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: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: TDS :: form 3cd :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: VAT RATES :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
Direct Tax »
 GST is a transformational business process reform. All companies will have to change
 GST Council relaxes return filing rules for July-Aug
 Here's how self-employed individual can file tax return with ITR4
 CBDT mulling new system of jurisdiction-free I-T assessment to curb corruption
 CBDT draft notice on computing tax liability of foreign firms
 CBDT forms task force for jurisdiction-free income tax assessment system
 Aadhaar must for filing returns from July 1: CBDT
 Aadhaar mandatory for filing I-T returns and obtaining new PAN card from July 1: CBDT
 Central Board of Direct Taxes cuts profit margin for safe harbour rules
 What is TDS and how does it work?
 Income tax return: Do super senior citizens have to file returns?

CBDT sets up committee to simplify tax procedures
February, 17th 2015

In yet another step to simplify tax procedures, CBDT has constituted a committee to redraft existing guidelines for undertaking write-off procedures in irrecoverable tax demand cases.

The five-member committee will be headed by a Chief Commissioner of Income Tax and has been asked by the board to submit it report and recommendations by March 31.

According to an official order issued by the Central Board of Direct Taxes (CBDT) in this regard, the committee has been formed to make guidelines and rules in this context "simpler and easier to administer."

"There are many revenue cases under the 'difficult or impossible to recover' category that languish for years as existing guidelines are considered difficult to execute. This also consumes a lot of time. The board felt that as per the government's desire to simplify tax rules, promote ease of procedures and cutting down on litigation, such a step was required," a senior I-T department officer said.

The committee has been constituted "to redraft the existing guidelines for write-off of irrecoverable demands so as to harmonise these with the prevailing economic and administrative circumstances," the order said.

The committee, while preparing the report, will also take into consideration the Tax Administration Reform Commission (TARC) recommendations made in this regard.

The official said revenue worth crores of rupees is stuck under the irrecoverable tax demand category at present.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Quality Assurance Services Testing and Re-testing

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