TaxTMI 
TaxTMI 
TaxTMI 
Stakeholder engagement by the Task Force drafting the new Direct Tax Law
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....takeholder engagement by the Task Force drafting the new Direct Tax Law <br>Income Tax<br>Dated:- 22-3-2018<br><BR>A Task Force has been constituted to review the Income-tax Act, 1961 and to draft a new Direct Tax Law in consonance with the economic needs of the country. In this endeavour of drafting the new tax law, it is imperative to engage with stakeholders and general public. Accordingly, su....
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....ggestions and feedback are invited from stakeholders and general public in the format provided on the departmental website www.incometaxindia.gov.in. The format can be downloaded from the website and suggestions/ feedback may be sent through e-mail at [email protected] latest by 2nd April, 2018. PDF DOWNLOAD ============= Document 1 S. No. A A.1 A.2 A.3 A.4 Task Force to draft....
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.... a New Direct Tax Law (Suggestions and Feedback from Stakeholders and General Public Invited) General Information Name Address Status (Individual/ HUF/ Firm/Company/Trust/AOP/BOI) e-mail Contact Number (Optional) Questionnaire Issue Response Comments/ Suggestions (if any) Filing of return of income Whether you could fill return forms ITR-1 (Sahaj)/ ITR- Yes/No/NA 2 for non-busine....
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....ss taxpayers without any help from a professional/Tax Return preparer? Do you face any difficulty in e-filing of the return of Yes/No/NA income (ITR 1 to 7)? Do you have any suggestion regarding adding a new category or any further information in the IT Return? Yes/No/NA Should exempt income be reported separately in the Yes/No/NA IT Return? B Tax Credit B.1 Whether any issues are bein....
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....g faced in e-filing of the Yes/No/NA TDS returns? B.2 B.3 Whether certificates under section 197 for nil/ lower Yes/No/ NA deduction of tax at source are being timely issued? Whether your tax credit is reflected correctly in Form 26AS? What are your suggestions to tackle the mismatch, if any? Yes/No/NA ΓΒ Processing/Scrutiny of return C.1 Are you satisfied with present system of ce....
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....ntralised processing of return in terms of its time and online Yes/No/NA communication with the Centralised Processing Centre (CPC)? C.2 C.3 C.4 C.5 Are your refunds being processed timely and Yes/No/ NA correctly? Do you feel that an appropriate show cause is being Yes/No/NA issued by the Assessing Officer (AO) before making any addition in the assessment? Do you feel that reasonabl....
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....e opportunity in terms of time is being provided to respond to the show cause notices proposing the additions, if any? Yes/No/NA Do you feel that the system of approval of order by Yes/No/NA the Dispute Resolution Panel (DRP) has worked well to avoid high pitched assessment? If not, please state the problems and provide suggestions to improve the same. C.6 Do you feel that rectification ....
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....applications are being Yes/No/NA disposed off within the prescribed time of six months? C.7 Do you feel that the e-assessment process will be Yes/No/NA helpful in improving transparency, accountability and effectiveness of the tax administration? C.8 Do you feel that refunds in scrutiny assessments are being computed and received timely? Yes/No/NA D Litigation and recovery of disputed ....
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....tax demand D.1 Do you think that there should be a strong Alternate Dispute Resolution mechanism for reaching effective Yes/No/NA resolutions? D.2 Do you feel the Mutual Agreement Procedure (MAP) Yes/No/ NA is effective, quick and transparent? D.3 D.4 D.5 Do you feel that appeals are being disposed off by the Commissioner of Income tax (Appeals) [CIT(A)] in time? Do you think that s....
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....pecifying percentage of demand to be paid (20%) before disposal of appeal by CIT(A) has curtailed the arbitrariness and streamlined the process for collection of demand? Yes/No/NA Yes/No/NA Do you feel that the Authority for Advance Ruling Yes/No/ NA (AAR) forum should be available to all the assessees (residents and non-residents) for determining the tax liability upfront on complex tran....
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....sactions? D.6 What are your views on the working of Income Tax Settlement Commission (ITSC)? D.7 What are your views on the working of Income Tax Appellate Tribunal (ITAT)? E Penalty and Prosecution E.1 What are your views on levy of penalties for various defaults under the Income-tax Act, 1961? E.2 At what stage [Assessment/ 1st Appeal/ 2nd Appeal] should the penalty for tax evasion....
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.... be levied? E.3 Do you feel that prosecution for TDS is being launched in an appropriate manner? Yes/No/NA E.4 Whether present system of compounding of alleged Yes/No/ NA offence has worked well? F Any Other Suggestions<BR> News - Press release - PIB....