Government of India

Department of Revenue

Ministry of Finance

Central Board of Direct Taxes

New Delhi, 2nd September, 2020

PRESS RELEASE

CBDT provides ITR Filing Compliance Check Functionality for Scheduled Commercial Banks

Central Board of Direct Taxes in exercise of powers conferred under section 138(1)(a) of Income Tax Act, 1961, has issued Order inF.No. 225/136/2020/ITA.II dated 31.08.2020, for furnishing information about IT Return Filing Status to Scheduled Commercial Banks, notified vide notification No. 71/2020 dated 31.08.2020 under sub-clause (ii) of clause (a) of sub-section (1) of section 138 of the Act.

The data on cash withdrawal indicated that huge amount of cash is being withdrawn by the persons who have never filed income-tax returns. To ensure filing of return by these persons and to keep track on cash withdrawals by the non-filers, and to curb black money, the Finance Act, 2020 w.e.f. 1st July, 2020 further amended Income-tax Act, 1961 to lower the threshold of cash withdrawal to Rs. 20 lakh for the applicability of TDS for the non-filers and also mandated TDS at the higher rate of 5% on cash withdrawal exceeding Rs. 1 crore by the non-filers.

Income Tax Department has already provided a functionality “Verification of applicability u/s 194N” on www.incometaxindiaefiling.gov.in for Banks and Post offices since 1st July, 2020.  Through this functionality, Bank/Post Office can get the applicable rate of TDS under section 194N of the Income-tax Act, 1961 by entering the PAN of the person who is withdrawing cash.

The Department has now released a new functionality “ITR Filing Compliance Check” which will be available to Scheduled Commercial Banks (SCBs) to check the IT Return filing status of PANs in bulk mode. The Principal Director General of Income-tax (Systems) has notified the procedure and format for providing notified information to the Scheduled Commercial Banks. The salient features of the using functionality are as under:

a) Accessing “ITR Filing Compliance Check”:The Principal Officer & Designated Director of SCBs, which are registered with the Reporting Portal  of Income-tax Department (https://report.insight.gov.in) shall be able to use the functionality after logging into the Reporting Portal using their credentials. After successfully logging in, link to the functionality “ITR Filing Compliance Check” will appear on the home page of the Reporting Portal.

b) Preparing request (input) file containing PANs: The CSV Template to enter PAN details can be downloaded by clicking on “Download CSV template” button on the “ITR Filing Compliance Check” page. PANs, for which IT Return filing status is required, are required to be entered in the downloaded CSV template. The current limit of PANs in one file is 10,000.

c) Uploading the input CSV file: Input CSV file may be uploaded by clicking on Upload CSV button. While uploading, “Reference Financial Year” is required to be selected. Reference Financial Year is the year for which results are required. If selected Reference Financial Year is 2020-21 then results will be available for Assessment years 2017-18, 2018-19 and 2019-20. Uploaded file will start reflecting with Uploaded status.

d) Downloading the output CSV file: After processing, CSV file containing IT Return Filing Status of the entered PANs will be available for download and “Status” will change to Available.  Output CSV file will have PAN, Name of the PAN holder (masked), IT Return Filing Status for last three Assessment Years.

After downloading of the file, the status will change to Downloaded and after 24 hours of availability of the file, download link will expire and status will change to Expired.

Scheduled Commercial Banks can also use API based exchange to automate and integrate the process with the Bank’s core banking solution. Scheduled Commercial Banks are required to document and implement appropriate information security policies and procedures with clearly defined roles and responsibilities to ensure security of information.

(Surabhi Ahluwalia)

Commissioner of Income Tax

(Media & Technical Policy)

Official Spokesperson, CBDT

 

Ministry of Finance

Providing Ease of Tax Compliance and Opportunity to taxpayers before finalizing of Assessment Order are the core features of Faceless Assessment Scheme, a right step towards Minimum Government, Maximum Governance: Principal Chief Commissioner – Income Tax, Mumbai

Dated: 27 AUG 2020

Faceless E-Assessment scheme is a right step towards Minimum Government, Maximum Governance and the foundation stone for a transparent tax system. This is how Principal Chief Commissioner of Income Tax in Mumbai, Shri Patanjali Jha summarizes the new platform of Income Tax Department. He added that providing Ease of Tax Compliance and Opportunity to taxpayers before finalizing of Assessment Order are the core features of this scheme, while speaking at a webinar on 'Faceless Assessment, Appeals & Taxpayer's Charter' jointly organized by the IMC Chamber of Commerce & Industry and Bombay Chamber of Commerce & Industry today.

Making a comparison between the faceless assessment system and the current system it replaces, the Principal Chief Commissioner explained how the new system is one designed for the 21st century. "There is no discretion in selection of assessment cases, while earlier, case selection used to happen manually. In place of single territorial jurisdiction, we now have automated random allocation of cases. While notices used to be issued both manually and on the system, issue of notices will now be done through a central mechanism (by NeAC) in electronic mode. There will be no physical meeting with any officer, no officer will call you to office and no more waiting outside office", explained Shri Jha. He also noted, wide discretion and subjective assessment are being replaced by team-based assessment and a system wherein draft order is issued in one city, review is done in another city and finalization is done in yet another city, said the Principal Chief Commissioner. This apart, the scheme gives opportunity to taxpayers, in case of any order prejudicial before finalizing the Assessment order.

