Page 25 - Income Tax Department

In pics: All about faceless income tax assessment starting from today

While Faceless Assessment and Taxpayers Charter came in force from August 13, income-tax appeals are all set to go faceless from today, September 25

No directive to CBDT to issue notice to Sharad Pawar: Election Commission

Several media house reported Pawar as saying that that the Income Tax Department has served him a notice in connection with the declarations made by him in poll affidavits submitted to EC

I-T department puts in place safeguard measures for e-assessment

Aims to address fears that the process may lead to a rise in ad hoc additions in demand

Income Tax department searches hotelier, jeweller in Jammu and Kashmir

The Income Tax Department has conducted raids on a prominent hotelier and a jeweller based in Jammu and Kashmir on charges of alleged tax evasion, the CBDT said on Thursday

CBDT deploys two-third of its workforce for faceless assessment scheme

According to officials, Regional e-Assessment Centre (ReAC) has also been increased to 34 from 8 earlier

MNCs approach tax dept, seek revision of agreements due to Covid-19

These companies are reaching out to the direct tax board to seek clarity on revising the advance pricing agreements

IT dept closely monitoring implementation of faceless assessment scheme

Since August 13, all Income Tax returns picked up for scrutiny, except those relating to search and seizure and international tax, are being assessed under faceless assessment

IT dept launches functionality for banks to check refund filing status

The Income Tax department on Wednesday said it has launched a functionality for scheduled commercial banks to check status of income tax returns filed by entities based on their PAN

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

Taxpayers' charter: Expect more fairness

The tax charter has been issued under the newly minted Section 119A of I-T Act. It is no longer an unenforceable administrative promise made by CBDT more as a public-relations exercise

Refund charges taken since Jan 1 on UPI, RuPay payments: Tax dept to banks

To encourage digital transactions and move towards a less-cash economy, the government inserted a new provision, Section 269SU, in the Finance Act, 2019

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

One month on, Sebi's one-time settlement scheme remains doubtful starter

High settlement amount and prosecution from other probe agencies draws little interest

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

Trusting taxpayers

The charter and faceless scrutiny should not remain just on paper

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

No timelines in Taxpayers' Charter; vague compared to Citizens' Charter

The Taxpayers' Charter has left tax officers puzzled whether they will still need to abide by the timelines mentioned in the Citizens' Charter

Taxpayers deserve better services, they are nation-builders: Sitharaman

There are only a few countries in the world, like Australia, the UK and US, where there is a Charter of Rights for the taxpayer, she said

Soon, these 10 intel agencies will have access to your PAN, bank details

The CBDT and the NATGRID will sign a Memorandum of Understanding to finalise the latest information-sharing mechanism