Income Tax Notes – Income Tax Authorities (Powers and Functions of FBR “Federal Board of Revenue” Long Question with Answer) for B.com, ADP, BS, BBA Income Tax Notes – Income Tax Authorities (Powers and Income Tax Authorities and their Powers The Government of India has constituted a number of authorities to execute the Income Tax Act and to control the Income Tax Department efficiently. "Within the specified area" omitted, by s. 3, Indian I.T. The Direct Tax Laws Act, 1987 has brought far-reaching changes in the organizational structure. Income Tax Authorities are also granted power to survey and order persons to submit certain information. For competent authority functions and procedures of the United States, see 940 T.M., U.S. Income Tax Treaties — U.S. Income-tax authorities shall exercise all or any of the powers and perform all or any of the functions conferred on, or, as the case may be, assigned to such authorities by or under this Act in accordance FUNCTIONS AND STRUCTURE OF THE DEPARTMENT OF REVENUE The Department of Revenue is mainly responsible for the following functions: - All matters relating to levy and collection of Direct Taxes. (6) The Central Board of Revenue may, by notification in the Official Gazette, empower Commissioners of Income-tax, Appellate or Inspecting Assistant Commis sioners of Income-tax and Income-tax Officers to perform such functions in respect of such classes of persons or such classes of income [or such area] as may be specified in the notification, and thereupon the functions so specified shall cease * * to be performed in respect of the specified classes of persons or classes of income [or area] by the other authorities appointed under sub-sections (2) and (3). • Part IV provides a summary of selected administrative powers given to tax bodies in OECD countries to carry out their mandate. (Amendment) Act, 1953, w.e.f. Withholding Tax Guide 2021(PDF/1,337KB) Withholding Tax Guide 2020(PDF/1,187KB) Types, etc. FUNCTION AND POWERS OF COMMISSIONER OF INCOME TAX: The commissioner exercises the power to control the staff of income tax department working in his jurisdiction. The Explanation retrospectively inserted by s. 2, Indian I.T. Following are the powers and functions of all of these income tax Return of Income and Procedure of Assessment (Section 139 to 154), (PAN) [Section 139A] and Aadhaar Number (Section 139AA). 1-4-1939. tax (PIT), corporate profits/income tax (CIT), and value added tax (VAT). Substituted, by s. 4, Indian I.T. Directors of Income-tax or Commissioners of Income-tax or Commissioners of Income-tax (Appeals). CA Tarannum Khatri Tax Settlement Commission, a quasi judicial body, was set up under section 245B of Income-tax Act 1961. 1-4-1952. (3) The Central Government may appoint as many Appellate or Inspecting Assistant Commissioners of Income-tax and Income-tax Officers of Class I service as it thinks fit, and the Commissioner may, subject to the rules and orders of the Central Government regulating the conditions of service of persons in public services and posts, appoint as many Income-tax Officers of Class II service and Inspectors of Income-tax as may, from time to time, be sanctioned by the Central Government. [(5A) Inspectors of Income-tax shall perform such functions in the execution of this Act as are assigned to them by the Income-tax Officer or other Income-tax authority under whom they are appointed to work, and shall be subordinate to such Officer or authority.]. [(2) The Central Government may appoint as many Commissioners of Income-tax as it thinks fit and they shall perform their functions in respect of such areas or of such persons or classes of persons or of such incomes or classes of incomes or of such cases or classes of cases as the Central Board of Revenue may direct, and where such directions have assigned to two or more Commissioners of Income-tax the same area or the same persons or classes of persons or the same income or classes of incomes or the same cases or classes of cases, they shall have concurrent jurisdiction subject to any orders which the Central Board of Revenue may make for the distribution and allocation of work to be performed. Following are the important functions and powers of commissioner of income tax. What are the functions of Income Tax Authorities? investigation into economic offences and enforcement of economic laws. First, tax revenue provides the lower income