The Principal Chief Commissioner urged all taxpayers to visit the e-filing portal to understand how easy it is to use the platform from where all issues with the Department can be resolved easily. "On our part we expect you to understand and try to adapt; We will also provide suitable infrastructure facilities and ensure tax compliance is easy for tax payers", stated Shri Jha

A National e-Assessment Centre (NeAC) and a network of Regional e-Assessment Centres will be set up to implement the Faceless Assessment Scheme of the Income Tax Department, launched nation-wide by Prime Minister Shri Narendra Modi on 13th August, 2020. The regional assessment network would comprise assessment units, verification units, technical units and review units. The system allows for dynamic jurisdiction, team-based working, and functional specialization and does away with human interface altogether.

The Chief Commissioner of Income-Tax (ReAC) Mumbai, Smt. Lekha Kumar and Principal Commissioner of Income-Tax, Mumbai, Shri. Kaushal Shrivastava also addressed the participants and responded to their queries.

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DL/SC/PK

(Release ID: 1649006)

 

Ministry of Finance

A National e-Assessment Centre will be set up to implement Faceless Assessment: Principal Chief Commissioner of Income Tax, Mumbai

“Faceless Assessment is a Tax Assessment System designed for the 21st century”

Dated: 26 AUG 2020

A National e-Assessment Centre (NeAC) and a network of Regional e-Assessment Centres will be set up to implement the Faceless Assessment Scheme of the Income Tax Department, launched nation-wide by Prime Minister Shri Narendra Modi on 13th August, 2020. The regional assessment network would comprise assessment units, verification units, technical units and review units. The system allows for dynamic jurisdiction, team-based working, and functional specialization and does away with human interface altogether. This was informed by the Principal Chief Commissioner of Income Tax, Mumbai, Shri Patanjali Jha, during a webinar on “Faceless Assessment Scheme and Virtual Court Hearings”, conducted by KPMG India.

Making a comparison between the faceless assessment system and the current system it replaces, the Principal Chief Commissioner explained how the new system is one designed for the 21st century. There is no discretion in selection of assessment cases, while earlier, case selection used to happen manually. In place of single territorial jurisdiction, we now have automated random allocation of cases. While notices used to be issued both manually and on the system, issue of notices will now be done through a central mechanism (by NeAC) in electronic mode. There shall be no physical meetings between taxpayers and officers. Wide discretion and subjective assessment are being replaced by team-based assessment and a system wherein draft order is issued in one city, review is done in another city and finalization is done in yet another city. This thereby leads to an objective, fair and just assessment order, said the Principal Chief Commissioner.

Along with Pr. CCIT, Mumbai, Chief Commissioner of Income-Tax (ReAC) Mumbai, Smt. Lekha Kumar and Principal Commissioner of Income-Tax (ReAC), Mumbai, Smt. Ratna Dasgupta also addressed the participants and responded to their queries.

The Webinar was organized to promote the awareness amongst the stakeholders about the new faceless assessment scheme and had an overwhelming participation of more than 1,000 participants. The department intends to hold more such outreach programmes in coming days to educate the tax payers about the new faceless assessment scheme.

Faceless Assessment Scheme was rolled out in the Income Tax Department as a pilot project in September, 2019. Initially, a limited number of cases were picked up for faceless assessment which was being done at eight centres in the country. The Prime Minister of India, Shri Narendra Modi announced the extension of the scheme to the entire department on 13th August 2020. The scheme is also being extended to the first appellate authority i.e. Commissioner of Income Tax (Appeals) from 25th September, 2020.

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DJM /DR

(Release ID: 1648814)

 

Government of India

Department of Revenue

Ministry of Finance

Central Board of Direct Taxes

New Delhi, 21^st August, 2020

PRESS RELEASE

Income Tax Department conducts searches in Bhopal

The Income Tax Department carried out a search and seizure operation on 20.08.2020 at various locations in Bhopal.

The key person of one of the groups covered used to run a bangles shop. Another person covered is a property builder/developer and is also running a cricket academy. During the course of the search operation, documents pertaining to about 100 properties in the nature of plots, flats and agricultural lands having market value of about Rs.105 crore have been found. Documents indicate that a huge amount of undisclosed cash was invested in these properties in the last 6 years. Most of the properties have been found in the names of persons of no means, indicating that these are benami properties. During the search, cash and jewellery worth Rs. 1.8 crore have been seized.

Further, documentary evidence gathered during the search operation indicates partnership / association with some retired government servants and holding of their benami properties.

Investigations are still in progress.

(SurabhiAhluwalia)

Commissioner of Income Tax

(Media & Technical Policy)

Official Spokesperson, CBDT

 

Government of India

Department of Revenue

Ministry of Finance

Central Board of Direct Taxes

PRESS RELEASE

New Delhi, 11th August, 2020

Income Tax Department conducts search on premises of Chinese entities.

Based on the credible information that few Chinese individuals and their Indian associates were involved in money laundering and hawala transactions through series of shell entities, a search action was mounted at various premises of these Chinese entities, their close confederates and couple of bank employees.

Search action revealed that at the behest of Chinese individuals, more than 40 bank accounts were created in various dummy entities, entering into credits of more than Rs. 1000 crores over the period. A subsidiary of Chinese company and its related concerns have taken over Rs. 100 crores bogus advances from shell entities for opening businesses of retail showrooms in India. Further, incriminating documents in respect of hawala transactions and laundering of money with active involvement of bank employees and Chartered accountants has been found as a result of search action. Evidences of foreign hawala transactions involving Hongkong and US dollars have also been unearthed. Further investigations are under progress.

(Surabhi Ahluwalia)

Commissioner of Income Tax (Media & Technical Policy)

Official Spokesperson,CBDT