Central Board of Direct Taxes (CBDT) has issued Notification dated 13th August, 2020 to make further amendments in the E-assessment Scheme, 2019.
Key Points of the Amendmends are :
1) E-assessment scheme shall be called Faceless Assessment.
2) Definition of “Assessment” shall also mean assessment of total income or loss of the assessee as per the Best judgement assessment.
3) The assessment under this Scheme shall be made as per the following procedure:
i. The National e-Assessment Centre shall serve a notice on the assessee specifying the issues for selection of his case for assessment.
ii. The assessee may, within fifteen days from the date of receipt of notice , file his response to the National e-assessment Centre.
iii. Where the assessee has furnished his return of income or has not furnished his return of income in response to a notice issued or has not furnished his return of income which has escaped assessment and a notice has been issued in this regard, then the National e-Assessment Centre shall intimate the assessee that assessment in his case shall be completed under this Scheme.
iv. the National e-assessment Centre shall issue appropriate notice or requisition to the assessee or any other person for obtaining the information, documents or evidence requisitioned by the assessment unit.
v. The assessee or any other person, as the case may be, shall file his response to the notice within the time specified therein or such time as may be extended on the basis of an application in this regard, to the National e-Assessment Centre.
vi. Incase, the assessee fails to comply with the notice issued, then the National e-Assessment Centre shall serve upon such assessee a notice under Best Judgement Assessment giving him an opportunity to show-cause, on a date and time to be specified in the notice, why the assessment in his case should not be completed to the best of its judgment.
vii. the assessee shall, within the time specified in the notice or such time as may be extended on the basis of an application in this regard, file his response to the National e-Assessment Centre.
4) All communications between the National e-assessment Centre and the assessee, or his authorised representative or any other person shall be exchanged exclusively by electronic mode.
5) An electronic record shall be authenticated by the assessee or any other person by affixing his digital signature if he is required to furnish under the rules his return of income under digital signature and in any other case by affixing his digital signature or under electronic verification code.(“electronic verification code” means a code generated for the purpose of electronic verification of the person furnishing the return of income as per the data structure and standards specified by Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems). Also,a new clause has been inserted under the definitions to provide the definition of Rules which shall mean Income Tax Rules, 1962.
For further details please refer the attached document.
Source: Central Board of Direct Taxes (CBDT)
