Quick Summary
A total of 1,28,733 Declarations have been filed in Form 1 till 1stMarch, 2021 by taxpayers. These include 1,393 declarations by Central PSUs and 833 declarations by State PSUs/ boards. Declarations have been filed by taxpayers for resolution of Tax disputes amounting to Rs. 98,328 crore till 1stMarch 2021. Payment of Rs. 53,346 crore have been made by taxpayers under the scheme till 1stMarch 2021. This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance Corporate Aff
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FAQ :
By 1st March 2021, tax disputes amounting to Rs. 98,328 crore had been resolved.
A total of 1,28,733 declarations were filed by taxpayers by 1st March 2021.
Taxpayers had made payments totalling Rs. 53,346 crore under the scheme by 1st March 2021.
The Faceless Appeals Scheme, 2020, aims to dispose of appeals before the Commissioner (Appeals) by minimising direct interaction between the Commissioner and the appellant, to the extent technologically feasible.
The Finance Bill 2021 proposes a Faceless Income-tax Appellate Tribunal, Dispute Resolution Committees for small taxpayers, and replacements for the Authority for Advance Rulings with Boards for Advance Rulings and an Interim Board for Settlement.
Appeals related to serious frauds, major tax evasion, sensitive and search matters, international tax, and Black Money Act cases are not covered by the Faceless Appeals Scheme, 2020.
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