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I-T returns

68 lakh I-T returns filed till 11 pm on last day

68 lakh I-T returns filed till 11 pm on last day

New Delhi: The last-minute rush to meet the deadline for filing income tax returns ((I-T returns) was apparent on Sunday, with nearly 68 lakh returns filed till 11 am. July 31 was the last day for filing returns for those whose accounts do not have to get audited. “Statistics of Income Tax Returns filed today....

I-T dept moves towards transparency with ‘faceless assessment system’

In a giant leap towards a transparent tax administration, the income tax (I-T) department has introduced the ‘faceless assessment system’.  The new system aims to eliminate the physical interface between the taxpayer and tax officers. The faceless e-assessment scheme was initially notified on September 12, 2019. A pilot project was inaugurated on October 7 last...