as per the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Bill, 2020
The CBIC has now issued an Order F.No. 187/3/2020-ITA-I dated 13th August 2020 read with order under section 119 of the Income-tax Act,1961 by keeping the main point intact and making necessary change to implement the Scheme to Faceless Assessment u/s 144B of the Act. All the Assessment orders shall be passed by the National Faceless Assessment centre (NFAC),
However few exceptions are,
When Assessee receives any intimation regarding returns filed, all the details have to be shared to National Faceless Assessment centre through online mode. However, there are exceptions, when Survey has to conducted or when assessment orders are given to Non-Resident and Foreign Companies or where pendency could not be created on ITBA.
“Information contained herein is for informational purposes only and should not be used in deciding any particular case. The entire contents of this document have been prepared on the basis of relevant provisions and as per the information existing at the time of the preparation. Though utmost efforts have been made to provide authentic information, it is suggested that to have better understanding and obtaining professional advice after thorough examination of particular situation.”
By Geethanjali S
Article Assistant
Prepared On: 23/12/21
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