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: VAT RATES :: cpt :: due date for vat payment :: VAT Audit :: Central Excise rule to resale the machines to a new company :: TDS :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD
 
 
« Direct Tax »
 Can we measure demonetisation’s impact on income tax collections?
 CBDT signs 2 more advance pricing pacts
 Income tax returns: How to calculate income from house property
 CBDT proposes new accounting standards for real estate firms
 1 lakh entities face I-T action as ‘clean money’ drive gains pace
 Here are 4 things to know about how CBDT improves ease of doing business by issuing PAN and TAN within 1 day
 Online platforms make tax filing easy, help fill details automatically
 Delhi HC refuses to stay tax case against Young Indian
 CBDT issues draft ICDS on real estate
 CBDT chairman Sushil Chandra gets one-year extensiona
 Income-tax (9th Amendment) Rules, 2017? - Amendment of Income-tax Rules, 1962 - Prescribing form & manner of exercise of option by the domestic company for the purposes of section 115BA of the Income-tax Act, 1961-reg

Government Asks Top Taxmen to Ideate for Widening Tax Base
June, 15th 2015

As part of its effort to widen the existing tax base, the government has asked top officers from the Income Tax Department to individually contribute at least three innovative ideas in this regard.

A senior official said a direction in this regard was given by Union Minister of State for Finance Jayant Sinha during the recently concluded national conference of Directors General and Chief Commissioners of Income Tax in the national capital here.

"Sinha had asked the top brass of the I-T department to individually give three suggestions, ideas or proposals which will enable the government to augment revenue collection under the direct taxes category in the country."

"The idea bank has started receiving entries in the CBDT," the official said.

The Central Board of Direct Taxes (CBDT) is the apex policymaking body of the Income Tax Department.

Sources said once all the officers send in their suggestions, CBDT will compile and place them before Mr Sinha. After deliberations and discussions, they will be put up before Finance Minister Arun Jaitley for clearance and final action.

"The officers, by virtue of their numerous years in service, are one of the best resource people to get ideas on this front."

"It has been indicated by the government that the best ones (ideas) will be implemented as policy measures in quick time," they said.

According to current data, the taxpayers' base in the country is about 4 per cent of the total population. The unique move comes in the backdrop of the government recently asking the I-T department to take urgent steps to widen the tax base and add at least 25 lakh new assesses every month during the current financial year (2015-16).

"The MoS is very particular about achieving this target and it is being taken as a very important and ambitious project in the Finance Ministry as the success of this programme will ensure unleashing of a host of welfare and other schemes by the government over the next few years," they said.

After directions from the Finance Ministry, CBDT Chairperson Anita Kapur had recently written to the top brass of the department to step up their work on this front.

"Considering the priorities of the government and the need to widen the tax base, a concerted and focused effort in mission mode is required."

"We have to strive for adding at least 25 lakh new assesses per month during the current financial year," Ms Kapur had written in her communication to field officers of the department.

Concerned over the very small number of people paying tax on their income in the country, CBDT has been asked to take up this project on a "mission mode".

The conference also enlisted a host of measures including initiation of an increased number of prosecutions against tax evaders in the country to not only check the erosion of the existing tax base but also tap more and more taxpayers and curb the menace of black money as part of the overall strategy of the government.

 

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
E-catalogue online catalogue E-brochure online brochure online product catalogue online product catalogue e-catalogue Indi

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