The concept and implementation of e-appeal mechanism is a welcome move as it would not only curb corrupt practices as intended but also reduce the time and cost for getting justice. The Faceless Appeal Scheme, 2020 provides discretionary video-call hearing in selected cases where the tax authority feels that issues are complex. Considering that the right to decide which case […]
The government has taken various measures to facilitate compliance by the taxpayers. In July 2020 alone, the government has taken following measures:- On the other hand, in July 2020 only, the CBDT has signed various MOU’s with various organizations like SEBI, CBIC and MSME Ministry for automatic and regular exchange of information to catch hold of any non-compliances or misreporting […]
CBDT has notified new Income Tax Return (ITR) forms for the Assessment Year 2020-21. New additional columns and schedules have been introduced by CBDT in the recently notified ITR Forms. These new data requirements are designed to capture new essential tax information. Some of these changes are a direct result of the Income tax act amendments made through the Finance […]