CA Final Mentorship Program by CA Raj Badiyani (Reviews)

🇮🇳💰INCOME TAX REFORM: 1)What is Faceless Assessment scheme? Faceless Assessment is being rolled out to remove the human interface between the taxpayer and the Income Tax (I-T) Department. PM NARENDRA MODI unveiled faceless tax scrutiny and appeal and urged people to pay their due taxes and contribute to nation building. Modi said that the latest tax reforms by his government are an effort to make tax system seamless, painless and faceless. Faceless Assessment is being rolled out to remove the human interface between the taxpayer and the Income Tax (I-T) Department. Faceless assessment and taxpayer charter will come into place from today itself, while the faceless appeal is going to be applicable from September 25. 2)FEATURES OF THE FACELESS ASSESSMENT SCHEME:☑️ A) Selection of a tax payer only through system using data analytics and AI B) Abolition of territorial jurisdiction C) Automated random allocation of cases D) Central issuance of notices with Document Identification No. (DIN) E) No physical interface, no need to visit the income tax office E) Team-based assessments and team-based review F) Draft assessment order in one city, review in another city and finalisation in third city. 3) WHO ARE THE NON BENEFICIARIES🙅‍♂️🚫👎 OF SUCH A CONVENIENT FACILITY? Of course those who do not abide the laws and do non-compliance will not get this benefit as this reform is made with a view for the benefit of HONEST TAX PAYERS OF INDIA. THE NON BENEFICIARIES INCLUDE:- A) CASES OF Serious frauds, major tax evasion, sensitive & search matters👺 B) CASES INCLUDING International tax matters🗺️🌐 C) CASES INCLUDING Black Money Act and Benami Property🤑🧤🏦💰💰💰 →_→→_→→_→→_→ For more notes & updates Join us & share @ca_final_notesForAll @Group_1_Notes @Group_2_Notes →_→(✽ ﾟ🎓ﾟ ✽)→_→

For those who has completed their articleship👆

#ICAI IMPORTANT ANNOUNCEMENT REGARDING CENTERS FOR NOVEMBER 2020 CA EXAMINATIONS