groups with benefits in cash and kind. (Amendment) Act, 1940. Inserted by s. 3, Indian I.T. (Amendment) Act, 1940 w.e.f. In this session, i have discussed the Income Tax Authorities and their functions with special on Central Board of Direct Tax (CBDT). The Central Board of Direct Taxes (CBDT) has authorised income tax authorities to share information or details in its possession with the Competition Commission of India (), in a notification issued on Friday. He can start proceedings for non filing of return, imposition of penalties etc. 1-4-1939. Jan 12, 2021 - Powers and duties - Income Tax Authorities, Income Tax Laws B Com Notes | EduRev is made by best teachers of B Com. The Central Board of Direct Taxes is the supreme body in the direct tax set-up. 1-4-1960. The income-tax authorities shall exercise all or any of the powers and perform all or any of the functions conferred on, or assigned to, such authorities in accordance with the directions issued by the CBDT for the exercise of such powers and performance of the functions by … Important Notes – Government has proposed … 'Assessments' Under Income Tax Act. It functions under the Department of Revenue of the Ministry of Finance. MOF Authorities Egyptian Tax Authority Egyptian Transfer Pricing Guidelines-2018 Income Tax Law No. All efforts are made to keep the content of this site correct and up-to-date. (i) Inspecting Assistant Commissioners shall be subordinate to the Director of Inspection and to the Commissioner of Income-tax within whose jurisdiction they perform their functions; (ii) Income-tax Officers shall be subordinate to the Director of Inspection, the Commissioner of Income-tax and the Inspecting Assistant Commissioner of Income-tax within whose jurisdiction they perform their functions. Directors-General of Income-tax or Chief Commissioners of Income-tax. The implementation of the Act lies in … (5) Inspecting Assistant Commissioners of Income-tax and Income-tax Officers shall perform their functions in respect of such persons or classes of persons [or of such incomes or classes of income or] in respect of such areas as the Commissioner of Income-tax may direct, [and, where such directions have assigned to two or more Inspecting Assistant Commissioners of Income-tax or Income-tax Officers, the same persons or classes of persons or the same incomes or classes of income or the same area] in accordance with any orders which the Commissioner of Income-tax may make for the distribution and allocation of the work to be performed. The Direct Tax Laws Act, 1987 has brought far-reaching changes in the organizational structure. Income tax authority [Explanation (a) to section 133A]: "Income-tax authority" means a Commissioner, a Joint Commissioner, a Director, a Joint Director, an Assistant Director or a Deputy Director or an Assessing Officer, or a Tax Recovery Officer, and for the purposes of clause (i) of subsection (1), clause (i) of sub-section (3) and sub-section (5), includes an Inspector of Income-tax. 1-4-1952. Form the time of filing of return till the assessement is completed he plays a pivotal role . The Central Board of Direct Taxes is the supreme body in the direct tax set-up. The Income Tax Department (also referred to as IT Department or ITD) is a government agency undertaking direct tax collection of the Government of India. It functions under the Department of 1-4-1952. (Amendment) Act, 1940, w.e.f. ], [(7A) The Commissioner of Income-tax may transfer any case from one Income-tax Officer subordinate to him to another, and the Central Board of Revenue may transfer any case from any one Income-tax Officer to another. He is also responsible for the efficiency of work in all respect in his zone. Substituted for "and, where two or more Inspecting Assistant Commissioners of Income-tax or Income-tax Officers have been appointed for the same area", by s. 3, Indian I.T. Substituted for "and of such incomes or classes of income and", by s. 3, Indian I.T. The visitors may click here to visit the web site of Income Tax Department for resolving their doubts or for clarifications, 'Profits and Gains of Business or Professions' [Section 28 to 44], Tax Deducted at Source (TDS) [Section 190 to 206CA], Set off or Carry Forward of Losses [Sections 70 to 80], Deductions [Sections 80A to 80U (Chapter VIA)], Tax Collection at Source (TCS) [Section 206C]. 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