: CBDT launches Faceless Appeals to empower honest taxpayers #FinanceIndia #StockMarketNEWS CBDT launches Faceless Appeals to empower honest taxpayers New Delhi, Sept 25 (KNN) To ensure fair appeal
@StockMarketNEWS Sat 26 Sep, 2020
CBDT launches Faceless Appeals to empower honest taxpayers #FinanceIndia #StockMarketNEWS
CBDT launches Faceless Appeals to empower honest taxpayers New Delhi, Sept 25 (KNN) To ensure fair appeal orders and minimise any further litigation for the taxpayers, the Income Tax Department on Friday launched Faceless Income Tax Appeals.
According to this, all Income Tax appeals will be finalised in a faceless manner under the faceless ecosystem with the exception of appeals relating to serious frauds, major tax evasion, sensitive & search matters, International tax and Black Money Act. The necessary Gazette notification has also been issued today.
Hon’ble PM on 13th August 2020 while launching the Faceless Assessment and Taxpayers’ Charter as part of “Transparent Taxation - Honouring the Honest” platform had announced the launching of Faceless Appeals on 25th September 2020 on the birth anniversary of Pt. Deen Dayal Upadhayay. Also, in recent years the Income Tax Department has carried out several reforms in Direct Taxes for the simplification of tax processes and for ease of compliance for the taxpayers.
The Faceless Appeal will provide not only great convenience to the taxpayers but will also ensure just and fair appeal orders and minimise any further litigation. The new system will also be instrumental in imparting greater efficiency, transparency and accountability in the functioning of the Income Tax Department.
Under the Faceless Appeals, from now on, in income tax appeals, everything from e-allocation of appeal, e-communication of notice/ questionnaire, e-verification/e-enquiry to e-hearing and finally e-communication of the appellate order, the entire process of appeals will be online, dispensing with the need for any physical interface between the appellant and the Department.
There will be no physical interface between the taxpayers or their counsel/s and the Income Tax Department. The taxpayers can make submissions from the comfort of their home and save their time and resources.
The Faceless Appeals system will include allocation of cases through Data Analytics and AI under the dynamic jurisdiction with central issuance of notices which would be having Document Identification Number (DIN).
As part of dynamic jurisdiction, the draft appellate order will be prepared in one city and will be reviewed in some other city resulting in an objective, fair and just order.
As per data with CBDT, as on date there is a pendency of almost 4. 6 lakh appeals at the level of the Commissioner (Appeals) in the Department. Out of this, about 4. 05 lakh appeals, i. e. , about 88 % of the total appeals will be handled under the Faceless Appeal mechanism and almost 85% of the present strength of Commissioners (Appeals) shall be utilised for disposing of the cases under the Faceless Appeal mechanism.
Stock Market News & Best Intraday tips & Stocks near support
More posts by @StockMarketNEWS
: Latest #StockMarketNEWS by #MunafaSutra Daily Updates Sensex surges 835 pts, Nifty reclaims 11K; Nifty IT up over 3% Rs 20,000 cr tax dispute: Vodafone wins arbitration case against India
@StockMarketNEWS Fri 25 Sep, 2020
: Latest #StockMarketNEWS by #MunafaSutra Daily Updates Global sell-off, lockdown fear: reasons why Sensex tanked 1,115 pts today Thursday 24 September, 2020
@StockMarketNEWS Thu 24 Sep, 2020
0 Comments
Sorted by latest first Latest Oldest Best
Stock Exchange charts NSE Stock Exchange BSE Stock Exchange USA Stock Exchange Stock Charts NSE FNO Stock Analysis
NSE Stock Exchange NSE stock market news stock intraday tips
MNC.News NASDAQ NSE BSE Money SIP
Munafa NEWSTerms of Use Create Support ticket Your support tickets Powered by ePowerPress Stock Market News! Top Seo SMO © munafa.website2024 All Rights reserved.