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Manual of Office

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Ayush Bhadauria
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44 views

Manual of Office

Uploaded by

Ayush Bhadauria
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Manual of Office

Procedure
Presented by:Ayush
Bhadauria(7709)
Vision,Mission and Values of Income Tax
Dept.
• Collecting resources efficiently
Vi
sio • Considerate towards its clients
n
• Promote compliance of direct tax laws,caring taxpayer
Mi service,strict enforcement of law and realize maximum resources
ssi for the nation
on
Va
• Integrity of Conduct,Dedication to duty and values
lue • Professionalism and attitude of service to clients
s
Historical Perspective
• Inception of Department : 1922(Gave Nomenclature to authorities)
• 1940 - Directorate of Inspection (Income-tax) came into being.
• 1941 - Income-tax Appellate Tribunal came into existence
• 1946 - A few officers of Class-I directly recruited.
• 1952 - Directorate of Inspection (Investigation) set up
• 1957 - I.R.S.(DT) Staff College started functioning at Nagpur
• 1961 - Income-tax Act, 1961 came into existence w.e.f. 1-4-1962
• 1964 - Central Board of Direct Taxes (CBDT) constituted under the Central
Board of Revenue Act, 1963.
Historical Perspective(Contd.)
• 1965 - Voluntary Disclosure Scheme came into operation.
• 1981 - I.R.S.(DT) Staff College, Nagpur, re-designated as National
Academy of Direct Taxes
• 1983 - Computerised systems for processing challans and PAN designed
and developed.
• 1987 - Direct Tax Law(Amendment) Act 1987 introduced uniform
previous year and redesignated the authorities (Income tax Officer Gr A to
Assistant Commissioner of Income tax
Historical Perspective(Contd.)
• 1994 - Regional Computer Centres (RCCs) were set up in Chennai, Delhi and
Mumbai
• 1997 - Minimum Alternate Tax introduced.
• 1999 - Samman Scheme introduced to honour deserving tax payers.
• 2002 - Computerised processing of returns all over the country introduced.
• 2004 - Fringe Benefit Tax (FBT) and Securities Transaction Tax (STT) was
introduced.
• 2008 - Cyber Forensic Labs were setup
Historical Perspective(Contd.)
• 2009 - Centralized Processing Centre was setup in Bengaluru for bulk processing of e-filed
and paper returns.
• 2016 - Introduction of Equalisation levy. Pradhan Mantri Garib Kalyan Yojana (PMGKY)
was launched for for declaring unaccounted income.
• 2017 - Tax rate for the lowest slab of Rs. 2,50,000 to Rs. 5,00,000 was reduced from 10% to
5%
• 2019 - Introduction of e-Assessment Scheme, 2019
• 2020 - Introduction of Faceless Assessment Scheme 2020 & Faceless Appeal Scheme 2020.
• 2022 - Introduction of Taxation of Virtual Digital Assets.
Ministry of Finance

• Responsible for the administration of the finances of


the Central government
• Three Core Functions
1. Mobilisation of resources
2. Regulation of expenditure of Central government
3. Transfer of resources to the States
Departments of Ministry of Finance
Department of Department of
Economic Affairs Expenditure

Department of Department of
Revenue Investment and Public
Asset Management
Department of Financial Department of Public
Services Enterprises
Department of Revenue
• exercises control in respect of matters relating to all the Direct
and Indirect Union Taxes
• two statutory Boards namely, the Central Bord of Direct Taxes
(CBDT) and the Central Board of Indirect Taxes and Customs
(CBIC).
• administers the acts like GST Act 2017,Income Tax Act
1961,PMLA 2002
Central Board of Direct Taxes

• Apex body for the administration of laws relating to


direct taxes
• Created under Central Board of Revenue Act, 1963
Central Board of Direct Taxes

Headed by Chairman and also comprises of six members


1.Member (Income Tax)
2.Member (Legislation and Computerisation)
3. Member (Investigation)
4.Member (Revenue)
5. Member (Personnel & Vigilance)
6. Member (Audit & Judicial)
Areas for Collective Decision By CBDT
• Set up and structure of Income Tax Department
• Measures for disposal of assessments, collection of taxes, prevention and
detection of tax evasion and tax avoidance
• Recruitment, training and all other matters relating to service conditions and
career prospects of all personnel of the Income-tax Department
• Laying down of targets and fixing of priorities for disposal of assessments
and collection of taxes and other related matters
• Write off of tax demand exceeding Rs.25 lakhs in each case
THANK YOU

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