As per Faceless Assessment scheme procedure under Income Tax Act, National e-Assessment Center (NeAC) which shall act as the major managing authority and it will act as a mediator between Assessment Unit, Assessee and other parties.
Faceless assessment is a “big step in reducing Department’s interference from people’s lives” and ensures speedy assessment of cases. Further, another major cause is that the I-T department has been progressively reducing the percentage of cases picked up for scrutiny assessment so as to establish the fact that the department places trust on the taxpayer.
The Government has approved the Direct Tax Vivad Se Viswas bill for providing resolutions to multiple pending tax litigations and collecting cash before the year-end. 1. What is Vivad Se Viswas Scheme? Budget 2020 introduced a bill in the Parliament containing details of the Direct Tax Dispute Settlement Scheme- Vivad Se Viswas. This bill proposes discounted or less payment for the dispute settlement. The condition is- only if the taxpayer makes the payment before or on 31st March 2020. If any taxpayer wants to avail the benefit of this bill after or on April 1st, 2020, he/she has to pay
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