CBDT lays out five parameters for compulsory selection of returns under faceless assessment
Business

CBDT lays out 5 parameters for obligatory number of returns underneath faceless evaluation

  The Central Board of Direct Taxes (CBDT) has prescribed 5 broad parameters for obligatory number of returns for full scrutiny underneath faceless evaluation for FY 2020-21. The Board has clarified varied conditions and the parameters foundation which the instances could be chosen for scrutiny, and has specified when scrutiny shall be performed by NeAC…

Income tax dept framing rules to enable physical hearing under faceless assessment scheme
Business

Income tax dept framing guidelines to allow bodily listening to beneath faceless evaluation scheme

The Income Tax division is framing guidelines to allow bodily listening to in case there’s addition, both in tax or earnings, for taxpayers beneath the faceless evaluation scheme, a senior official mentioned. “Wherever there is addition proposed – either to income or tax – a showcause notice will be issued and final opportunity will be…