WebS.O. 2425(E).- In exercise of the powers conferred by sub-section (2A) of section 274 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following Scheme to amend the Faceless Penalty Scheme, 2024, namely: 1. Short title and commencement.–(1) This Scheme may be called the Faceless Penalty (Amendment) … WebJan 21, 2024 · The scheme has been structured in such a way that NFPC would have the power to disagree with the proposal of the National Faceless Assessment Centre to initiate penalty. Under FPS, there will also ...
Faceless Penalty Scheme 2024- Decoding New Rules
WebJan 16, 2024 · After introduction of Faceless Assessment Scheme and Faceless Appeals Scheme, CBDT on 12th January 2024 issued the Faceless Penalty Scheme, 2024 to bring various penalty proceedings under the ... WebSep 10, 2024 · Scheme of Faceless assessment was launched in August 2024 as the part of the tax reform called as faceless tax assessment scheme. The main objective is to make … swedbank bank account number
Faceless Penalty Scheme 2024 - Tax Authorities - India - Mondaq
WebMar 14, 2024 · The Faceless Penalty Scheme was made applicable w.e.f. 12-01-2024 and the CBDT vide Order F. No. 187/4/2024-ITA-1, dated 26-2-2024 & 20-1-2024, had notified … WebDec 29, 2024 · The scheme, notified on Wednesday, specifies setting up of national faceless penalty centres, regional penalty centres, penalty units and review units for execution of penalty proceedings, such that a penalty order is issued correctly and undergoes review before being issued to an assessee. WebJan 13, 2024 · Updated Jan 13, 2024, 3:33 PM IST. The Income Tax Department has introduced Faceless Penalty Scheme, 2024. The Central Board of Direct Taxes (CBDT) … swedbank board of directors