Page 2 - Income Tax Assessment
FM Sitharaman asks tax officers to make faceless appeal system a success
The faceless appeal system was also unveiled by prime minister Narendra Modi on Thursday
 "FM Sitharaman asks tax officers to make faceless appeal system a success")
Govt modifies e-assessment scheme after PM unveils Taxpayers' Charter
The nomenclature of the scheme has now been changed to "Faceless Assessment Scheme" from the existing "E-assessment Scheme"
 "Govt modifies e-assessment scheme after PM unveils Taxpayers' Charter")
How to claim income tax deduction for investments made in April - July 2020
One of the key points to note while accounting for these investments made from April to July is that a deduction once claimed in FY20 on an investment made, cannot be claimed again for FY21
 "How to claim income tax deduction for investments made in April - July 2020")
I-T tribunal stays tax demand against Tata Education and Development Trust
The Rs 100-crore tax demand on Tata Education and Development Trust was raised last year by the I-T department owing to cancellation of registration on past exempted income.
 "I-T tribunal stays tax demand against Tata Education and Development Trust")
Govt notifies revised Form 26AS, to have purchase info of shares, property
Easing taxpayer compliance, the annual information statement has been subsumed in the Form 26AS
 "Govt notifies revised Form 26AS, to have purchase info of shares, property")
CBDT extends till Jan 31 deadline for compounding of I-T offences
The earlier deadline was December 31, 2019
 "CBDT extends till Jan 31 deadline for compounding of I-T offences")
Journey of faceless e-assessment starts; I-T dept identifies 58,322 cases
Though the system is called faceless, it would have a room for inviting tax payers through video conferencing
 "Journey of faceless e-assessment starts; I-T dept identifies 58,322 cases")
Centre for I-T e-assessment to be based in Delhi; CBDT issues order
The Centre will have 16 officials and will be headed by a Principal Chief Commissioner of Income-tax as its chief
 "Centre for I-T e-assessment to be based in Delhi; CBDT issues order")
Non-filers will have 21 days to file I-T returns, submit response: CBDT
The 21-day time period would be from the date of receiving e-mail or SMS from the I-T Department regarding non-filing of tax returns
 "Non-filers will have 21 days to file I-T returns, submit response: CBDT")
Modi's plan to stop tax evasion: Top 500 Indian cos may face scrutiny
The e-assessment system will require the information technology wing of the direct tax office to undergo a major revamp
 "Modi's plan to stop tax evasion: Top 500 Indian cos may face scrutiny")
I-T dept to launch jurisdiction-free assessment from October
The project will cover 100 cities in the first phase of implementation
 "I-T dept to launch jurisdiction-free assessment from October")
Firms need to give income estimates to I-T dept by November 15
This information will help I-T dept to get an idea about trend of income of the entity on an almost real-time basis
 "Firms need to give income estimates to I-T dept by November 15")
