https://www.taxtmi.com/news?id=23631 The Budget exempts senior citizens aged seventy-five and above with only pension and interest income from filing income-tax returns, with banks to deduct required tax; reduces reopening period for assessments to three years while permitting longer reopening in serious concealment cases with higher-authority approval; proposes a faceless Dispute Resolution Committee for modest disputes and a National Faceless Income Tax Appellate Tribunal Centre; and introduces pre-filling of returns, higher tax-audit threshold for predominantly digital businesses, and extensions of tax incentives for affordable housing and start-ups. en-us Mon, 01 Feb 2021 13:46:01 +0530 Mon, 01 Feb 2021 13:46:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=23631 The Budget exempts senior citizens aged seventy-five and above with only pension and interest income from filing income-tax returns, with banks to deduct required tax; reduces reopening period for assessments to three years while permitting longer reopening in serious concealment cases with higher-authority approval; proposes a faceless Dispute Resolution Committee for modest disputes and a National Faceless Income Tax Appellate Tribunal Centre; and introduces pre-filling of returns, higher tax-audit threshold for predominantly digital businesses, and extensions of tax incentives for affordable housing and start-ups. News - Mon, 01 Feb 2021 13:46:01 +0530 https://www.taxtmi.com/news?id=23631