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: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: VAT RATES :: VAT Audit :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: cpt :: due date for vat payment :: list of goods taxed at 4% :: TDS :: TAX RATES - GOODS TAXABLE @ 4%
 
 
News Headlines »
 Here’s how the new tax provisions will impact you in 2017-18
 Income-tax (3rd Amendment) Rules, 2017
 How you can save tax in the last 2 days of current FY
 6 important income tax rules for individuals which will change from April 1, 2017
 Key changes in income tax rates individuals need to look at from 1 Apr
 Provisional Enrollment under Goods and Service Tax (GST)
 Ten income tax changes that will come in to effect from April 1
 New income tax provisions you need to be aware of
 8 benefits you must know about this tax-saving mutual fund
 10 most important income-tax changes which will apply from April 1
 Delhi: 54 CAs, company secretaries on radar in I-T crackdown against black money

Special Committee to inquire into income tax loss
July, 20th 2010

The Central Board of Direct Taxes (CBDT) has constituted a three-member committee to inquire into income tax loss to Mumbai caused due to non-transmission of important information on unaccounted income to field officials concerned. The Central Information Branch (CIB) of I-T department in Mumbai had collected the information which could not be disseminated to the assessing officers for action, as they were locked up in the faulty computer system of the department.

On May 25, Media highlighted how city had lost Rs 35,000 crore in income tax in the last five years because of this problem. The CIB collects information on unaccounted income held by people through sources, which are disseminated to field officials for action.

However, CIB, Mumbais director A.C. Tejpal had alleged that 11.4 crore pieces of information collected in the last five years were not disseminated.

After Tejpal spoke to Media on the issue, he was suspended.

The CBDT, the apex body of I-T department, will now look into the allegations. It will also look into Tejpals allegation that the computer software developed by spending crores of rupees was unable to transmit information from central reservoir system to assessing officers.

The panel will find out why some information given to field officials manually in compact discs in 2003, were called back by CBDT. Sources in I-T department said though the panel has been constituted on paper, it is yet to start the work. The findings of the panel will be monitored by the finance ministry, a senior I-T official said.

CBDT Chairman S.S.N. Moorthy said, I dont know. CBDT spokesperson Shishir Jha too said he was not aware of it.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Quality Assurance Services Testing and Re-testing

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