CBDT to hold high-level review of I-T e-assessment system before its roll-out
Listen to this Article
Finance Minister Nirmala Sitharaman has said the e-assessment scheme will be rolled out on October 8 which is 'Vijayadashami' day this year.
Officials said the high-level review will be conducted through video conferencing by CBDT Chairman P C Mody along with other members of the board from here.
Regional chiefs of the Income-Tax department in Delhi, Mumbai, Kolkata, Chennai, Bengaluru, Pune, Hyderabad and Ahmedabad and officials of NeAC will discuss issues related to successful implementation of the scheme and potential challenges during the review, they said.
The meeting will take stock of deployment of required computer systems, Internet and other hardware, and software facilities for assessing officers, officials said.
The NeAC will have 16 officials and will be headed by a Principal Chief Commissioner of Income-tax (PCCIT). It will be an independent office for e-assessment.
The NeAC will serve notices to assessees specifying the issues for selection of their case for assessment and after a response is received from them within 15 days, the centre will allocate the case to an assessing officer using an automated system, a government notification had earlier said.
"A person shall not be required to appear either personally or through authorised representative in connection with any proceedings under this scheme (e-assessment) before the income-tax authority at the National e-assessment Centre or Regional e-assessment Centre or any unit set up under this scheme," the notification stated.
In case assessees or their authorised representatives want personal hearing to make their submissions or present their case before the income-tax authority, they will be allowed to do so "in any unit" and such hearings shall be conducted exclusively through video links or any other such facility, it had said. #casansaar (Source - PTI, Economic Times)
Category : CBDT | Comments : 0 | Hits : 459
The Central Board of Direct Taxes (CBDT), has issued Circular No. 07/2024 dated 25.04.2024 further extending the due date for filing Form 10A/ Form 10AB under the Income-tax Act, 1961 (the ‘Act’) upto 30th June, 2024. CBDT had earlier extended the due date for filing Form 10A/ Form 10AB by trusts, institutions and funds multiple times to mitigate genuine hardships of the taxpayers. The last such extension was made by Circular No. 06/2023 extending the date to...
Certain instances of mismatch of information as filed by the taxpayer and as available with the Income Tax Department have come to the notice of the Department as part of its routine exercise of verification of data. In such cases, the Department has alerted the taxpayers to enable them to take corrective action. However, some posts on social media, as well as articles in the media, have highlighted enquiries initiated by the Central Board of Direct Taxes (CBDT) in cases where employees have mad...
The Central Board of Direct Taxes (CBDT) has said the Income Tax department can file appeals irrespective of monetary threshold in cases relating to TDS/TCS, undisclosed foreign income, or information received from investigating agencies like ED and GST Intelligence. As per the present rules, tax authorities are allowed to file appeals before the ITAT, High Court and Supreme Court, if the disputed tax demand exceeds Rs 50 lakh, Rs 1 crore and Rs 2 crore, respectively. These thresholds were fi...
Income of any fund or institution or trust or any university or other educational institution or any hospital or other medical institution referred to in specified sub-clauses of section 10 (23C) of the Income-tax Act, 1961 (the ‘Act’) or any trust or institution registered under section 12AA/12AB of the Act is exempt, subject to fulfilment of certain conditions specified under various sections of the Act. One of the conditions required to be fulfilled by the tru...
Central Board of Direct Taxes (CBDT) on Monday ordered withdrawal of small tax demands that finance minister Nirmala Sitharaman had announced in her FY25 budget speech to improve ease of living. CBDT said that tax demand up to ?25,000 for assessment year up to 2010-11 and demands up to ?10,000 from the next year up to assessment year 2015-16 will be extinguished. However, any criminal action initiated or planned under any law will not be dropped. Any tax demand raised against taxes collect...


Comments