Introduction of Artificial Intelligence For Assessment Proceedings: CBDT Notifies Faceless Inquiry Or Valuation Scheme, 2022

The Central Board of Direct Taxes (CBDT) has notified the Faceless Inquiry or Valuation Scheme, 2022 in order to introduce the Artificial Intelligence for Assessment Proceedings under section 142 of the Income Tax Act, 1961. The Faceless Inquiry or Valuation Scheme, 2022, covers the following: issuance of notice under section 142(1) of the Income Tax Act; making inquiry...