BUSINESS
Faceless Income – Tax Assessment: How Does It Work?
The National Faceless Assessment Centre (NFAC), along with other centres and units, have been established by the Central Board of Direct Taxes (CBDT). The NFAC is in charge of conducting an assessment of your income-tax returns if they are picked up in scrutiny.
BUSINESS
What Union Budget for 2023-24 has for individual taxpayers
There are trade-offs in switching from the current income tax regime to the new one that offers fresh rebates, but the utility depends on the salary bracket, and the system has moved from an opt-in one to opt-out.
