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: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: list of goods taxed at 4% :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: VAT RATES :: empanelment :: VAT Audit :: due date for vat payment :: ACCOUNTING STANDARDS :: articles on VAT and GST in India
 
 
Direct Tax »
 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
 Cash trove tax drive dilemma
  CBDT halves Income Tax refunds issue timeline to 15 days for this fiscal
 CBDT signs four unilateral advance pricing agreements
 Central Board of Direct Taxes allowed Rs 4,500 crore of irregular benefits to infrastructure companies: CAG

CBDT revised Selection Criteria for Income Tax Officials
June, 11th 2013

The Ministry of Finance in month of June 2013 has introduced new rules for sending Income Tax officers to newly created overseas units similar to in the US and the UK.

As per the new selection criteria it is now mandatory for aspirants to get testimonials from bosses and write a note on how they can help maximise revenue from this front.

Earlier in Year 2011 ministry had announced creation of eight new Income Tax Overseas Units (ITOUs) as part of its multi-pronged strategy to tackle the nuisance of blackmoney. While two ITOUs are already there in Mauritius and Singapore, the eight new are all set to be fully operational at Indian missions in Cyprus, France, Germany, Netherlands, Japan, UAE, UK and USA. The new rules designed will be applicable for postings of officials to all the ten ITOUs.

An Overview of the New Rules designed by CBDT

• It had designated I-T officers to go as First Secretaries in these countries to maintain effective coordination and liaison between Indian tax authorities and the tax authorities of countries concerned.

• As per the revised selection criteria, the aspiring candidate, with a mandatory 15 years of service in the Indian Revenue Service (IRS), will be evaluated for ten marks each in getting recommendations from two serving officers who were immediate supervisory authority anytime during their service.

• The aspiring candidate should also have to write a 1000 word statement of purpose describing how his knowledge, experience and commitment will help in bolstering tax administration in the international context.

• The applicant, who will have to go through a final interview by a panel headed by Central Board of Direct Taxes (CBDT) chairperson, will be judged for a maximum of 40 marks for providing a brief bio-data of five of their outstanding work in the field of revenue administration.

• The aspiring I-T officials will also be rated on their investigation skills and expertise to handle international financial transactions, overall awareness in respect of financial scenario and methods used for tax avoidance.

• The other areas on which these senior officers will be rated include awareness of international financial protocols, issues pertaining to transfer pricing, working knowledge of tax treaties like the Double Taxation Avoidance Agreement (DTAA) and Tax Information Exchange Agreements (TIEAs) and other tax dispute resolution mechanisms like Advance Pricing Agreement (APAs) and Mutual Agreement Procedure (MAP).

• The posting of an officer in these ITOUs is for a period of three years.


About Central Board of Direct Taxes (CBDT)
The CBDT is a part of Department of Revenue in the Ministry of Finance which basically provides essential inputs for policy and planning of direct taxes in India,at the same time it is also responsible for administration of direct tax laws through the Income Tax Department.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Enterprise Resource Planning Solutions ERP Solutions Enterprise Resource Planning Software Solutions ERP Software Solutions Supply Chain Management Solutions SCM Solutions Supply Chain Management Software Solutions SCM Software Solutions Enterprise Resource Planning Solutions India ERP Solutions India Enterprise Resource Planning Software Solutions India ERP Software Solutions India Supply Chain Management Solutions India SCM Solutions India Supply Chain Management Software Solutions India SCM Software Solutions India

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