Page 17 - Cbdt

IT refunds worth Rs 98,265 cr issued to 2.62 mn taxpayers in 5 months

This include personal income tax (PIT) refunds amounting to Rs 29,997 crore issued to 2.45 million taxpayers

I-T authorities can share info with scheduled commercial banks: CBDT

The CBDT has said IT authorities can share information with scheduled commercial banks, a move that would ease the lenders' hassle of deciding TDS deductibility on various payments to their customers.

Refund charges imposed on e-payments since Jan this year: CBDT to banks

The CBDT, through a circular, said that banks are advised to not collect any charges on transactions or payments made through electronic mode.

I-T dept to intimate taxpayers under scrutiny about faceless assessment

A Section142(1) notice is sent to an assessee to inquire about details and documents before making assessment under the Income Tax Act

Sebi-CBDT info-sharing pact facing roadblock over confidentiality clause

Confidentiality clause about foreign jurisdiction prevents tax board from sharing sensitive details with market regulator

Faceless scheme: Revenue officers seeks change in role, service conditions

IRS Association proposes to redraft transfer and deputation policy, seeks rebranding of IRS

Anonymous, at a distance: How faceless assessment will help taxpayers

Taxpayers will be selected for assessment and other procedures through a system that uses data analytics, artificial intelligence and machine learning.

Faceless assessment: CBDT chief meets I-T officers to dispel concerns

CBDT Chairman Mody explained the faceless assessment and taxpayers' charter and detailed the reallocation and reorganisation aspects of the department's manpower

Top headlines: Tata may sell JLR, UK steel biz, CBDT undergoing facelift

From Tata likely to sell JLR and UK steel operations in UK, Covid-19 drug sales performing well to private train operators allowed to choose halt stations, here are the top news of the day

CBDT undergoing significant restructuring for faceless assessment

4,224 officers have been diverted to the faceless assessment unit, leaving 2,000 in the residual jurisdiction, which will no longer carry out assessments

Under faceless assessment, all communication with taxpayers to be from NeAC

In detailed guidelines on implementation of the scheme the CBDT said, The NeAC/ReACs hierarchy will be tasked with management of Faceless Assessment proceedings

I-T dept undergoes overhaul to implement faceless assessment scheme

3,500 posts of assessment officers diverted to other centres; officers flag transitional challenges in implementing scheme

Experts give taxpayers' charter a thumbs up, want govt to walk the talk

Say more needs to be done to develop trust between assessees and authorities

Only investigation wing, TDS directorate to conduct I-T surveys: CBDT

In an I-T survey, tax officers visit business premises of the taxpayer to gather information by way of examination of books of accounts, data stored electronically and also access email communication

Faceless tax scrutiny will ease compliance burden, increase fairness: FM

In a series of tweets, the Finance Ministry said the I-T department has taken up several reforms to make tax compliance easier for taxpayers

PM Modi to launch 'transparent' scheme tomorrow to honour honest taxpayers

In the Budget, Finance Minister Nirmala Sitharaman had announced that CBDT will adopt a "taxpayer charter" which will ensure trust between a taxpayer and the administration

Cross-border tax disputes: ITAT orders to overrule MAP outcomes, says CBDT

Direct tax board issues detailed guidance on mutual agreement procedure, or MAP

Govt appoints 3 new members of Central Board of Indirect Taxes and Customs

The appointments committee of the cabinet has approved the appointment Jain, Johri, and Sharma as CBIC members

Govt notifies e-invoicing for companies with Rs 500-crore turnover

The move comes as the government is looking at ways to plug evasion amid dismal GST collections with the pandemic driving economy towards recession

Biz with turnover above Rs 500 cr to raise e-invoice for B2B transactions

The Central Board of Indirect Taxes and Customs (CBIC) has notified the revised format for e-invoice under GST by replacing existing form and also increased the turnover threshold