top of page
Search

What is Faceless Assessment for Income Tax for year 2020!!

Do you know what's ๐—™๐—ฎ๐—ฐ๐—ฒ๐—น๐—ฒ๐˜€๐˜€ ๐—”๐˜€๐˜€๐—ฒ๐˜€๐˜€๐—บ๐—ฒ๐—ป๐˜ for Income Tax?


PM Modi announced the Faceless Assessment.


It will remove the human interface btw the taxpayers and the Income Tax Department


Here are A-Z things you should about this scheme!


โ˜‘๏ธ Selection of taxpayer only through the system using data analytics and AI

โ˜‘๏ธ Abolition of territorial jurisdiction

โ˜‘๏ธ Automated random allocation of cases

โ˜‘๏ธ Central issuance of notices with Document Identification No. (DIN)

โ˜‘๏ธ No physical interface, no need to visit the income tax office.

โ˜‘๏ธ Team-based assessment & team-based review

โ˜‘๏ธ Draft assessment order in one city, review in another city & finalization in the third city.


The Finance Minister also said that the faceless tax scrutiny assessment & appeal would help in easing the compliance burden of taxpayers and increase fairness & objectivity in the tax system.


This assessment & taxpayer charter has already come into place from yesterday itself & the faceless appeal is going to be applicable from sep. 25.


The governments say this system will help them to find serious frauds, major tax evasion, sensitive & search matters, International tax, Black Money & Benami Property.


What's your take on it?

#FacelessAssessment #IncomeTax #MayankThoughts

3 views0 comments

Recent Posts

See All

Wanna know hacks for solid Sales Pitch? Hacks that can seal the deal in one go! Here are some hacks for Sales Pitch which can help you to close the deals quickly: ๐Ÿญ. ๐—ข๐—ฝ๐—ฒ๐—ป๐—ถ๐—ป๐—ด ๐—”๐—ป๐—ฐ๐—ต๐—ผ๐—ฟ ๐—ฆ๐˜๏ฟฝ

We all want to grow our business, isn't it!! Be it B2B or B2C, the end goal is to generate revenue and grow Here are the 5 levels of growth in Business for you!! ๐—Ÿ๐—ฒ๐˜ƒ๐—ฒ๐—น ๐Ÿญ- Always look for satisfy

bottom of page