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FACELESS PENALTY SCHEME
Amnesty Scheme for Customs, easier tax compliance on India Inc's Budget wishlistIndian industry bodies have submitted their wishlist for the upcoming budget, calling for an amnesty scheme for customs, tax cuts for indiv...- How to respond to income tax notice onlineAn income tax notice is sent to an individual when one's calculation of taxable income (after claiming tax exemptions and deductions, if an...
- CBDT notified amendment in Faceless penalty scheme, allowing mandatory personal hearingThe amendment has omitted the Regional Faceless Penalty Centre from the Faceless Penalty Scheme and provides that electronic records shall ...
- I-T dept eases norms for personal hearing via video conference under faceless appeal scheme"Such a hearing shall be conducted through video conferencing or video telephony, including use of any telecommunication application softwa...
- I-T department issues 3 email IDs for registering grievances under faceless assessment schemeThe IT department issued a message on its official Twitter handle. The tweet said that this move was being introduced to improve taxpayer s...
- Individuals, companies drag taxman to court over faceless assessment lapsesFaceless assessment is a tax evaluation process in which there is no in-person interaction with the tax officers and was started to counter...
- Delhi High Court stays show cause notice by I-T dept under faceless assessment regimeThe Delhi High Court said the submission that there was a breach of principles of natural justice appears to be prima facie correct. The co...
- CBDT disposes of over 1 lakh cases under faceless assessmentAs per CBDT data, the department has allocated 57,985 legacy cases and 136,000 new cases, out of which it has been able to dispose of 46,82...
- About a quarter of direct tax litigations getting resolved via 'Vivad Se Vishwas'As many as 1,25,144 cases have so far opted for the Vivad se Vishwas (VsV) Scheme, which is 24.5 per cent of the 5,10,491 cases that were p...
- View: The gaping loopholes in India's faceless penalty scheme and how to plug themIn order to make the faceless penalty scheme be effective, it is, therefore, important that the allocation of cases is proper. FPS envisage...
- Govt introduces faceless penalty schemeThe scheme, notified on Wednesday, specifies setting up of national faceless penalty centres, regional penalty centres, penalty units and r...
- Recovery continues despite phases of Covid-19 resurgence: Ajay Bhushan PandeyHe attributed some component of the surge in revenues to the drive launched to identify tax evaders and those availing input tax credit fra...
- Income tax department to zero in on tax evaders under faceless assessment schemeUnder the faceless assessment scheme, transactions with the ITRs of taxpayers/entities and selects tax returns for scrutiny that show wide ...
- President gives assent to Taxation and Other Laws billThe bill, which now becomes an Act, was issued as an ordinance on March 31, 2020, to defer compliance deadlines for direct and indirect tax...
- Finance Minister defends tax Ordinance, says it was needed to provide relief“There was an urgent need to give relief to the taxpayers… amendments in the clauses was needed to extend compliance dates, waive or defer ...
- Income tax dept framing rules to enable physical hearing under faceless assessment scheme“Wherever there is addition proposed - either to income or tax - a showcause notice will be issued and final opportunity will be given to t...
- IT Department to map digital behaviour of taxpayers to create profiles“If I give you a requisition for five things, you (taxpayer) respond to one, and take adjournment to respond to the other, that’s assessee ...
- Taxpayers' charter will empower citizens to get time-bound services from I-T dept: CBDT chairmanThe CBDT chairman Pramod Chandra Mody said the charter will be notified very soon. "The underlining theme with which we have been working t...
- 'Taxpayer charter' on cards to build trust, reduce harassment; wealth creators will be respected: Finance Minister"We wish to enshrine in the statutes a 'taxpayer charter' through this budget. Our government would like to reassure taxpayers that we rema...
- Govt taking steps to simplify taxation; curb harassment of honest taxpayers: FMAddressing an event organised by Confederation of All India Traders (CAIT), the finance minister said the government is open to suggestions...
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