Income tax Return

Income Tax faceless Assessment Recently, the Central Board of Direct Taxes, India as part of policy decision making of government of India, to make Income Tax Assessment in India transparent, fair and for reducing the human interface between the tax payer and the tax department, has introduced the Income Tax Faceless Assessment Scheme and made necessary changes in the Income Tax Act in this regard.   Salient features of the Income Tax Faceless Assessment   Some of the salient features of the Income Tax Faceless Assessment in India are as under:   a)        A central nodal agency in the form of National Faceless Assessment Centre (NFAC) has been introduced for the smooth conducting of faceless Income Tax assessment which will be the central coordinating agency between the tax payers as well as the tax officers. It will be the single point of contact between the tax payers and the Income Tax Department.   b)     Now, the notice shall be issued by the NFAC to the as

  Income Tax Assessment Faceless Assessment becoming nightmare for tax assesse!!!   Income tax assessment has always been a subject of concern for every businessman, whether big or small. Recently, the government has introduced new scheme of Faceless Income Tax Assessment and there were quite a high expectation of smooth conducting of Income tax faceless assessment, in a more transparent manner and providing some respite to the tax assesses. The intention behind faceless assessment was to eliminate the physical interaction between the assesse and the tax officials, make use of technology in the entire process and to reduce corruption and harassment of the honest tax payers. Inspite of all the well intent behind the introduction of faceless Income Tax Assessment , in reality, right from its inception, the tax payers are facing lot of issues which has led to discontent among the assesses. Section 144B which deals with the entire scheme of new Faceless Income Tax Assessme