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 STANDARDS :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: cpt :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: articles on VAT and GST in India :: due date for vat payment :: TDS
 
 
Direct Tax »
 Hopeful of meeting direct tax collection target for this financial year: CBDT
 Bengaluru tops in income tax probes after demonetisation
 Income Tax department rejects black money disclosures of over Rs 2 lakh crore
 CBDT urges people to protect bank accounts from 'unscrupulous elements'
 No change in gold seizure norms in proposed I-T Law amendments
 Direct tax collection will get a long-term boost, Franklin Templeton says
 I-T Act amendments upset calculations of cash hoarders
 Claim tax benefit on costs incurred to evict tenants
 The Integrated Goods And Services Tax Act, 2016
 Here’s what Income Tax Department did leading up to demonetisation
 I-T department asks IDS declarants to pay tax by November 30

Meet targets or face music: CBDT chief tells officials
March, 09th 2012

The chairman of the Central Board of Direct Taxes (CBDT) has told senior officials that their career prospects would depend on their success in meeting targets for tax collection, emphasising the government's desperation to raise revenues to plug the rising fiscal deficit, but raising fears among the wealthy of harassment. Laxman Dass, the chairman of CBDT, has told 100 top officials that tax revenue targets are 'nonnegotiable'.

The letter, dated February 7, admonishes his colleagues, officials of the rank of chief commissioners and director general, for their lack of success in bringing in money. "I have taken over as chairman at a time when revenue collections seem to be far away from the Budget target, with less then two months at hand."

Dass outlines a carrot and stick policy to get the situation back on track. "Among the parameters of performance in your area, achievement of revenue collection target will obviously be given the highest weightage while writing your APAR and (it) will also be a major factor while considering placements during AGT 2012." APAR is the annual performance appraisal report and AGT is annual general transfer.

The aggressive stance of the tax authorities has caused dismay among some experts. "India is the highest tax jurisprudence producing country in the world. Every day at least two or three international tax decisions are being taken by either the courts or the tribunals," said Daksha Baxi, executive director at Khaitan & Co, a law firm that provides legal counselling to corporates.

A chief commissioner who does not want to be identified said: "Though it is a fact that one's performance is taken into account for promotions and transfers, a letter from the chairman is unprecedented." Dass declined to comment on the letter.

Tax head of Deloitte India, Lakshmi Narayanan told ET that assigning collection targets to officers is not a practice in developed countries. He said the CBDT chairman's letter could result in "high-pitched" demands.

"Officers are now compelled to make high-pitched demand on large corporates, which cannot be sustained at the appellate level. The excess demand get refunded next fiscal. What are they trying to do? Just deferring the problem, as it gets into litigation for five to six years." Under pressure from the top, tax officials often force assesses to pay tax - even if there is a dispute over it - threatening them with the prospect of a raid or its softer version, the so-called survey, many taxpayers complain.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System development CMS development Content Management Solutions CMS Solutions Content Management Services CMS Services CMS Software

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