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: ACCOUNTING STANDARD :: empanelment :: articles on VAT and GST in India :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: cpt :: list of goods taxed at 4%
 
 
« News Headlines »
 Income Tax Filing 2017: All you want to know about the single page ITR form SAHAJ
 How to benefit from investments in tax saving mutual funds
 60 per cent of income tax notices on fishy cash deposits returned
 All about income tax return form Sahaj
 Why seeing Form 26AS is a must before filing tax return and how to access it
 No tax on notice period pay cut
 Interpretation Of Central Goods And Services Tax (Cgst) Act (Part-1)
 What to do if you haven’t filed your taxes
 Income Tax Declaration To Employer: 10 Changes You Should Be Aware Of
 What your income tax says about you
 Self e-filing of income tax returns

Tax officers choose pvt sector over govt
March, 28th 2007
Around 100 top officials of the Income Tax, Customs and Central Excise departments have put in their papers to join the lucrative private sector and would be getting a hike of 4-6 times in their salary package. 
 
Our most experienced tax officials are leaving service to join private firms like Ernst&Young, PricewaterhouseCoopers, IndiaBulls and even industrial houses like Reliance and Tata Group, as they get higher financial package in the private sector, said a senior official in the Income Tax (I-T) department. 
 
Almost every fortnight one or two officials of the I-T department opt for voluntary retirement as they realise the opportunities for them in the market are vast ,with their expertise in corporate tax and legal matters, he said. 
 
In fact, over the past few months, over 26 Grade-A officials have put in their papers in the I-T department. In the Central Customs and Excise Department 55 officers have left service in 2006 alone, sources said. 
 
Many officials, the sources said, are waiting for the government to either provide them some interim relief or for announcement of a better financial package under the voluntary retirement scheme (VRS). 
 
After the creation of new 288 posts, the I-T Department has about 4,100 Group-A officials, while the number is around 2,500 in the Central Excise and Customs. 
 
Official sources in the Central Board of Direct Taxes (CBDT) said, with direct tax collection growing by over 35 per cent annually, the department is facing a shortage of professionals, which is affecting the scrutiny and investigationsof cases. 
 
In a submission to the Sixth Central Pay Commission, the Indian Revenue Service (IRS) Officers Association of Customs and Excise claimed that despite higher skills, tax officials were not offered parity with IAS cadre as far as salary, housing and promotion avenues are concerned. 
 
The Government is, in losing revenue worth thousands of crores by not attracting and retaining young tax officials, the sources added. 
 
Tax officials claimed that with the total central tax collections expected to cross Rs 500,000 crore next fiscal, the government should consider providing separate financial package to the officials in the tax division to maingtain motivatio levels. 
 
Notably, the cost of tax collection in India is the lowest compared to other economies like the US, China and European countries. 
 
According to Chitra Gouri Lal President IRS (C&CE) Association, the government should take corrective measures to check the exodus and create better working conditions and emoluments that are comparable to those offered by the private sector. 
 
The tax officers have demanded enhancement in retirement age to 62 years, besides a 10 per cent skill enhancement pay.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Outsourcing Company Offshore Software Outsourcing Software Outsourcing Company India Offshore Outsourcing Company India Software BPO Software Business Process Outsourcing Software Outsourcing India Offsho

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