CA.Sangam Aggarwal
Quick Summary
Introduction The Income Tax Act, 1961, has undergone continuous reforms over the years to enhance clarity, efficiency, and taxpayer compliance. Despite these efforts, ambiguities in certain provisions have often led to misuse such as wrongful claims of deductions, underreporting of income, or compl
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FAQ :
The primary objective is to eliminate the need for direct interaction between taxpayers and tax authorities, thereby enhancing transparency, ensuring greater accountability, and improving overall efficiency in the assessment process.
The framework for faceless assessment is laid down in Section 144B of the Income Tax Act, 1961.
The NFAC acts as the central coordinating body, facilitating seamless and centralised communication in the faceless assessment process and managing the end-to-end workflow.
Cases are assigned to assessment and review units through a system-driven automated mechanism, ensuring objective and unbiased distribution.
Yes, taxpayers are entitled to request a hearing, which is conducted via video conferencing, preserving their right to representation while maintaining the faceless framework.
The faceless scheme covers various assessments, including Summary Assessment (Section 143(1)), Scrutiny Assessment (Section 143(3)), Best Judgment Assessment (Section 144), and Income Escaping Assessment (Section 147).
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