Income Tax Authorities And Their Powers Pdf

income tax authorities and their powers pdf

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The Central Board of Direct Taxes is the supreme body in the direct tax set-up. It has to preform several statutory functions under the various acts and it is responsible for the formulation and implementation of different policies relating to direct taxes administration. The Board consists of a Chairman and six members.

INCOME-TAX AUTHORITIES - Income-tax Act, 1961

Functions of Authority. Discuss the jurisdiction, powers and function of income tax commissioner. Now customize the name of a clipboard to store your clips. Section and of Income Tax Act deals with Jurisdiction of income-tax authorities Section Income tax authorities shall exercise all or any of powers and functions conferred upon it by CBDT. Power to distrain for non-payment of tax. Income Tax Authorities are also granted power to survey and order persons to submit certain information.

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What leads to income tax raids, searches and seizures? The main reasons are non-compliance with summons under Section 1 of the Income Tax Act, , hereinafter referred to as the Act or a notice under Section 1 of the Act described in Chapter VII, infra , likely non-compliance with such summons or notice, or the possession of undisclosed property or income. It is therefore absolutely necessary for a current income tax assessee or a likely income tax assessee to comply with the summons or notice issued by the Assessing Officer, or any other such authorised person. The summons or notice calls for the books of account or other documents to be produced before the authorised officer. If, for some reason it is not possible to submit the documents on the appointed date and time, the authority concerned should be informed in advance and a suitable alternate date sought. If a person thus cooperates with the tax authorities there would be no occasion for them to conduct tax raid against him on these grounds.

The Income Tax Department appeals to taxpayers NOT to respond to such e-mails and NOT to share information relating to their credit card, bank and other financial accounts. Click to view the institutions registered under section 80G, 12 A and more. The officials of the Board in their ex-officio capacity also function as a Division of the Ministry dealing with matters relating to levy and collection of direct taxes. The Central Board of Revenue as the apex body of the Department, charged with the administration of taxes, came into existence as a result of the Central Board of Revenue Act, Initially the Board was in charge of both direct and indirect taxes. However, when the administration of taxes became too unwieldy for one Board to handle, the Board was split up into two, namely the Central Board of Direct Taxes and Central Board of Excise and Customs with effect from 1.

Income Tax Authorities, Powers and Duties - Income Tax Laws B Com Notes | EduRev

The Direct Tax Laws Act, has brought far-reaching changes in the organizational structure. The implementation of the Act lies in the hands of these authorities. The change in designation of certain authorities and creation of certain new posts in the structure are the main features of amendments made by The Direct Tax Laws Act,

Ever since the enactment of the original Income-tax statute of , the Income-tax authorities have been vested with certain powers that are coterminous with the powers of a Court under the Code of Civil Procedure, Section of the Income-tax Act, is one such provision which includes, inter alia, the power to enforce the attendance of any person and examine him on oath. It enables the authorities to conduct inquiry and collect evidences in support of their contentions. It also helps to bring to light the correct facts and circumstances, for the purpose of carrying out proceedings under the Act and is treated to be equally fair to the Department as well as the assessee.

The government of India imposed the Income Tax Act in the year Two categories of taxation were prescribed. Income tax or the tax taken by the government on an individual on his earnings is income tax. The government has set up various authorities for lawful execution of the income Tax Act and to oversee the righteous functioning of the income tax department. The various incometax authorities for the purposeful existence of the Act are.

Income Tax Authorities, Powers and Duties - Income Tax Laws B Com Notes | EduRev

The Direct Tax Laws Act, has brought far-reaching changes in the organizational structure. The implementation of the Act lies in the hands of these authorities.

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1. CBDT or the Central Board of Direct Taxes which has been constituted under the. Central Board of Revenue Act 2. Director general of income.

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