Page 20 - Taxation

Faceless approach in taxation to bring down compliance cost: Finance secy

The finance secretary said that the tax system was going to be entirely data-driven and seamless tax reforms would change the way taxes are paid in the country

Not taken into confidence for faceless assessment scheme: Tax officers

In a letter to the CBDT Chairman P C Mody, the association has highlighted the unease among 97 per cent of the I-T department workforce with respect to the implementation of the scheme

Bring faceless assessment in indirect tax regime, demand textiles exporters

A small and medium textiles exporters' association has asked the government to introduce 'faceless assessments and faceless appeals' in the indirect tax regime as well

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

Govt removes tweet on bringing hotel bills of over Rs 20K under I-T scanner

The tweet was put up by mygovindia, a platform founded by the government to promote the active participation of citizens in their country's governance and development, on Thursday

Govt modifies e-assessment scheme after PM unveils Taxpayers' Charter

The nomenclature of the scheme has now been changed to "Faceless Assessment Scheme" from the existing "E-assessment Scheme"

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

Many landmark decisions by Modi govt to honour honest taxpayers: Amit Shah

Union Home Minister Amit Shah on Thursday said the Narendra Modi government has taken several key decisions to empower and honour honest taxpayers and launch of 'Transparent Taxation-Honoring the Honest' is a gift to the taxpayers. The Prime Minister on Thursday unveiled a faceless tax assessment and appeals to reduce the scope for corruption and overreach by officials. "Modi govt has taken several landmark decisions to empower and honour the honest taxpayers who are the backbone of India's progress & development," Shah tweeted. Shah said this platform is another step towards the prime minister's resolve of 'Minimum Government, Maximum Governance'. "Reforms for a New India! Launch of 'Transparent Taxation-Honoring the Honest' is a gift to our taxpayers by PM @narendramodi & FM @nsitharaman. With reforms like faceless assessment, faceless appeal & taxpayers charter this platform will further strengthen our taxation system," he said in another tweet. On the major overhaul of

Happy that govt announced long-awaited taxation reform, says VP Naidu

Vice President M Venkaiah Naidu on Thursday said the "long-awaited" taxation reform announced by the government would lead to greater compliance of tax laws

Rights & responsibilities of citizens in new taxpayers' charter: Full text

PM Modi said the charter had been introduced with defined rights and responsibilities. Read the full text of the tax charter document here

Will the country finally have an integrated tax surveillance system?

Valuable leads on under-payment of tax have often slipped between CBDT and CBEC, who have been more eager to protect their respective turfs

Economic activity reviving; GST collections good sign: CBDT chief Mody

He tells Dilasha Seth, in an interview, that 58,000 cases will be assessed through the faceless mechanism by October.

Over 7,000 cases disposed of under I-T dept's faceless assessment process

In faceless assessment, all communication with taxpayers is made electronically by a central cell in Delhi and the identity of all the assessing officers remains unknown to the taxpayer

An emperor in Delhi

The emperor's appetite for enlarging his realm translated into a fetish for raising taxes, despite the simplicity of his personal lifestyle

Redeemed your MF investment? Here's what you pay to the taxman

A redemption of mutual fund investments gives rise to capital gain or loss, which are taxed as capital gains. A loss, however, can be set-off against other taxable gains from other asset classes

Centre seeks India Inc's view on economic revival amid Covid-19 outbreak

Key demands and suggestions include improving liquidity, cutting customs duties and goods and services tax (GST) rates, expediting all refunds and a halt on tax scrutiny

Rs 5,575-cr indirect tax refunds processed since March 30, says CBIC

Earlier, the tax body had initiated a measure to help GST return filers by facilitating early refund of input tax credit

FPIs stare at higher withholding tax on dividends owing to tax treaty

While FPIs are also classified as non-residents, the withholding tax rates for these are provided under a separate section 196D of the Income Tax Act

Focus on tour operators to manage tax at source on overseas travel

Travellers whose incomes are below the taxable limit will have to file a return to claim the refund on this tax