Faceless Assessment & Appeals Ready Reckoner with Real Time Case Studies 2021

By | January 1, 2021
(Last Updated On: January 1, 2021)

Taxmann’s Faceless Assessment & Appeals Ready Reckoner with Real Time Case Studies – Updated till 10th December 2020 | 3rd Edition 2021 Paperback – 25 December 2020

 Faceless Assessment & Appeals Ready Reckoner with Real Time Case Studies

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This book is a ready-reckoner for the assessees and tax practitioners, to understand the ‘Faceless Assessment Scheme, 2019 & Faceless Appeal Scheme, 2020, in an effective, qualitative and timely manner. An honest and sincere effort has been made in the book, to explain & demonstrate the practical aspects and nitty-gritties of the Scheme. This book aims to fully familiarise the reader, with the following points:

  • Manner, mode and methodology of conducting the faceless assessments
  • Viewing and retrieving of e-scrutiny notices
  • Requisitions in the registered e-filing accounts
  • E-filing and uploading of qualitative and meritorious e-responses to notices and requisitions

The Present Publication authored by Mayank Mohanka, is the 3rd Edition & updated up to 10th December 2020, with the following noteworthy features:

  • [Illustrative Tables, Infographics, Visuals & Real-time Scrutiny Notices] The New ‘Faceless Assessment Scheme, 2019’ & ‘Faceless Appeal Scheme, 2020’ have been explained lucidly with illustrative tables, infographics, visuals & real-time scrutiny windows
  • Practicalities and nuances of difference between the conventional and faceless assessments and appeals
  • [Step-by-Step Manner; e-Proceedings Window] Demonstration of the actual conduct of faceless assessments and faceless appeals in a  step-by-step manner through real-time e-Proceedings windows
  • [Practical Case-Studies] Real-time practical case studies on faceless assessments on various issues, such as:

o   Cash Deposits during demonetisation

o   Valuation of Share u/s 56(2)(x)

o   Share Capital/Share Premium

o   LTCG on Penny Stocks

o   Disallowance  u/s 14A, Rules 8D

o   Disallowance of Pre-commencement Business Expenditure

o   Taxability of Compensation received under RFCTLAAR Act, 2013

o   Revenue Recognition & Expenditure Booking in Real Estate Business

o   Bogus Purchases, Seized Diary, AIR/STR information

  • [Specimens] of suggestive qualitative and meritorious e-responses on faceless assessments
  • [FAQs] on the new Faceless Assessment Scheme, 2019
  • Key Takeaways from SOPs issued by NeAC for Faceless Assessments; and
  • [Amended] New Faceless Regime as per the Taxation Amendment Act, 2020
  • Contents of the book are as follows:

o   Faceless Assessments

  • New Face of Faceless Assessments
  • Decoding the New Faceless Assessment Scheme, 2019
  • Practical Guide to Faceless Assessment
  • 12 Practical Case Studies
  • Practical Guide to e-Filing of rectification application u/s 154 & e-response to outstanding Income-tax demand
  • Decoding lesser known nuances of Faceless Assessment Scheme 2019
  • Faceless Assessment: Few Critical Suggestion to Make them Flawless
  • International Best Practices & Indian Tax Authorities
  • FAQs on Faceless Assessment Scheme 2019
  • Key takeaways of SOPs issued by NeAC for Faceless Assessments
  • New Faceless regime as per ‘The Taxation Amendment Act, 2020’

o   Faceless Appeals

  • Faceless Appeals: One more step towards Digital Tax Administration
  • Decoding Faceless Appeal Scheme, 2020
  • Practical Guide to Faceless Appeals
  • Key Takeaways from Deliberations of Sr. Income Tax Department Dignitaries on Faceless Assessments & Appeals

 

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