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News INCOME TAX

  • Sep 14, 2019
  • E-Assessment: I-T returns vetting now only in ‘faceless’ mode

    The government on Thursday notified a scheme to revamp the assessment of income-tax (I-T) returns by making it completely faceless, that is, where the assessee and the assessing official would be anonymous to each other. The e-assessment Scheme 2019, however, would provide an opportunity to the assessee to seek a personal hearing but it would have to be conducted exclusively through video conferencing. According to the scheme, the income-tax department would set-up a National e-Assessment Centre, which would serve notices on the assessees specifying the issue for selection of their case for assessment. The taxpayer would have 15 days to respond to the notice and file a response to the Centre.