Description
Taxmann Publications Faceless Assessment And Appeals Ready Reckoner With Real Time Case Studies by Mayank Mohanka
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
About the author
Mayank Mohanka
Sh. Mayank Mohanka is a seasoned Tax Practitioner, a Fellow Member of the Institute of Chartered Accountants of India and a Bachelor of Commerce, in Honours Degree from Shri Ram College of Commerce (SRCC), Delhi University.
He has a 15+ years of rich and profound experience in the field of Taxation (Direct & Indirect) and Advisory. He makes Representations for a widely diversified cross section of industries including Power Sector, Banking & Finance, Real Estate, Food Processing, Infrastructure, Manufacturing, Education and Information Technology, before Authority for Advance Rulings, ITAT, Education Boards and other appropriate forums.
He has to his credit 35 distinguished, informative, useful and practically oriented published articles in reputed journals, sites and platforms including Taxmann, on wide ranging subjects including Income Tax, GST, PF, ESI, IBC, Corporate Laws, Education Acts & FEMA.