carrying out of income tax assessment procedure without human interface with the use of technology wherein, a centralized NeAC (National Electronic Assessment Centre) shall be the medium of communication with the assesses and department with the use of Artificial intelligence, algorithms. The Cases shall be assig...

Read More
Posted Under: Income Tax |

Structure & Procedure of Faceless Income Tax Assessment

Central Board of Direct Taxes: Structure and Procedure of Faceless Assessment under Income Tax Act, pursuant to the amendment of e-assessment Scheme, 2019 In a pioneering decision, the Central Government vide Notification no. 60/2020 and 61/2020 dated 13 August 2020 (Notifications 2020) introduced Faceless Assessment for the purposes of S...

Read More
Posted Under: Income Tax |

Govt. proposes to Add 11 New Transactions in Form 26AS

Proposal To Add 11 New Transactions In Form 26AS 1) Education related fees and donations above 1 lakh in a year. 2) Electricity bills of above 1 lakh in a year 3) Domestic business class air travel or foreign travel. 4) Hotel bills above Rs.20,000/- 5) Purchase of jewellery, white goods, paintings, marble, etc. above Rs.1la...

Read More
Posted Under: Income Tax |

Challenges to professionals in the face of Faceless Assessments & Appeals – Chiselling the skills and acquiring new ones

The challnges to professionals in the face of faceless assessments And appeals – Chiselling the skills and acquiring new ones The bouquet of the latest Circulars of the CBDT has heralded the entire Nation into a New Era of transparent tax administration . Besides, it is a clarion call to the taxmen, the assessees and […]...

Read More
Posted Under: Income Tax |

What is faceless assessment & taxpayers’ charter and its impact on system?

In the series of tax reforms, the Prime Minister announced some reformative measure during launch of ‘Transparent taxation honouring honest’ platform like faceless assessment, faceless appeal process and tax payers’ charter. Let us discuss the measures announced and its impact on the system and the tax payers. Since implementati...

Read More
Posted Under: Income Tax | ,

Income tax: Faceless Assessment Scheme

Preface to Income tax: Faceless assessment scheme ♦ Finance Minister Nirmala Sitharaman had announced the e-assessment scheme in her budget speech on 5th July 2019 which was inaugurated subsequently on 7th October 2019. ♦ Prime Minister Narendra Modi on 13th August,2020 had lunched “Transparent Taxation-Honouring the honest̶...

Read More
Posted Under: Income Tax |

Faceless Assessment Scheme 2019 – Analysis of recent amendments

INTRODUCTION Administrative departments in the country are on a pathway of digitalization. Old administration practices are continuously being upgraded to improve efficiency and resource utilization. CBDT too, plays active role in the same and has incorporated Income Tax Business Application (ITBA) for electronic conduct of various functi...

Read More
Posted Under: Income Tax |

Platform for Transparent Taxation & faceless appeals launched by PM Modi

Platform for Transparent Taxation and faceless appeals launched by PM Modi – Government of India on August 13, 2020: With the noble motive to honour the honest taxpayers and facilitate faceless assessments & appeals, PM Narendra Modi launched a platform for ‘Transparent Taxation’. Needless to mention this shall also expe...

Read More
Posted Under: Income Tax |

Faceless Assessment Scheme – Road to transparent taxation

E-Assessment is now Faceless Assessment, CBDT vide Notification no. 60 and 61 of 2020 has amended the earlier provisions for e-assessment and renamed the said scheme as Faceless Assessment. Let’s understand the provisions and procedure as laid down in the Faceless Assessment Scheme. Step by step procedure for Faceless Assessment is tabu...

Read More
Posted Under: Income Tax |

Key Highlights of Platform for `Transparent Taxation ‑ Honouring the Honest’

MAXIMUM GOVERNANCE WITH MINIMUM GOVERNMENT PM Modi Launches Platform for `Transparent Taxation ‑ Honouring the Honest’ KEY HIGHLIGHTS  Tax system aims to be Seamless, Painless and Faceless: PM The platform has major reforms like Faceless Assessment, Faceless Appeal & Taxpayers Charter Faceless Assessment & Taxpayers Chart...

Read More
Posted Under: Income Tax |

Faceless Assessment Appeal & New Changes in Income Tax

FACELESS ASSESSMENT AND APPEAL OBJECTIVES Imparting greater efficiency, transparency and accountability Eliminating physical interface between the taxpayer and tax officers FEATURES Selection only through system using data analytics and AI Dynamic Jurisdiction — abolition of territorial jurisdiction Automated random allocation of cases....

Read More
Posted Under: Income Tax |

All about Transparent Taxation-Honouring the Honest

Government has acknowledged that the country can move forward and can develop when the life of honest taxpayer is made easy. This scheme is in the direction of making assessee s’ life easy.  Launching of Taxpayers charter is to ensure fair, courteous, and rational behaviour to the honest taxpayers....

Read More
Posted Under: Income Tax |

Faceless Assessments, Faceless Appeals and Tax Payers Charter

Disposal of income tax cases were big thing for businessman apart from their business. For refund of their own money they faced many problems. People avoided to pay tax when it was well known that their hard earned money will not be used in nation building but will be illegally absorbed into System....

Read More
Posted Under: Income Tax |

Browse All Categories

CA, CS, CMA (5,046)
Company Law (6,712)
Custom Duty (8,081)
DGFT (4,387)
Excise Duty (4,406)
Fema / RBI (4,435)
Finance (4,694)
Income Tax (35,090)
SEBI (3,754)
Service Tax (3,626)

Search Posts by Date

November 2020
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
30