The earnings tax branch has counseled taxpayers to check their registered e-submission bills and email IDs because the first segment of the e-Assessment Scheme 2019 has underway. In the primary phase, the profits tax branch has selected 58,322 cases for scrutiny under the brand new e-assessment scheme, and e-notices were served before the 30th of September 2019 for the instances of Assessment Year 2018-19. The earnings tax department has asked taxpayers who have received notices to respond within 15 days.
Under the new machine, taxpayers will receive notices on their registered emails in addition to on the registered money owed e-filing portal, www.Incometaxindiaefiling.gov, if their cases are selected for scrutiny. They will also be alerted through SMS on their registered cellular number, specifying the troubles for which their cases have been decided for scrutiny.
The taxpayers can put up their reaction, along with the side of required attachments, using importing the same on the resubmission portal. In a major tax reform, the income tax branch, in advance this month, has launched a faceless re-evaluation scheme to do away with the interface between an assessing officer and a taxpayer. Anyone whose case is selected for scrutiny will be able to document all of the files online. Now, the officer who is going to assess the case can also be selected randomly. E-assessment Scheme 2019 was notified on September 12.
You can download the conversation/intimation in PDF format by clicking the link mentioned under Reference ID. The National e-Assessment Centre in Delhi might be headed by an essential leader commissioner of income tax. There are eight nearby e-assessment centers in Delhi, Mumbai, Chennai, Kolkata, Ahmedabad, Pune, Bengaluru, and Hyderabad. Mumbai: Reserve Bank of India (RBI) governor Shaktikanta Das will meet heads of public sector banks on Tuesday as the central bank looks to push more transmission of policy rates.
According to 2 public zone bank chiefs, Das is expected to discuss the transmission of repo fee cuts into lending rates, confusing assets, and a credit score increase with the aid of these banks. This follows Monday’s assembly of the bankers with Finance Minister Nirmala Sitharaman. “While the meeting with the finance minister focused in large part on credit score increase and the micro, small, and medium organization (MSME) segment, the governor will take inventory of the lending price situation and harassed belongings,” stated the primary banker quoted above.
He said most banks have linked their retail lending quotes to an outside benchmark or even decreased the marginal value of finance-based lending rates (MCLR). The significant financial institution has cut its key coverage fee by way of 135 basis points in view that the start of this 12 months, in five consecutive price cuts. While 4 rate cuts were off 25 basis points each, the primary financial institution used an unconventional 35-bps reduction in August. To improve the transmission of interest rates, the RBI, on four September, requested banks to link their lending rates on floating fee loans to retail, personal, a nd micro, small, and medium companies (MSME) borrowers to an outside benchmark from 1 October.
Mint suggested that Sitharaman said efforts are being made on Monday to make sure that huge corporations pay their dues to micro, small, and medium companies (MSME) in advance of Diwali. After an overview meeting with heads of public-sector banks (PSBs), Sitharaman, at a press conference, stated that banks had been asked to provide bill discounting facilities to MSMEs against bills due from large corporations.
