News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
« Direct Tax »
 CBDT wants shell cos ‘revived’ to collect pending taxes
 CBDT allows AMCs to directly manage offshore funds out of India
 Taxpayers Beware! Specifications in ITR Forms to make it difficult for assessees to stay indifferent
 Penalties for Late Filing of Income Tax Returns
 CBDT again defers GST Reporting in Tax Audit Report
 I-T officers to fast track disposal of appeal cases
 Indian residents can get credit of taxes paid outside country while filing ITR
 CBDT claims increase on tax data that suggests blip in e-filings
 Procedure, format and standards for issuance of certificate for tax deducted at source in Part B of Form No. 16 in accordance with the provisions of section 203 of the Income-tax Act, 1961 read with the Rule 31 of the Income-tax Rules, 1962 through TRACES
 Know All About Different ITR Forms and Important Due Dates
 CBDT gives I-T commissioners 3-month deadline to clear pending cases

CBDT gives I-T commissioners 3-month deadline to clear pending cases
May, 07th 2019

In a letter outlining the target set for each Commissioner of Income Tax (CIT), the CBDT said that every CIT has to file 10 prosecution cases for default in the filing of return of income.

Considering the Rs 60,000 crore shortfall in direct tax collection in the last fiscal, the Central Board of Direct Taxes (CBDT) has prepared a central action plan for its officers to execute during the first quarter of FY19-20. The department wants all Income Tax commissioners to ensure that each assessing officer disposes off at least 25 domestic cases or 20 international cases during the three-month period.

Most of the cases are post the demonetisation era. The CBDT is not leaving any stone unturned to ascertain it achieves its set target this year.

Moneycontrol has a copy of central action plan, which was sent to I-T commissioners on April 12.

All assessing officers have been asked to complete filing of the cases until June 30. The same deadline has been set for those cases that were set aside for assessment or reopened under section 147 of the I-T Act. The provision empowers assessing officer to assess or reassess tax chargeable on income if he is of the opinion that any income has escaped assessment.

The deadline for filing cases against those companies that were struck off under the companies law has also been set as June 30. In 2017, the government ‘struck off’ several defunct companies introducing an alternative to the usual method of winding up companies.
In a letter outlining the target set for each Commissioner of Income Tax (CIT), the CBDT said that every CIT has to file 10 prosecution cases for default in the filing of return of income, which has already been identified by the systems directorate or identified manually.

Meanwhile, senior lawyer Arti Sathe told Moneycontrol, “The central action plan is an interesting mix of the things expected from the I-T department. Some points in the action plan are for streamlining the administrative processes, while the pointers of starting prosecution proceedings in a time-bound manner could well unleash a ‘tax terrorism’ of sorts and increase the prosecution proceedings for minor violations.”

Further, the CBDT has set a target to auction 20 percent of properties that have been attached until March 31, 2019. The income tax department has made it clear to all concerned that recovery of outstanding tax will be enhanced. Along with that, penalties will be levied and legal cases will be initiated without delay where income tax settlement commission has already passed an order.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Privacy Policy

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