Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: cpt :: articles on VAT and GST in India :: TDS :: form 3cd :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: empanelment :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: VAT Audit :: Central Excise rule to resale the machines to a new company
« Direct Tax »
 Salaried taxpayers to get SMS alerts for TDS deductions
 Salaried tax payers to get SMS alerts on TDS deductions
 Mumbai zone direct tax collection flat in H1 FY17
 CBDT issues final rules for taxing share buy back by companies
 CBDT issues final rules for taxing share-buyback
 The direct tax collections up to September, 2016 are at Rs. 3.27 lakh crore which is 8.95% more than the net collections for the corresponding period last year.
 IDS is tremendous success: CBDT chief Rani Singh Nair
 Submit monthly data of appeals disposed of: CBDT to officers
 Direct tax mop-up jumps 9 per cent in H1, indirect tax up 26 per cent
 Income tax department slams notice on five Mumbai-based exporters over offshore accounts
 Redress TDS mismatch grievance of taxpayers: CBDT

CBDT plans to increase transparency
January, 14th 2010

Individuals as well as corporates may have fewer occasions to meet the taxmen in future. The Central Board of Direct Taxes (CBDT) is thinking of putting in place a system in which taxpayers do not meet the assessing officer or any tax official for routine assessments.

In the system being envisaged by the countrys tax regime, the tax payer would not know who his assessing officer is. Assessments will be centralised at one place where a set of officers will supervise the assessments. Each officer will be specialising in certain segment of the assessment process, such as giving credit, refunds, etc.

According to CF Kahlon, member, CBDT, four such Central Processing Centres (CPC) will be set up soon in four major cities where the computerised assessment of the I-T returns will take place.

However, the centralised assessment will not dramatically reduce the time taken for the assessments. Instead, the untold purpose of the CPC is to cut down the number of interaction between the I-T officers and taxpayers. The authorities feel that this may help reduce corruption in the department.

Indeed the tax department is taking a leaf from their counterparts in developed countries, such as Internal Revenue Service in the US and Inland Revenue Service in the UK. The revenue administration in both these countries have been able to bring down the level of corruption through automation.

Since all major transactions of the tax payers in these countries are automatically recorded into the central computer system, assessments, tax demands, tax additions and tax payments are made mostly online. Mr Kahlon said that once the CPCs are in place, the tax payer will have to meet the department officials only when the returns are selected for scrutiny.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - About Us

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions