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Top headlines: Restructuring of I-T dept, highest-ever monthly exports

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'Faceless' authority proposes restructuring in Income-Tax department

The department tasked with administering the ambitious Faceless Assessment Scheme (FAS) has admitted that the scheme has not gotten off to a smooth start and has proposed a restructuring in the income tax (I-T) department to iron out the anomalies.

The National Faceless Assessment Centre (NaFAC) on Thursday shot off a letter to senior officials of the I-T department seeking a restructuring of the faceless system by merging the role of supervisory officers from the level of Commissioner of Income Tax (CIT) and above. Read more...

At $35 billion in July,