India, through CBDT, has signed several Double Taxation Avoidance Agreements (DTAAs) to prevent businesses and individuals from being taxed twice on the same income by two countries. The CBDT works very closely with the Ministry of Finance on many financial issues, especially when preparing the national budget. It is very important in suggesting tax rates, exemptions, and discounts. The Union Finance Minister Nirmala Sitharaman chaired a review meeting with the Central Board of Direct Taxes (CBDT), that discussed the taxpayer base, and new TDS codes among other issues. 39.
- It consists of a Chairman and six members, all of whom are appointed by the Central Government.
- This important group manages income tax policies, rules, and how they are enforced.
- All matters relating to prosecution and compounding under Direct Tax laws.
- The ITD offers several digital services, including e-filing of tax returns, Aadhaar-PAN linking, e-assessment, digital communication for notices, and an online grievance redressal system.
- Online services like e-filing and tax payments are managed by the department, enhancing taxpayer convenience.
Section 194Q – Tax Deduction on The Purchase of Goods
Administrative matters including complaints/petitions, disciplinary proceedings relating to Investigation Directorates, Central charges and Intelligence & Criminal Investigation Directorates. 14. All matters relating to investigation in Virtual Digital Assets/Cryptocurrency cases. All matters relating to search and seizure including statistics and cases relating to Sections 132, 132A and 132B of the Income-tax Act.
Give basic information about the Central Board of Direct Taxes (CBDT)?
Iv. Furnish report requisitioned by AD.VI & AD.VI(A) at the time of administrative/vigilance clearance for the purpose of promotion, VRS or resignation & deputation. Iii. Verification of fake caste certificates and character & antecedents of IRS (IT) officers/probationers for the year 2019 onwards and court cases emanated out of these issues.
There are 10 specialised directorates within the Income Tax Department, the cbdt is a statutory authority functioning under the most extensive and famous among these being Directorate of Investigation. 27. Any other matter relating to foreign tax that may be assigned by JS (FT&TR-II). 23. 17. 35.
History of Income Tax Department in India
To complete the consequential rectification made by assessing officers in all cases in which condonation has been provided by the CIT for the delay in filing Form 10 & 10B. Yes, the ITD conducts awareness programs, publishes educational materials, and maintains a helpdesk to educate taxpayers about their rights and responsibilities. In order to join the Income tax Department, you need to clear the UPSC civil service or SSC CGL exam. By doing so, you get the post of an Income Tax Officer at the Centre Board of Direct Taxes, Centre Board of Excise and Customs or Centre Board of Indirect Taxes. CBDT has introduced a 30% tax on income from cryptocurrencies, with a 1% TDS on high-value transactions. Through initiatives like faceless assessments, e-filing portals, and digital grievance redressal mechanisms.
After independence, the CBDT made reforms that made tax laws simpler, increased the number of people paying taxes, and improved how well people followed the tax rules. The Central Board of Direct Taxes (CBDT) is the authority vested with the responsibility of the administration of laws related to direct taxes through the Department of Income Tax. In India, necessary inputs for policy and planning are provided by the CBDT.
All matters relating to establishment of armed units, procurement of arms & ammunition, management of armory and related issues. All matters related to investigation in Cryptocurrency/Virtual Digital Assets. All matters relating to DGIT (I&Cl) including SFT Compliance, e-Verification scheme, 2021, AIR/AIS and information received through FT&TR Division under automatic exchange of information. All matters relating to prosecution and compounding under Direct Tax laws. 10. • All matters relating to prosecution, excluding appointment of counsels.
