Page 15 - Cbdt

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

CBDT provides relief to senior citizens on self-assessment tax

They can pay a part of their taxes by July 31 so that their remaining tax liability is no more than Rs one lakh. No interest will be charged if they pay the remainder by November 30

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

Tata Education Trust gets Rs 220-crore exemption from ITAT

The matter pertains to Tata Trust's donation of $100mn to Harvard, Cornell

Direct tax refunds down 10% amid Covid-19 pandemic, says CBDT

Only withheld refunds where assessee reply is awaited, says CBDT

CBDT, CBIC sign MoU to facilitate exchange of information on regular basis

The finance ministry said important developments such as the incorporation of GST Network and advancement of technology have duly been incorporated in the MoU

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.

CBDT to share depreciation, turnover info of small firms with MSME ministry

The Central Board of Direct Taxes has signed a memorandum of understanding in this regard with the Ministry of Micro, Small and Medium Enterprises

I-T dept spots taxpayers with high-value transactions in FY19 with no ITRs

The last date for filing as well as revising the Income Tax Return for Assessment Year 2019-20 (relevant to FY 2018-19) is July 31, 2020

I-T dept issues refunds worth Rs 71,229 cr to 2.1 million taxpayers

The Central Board of Direct Taxes (CBDT) further asked taxpayers to provide immediate response to emails of the department for quick processing of their refunds