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: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: ACCOUNTING STANDARD :: VAT Audit :: list of goods taxed at 4% :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: empanelment :: cpt :: ACCOUNTING STANDARDS :: TDS :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd
News Headlines »
 CBDT issues second round of Certificates of Appreciation to tax payers for their contribution towards Nation building
 FinMin looks at cut in corporation tax
 Draft Rules for prescribing the method of valuation of fair market value in respect of the trust or the institution-Chapter XII-EB of the Income-tax Act, 1961- reg.
 India is moving towards a flawed GST
 ICAI to organise two-day international conference in Hyderabad
 Here's how to calculate tax payable on your capital gains
 Income Tax calculations for the financial year 2016-17
 CPE Events 17 October - 22 October 2016
 High Court raps I-T Department for wrong tax demand
  CBDT signs 5 advance pricing pacts with Indian taxpayers
 Finance ministry warns tax officials of action against GST protest

Arun Jaitley asks Income Tax Department to unearth black money at home too
July, 23rd 2014

Finance minister Arun Jaitley has promised a non-adversarial, nonintrusive and transparent tax regime, but said that those evading taxes will be dealt with firmly and asked officials to go all out to unearth black money in the country.

"Officers are duty bound to work in a non-adversarial...fair manner...they have to firmly deal with those trying to evade taxes...The government is making full efforts to bring back the black money stashed abroad but the officers of the department have to make equally serious efforts to unearth black money within the country," Jaitley told income-tax department officials on Monday.

The finance minister said he was confident the government will exceed the direct tax collection target of Rs 7.36 lakh crore.

The income-tax department has drawn up a plan to widen the tax base by going after non-filers, using annual information returns, capturing new information sources such as under-reporting of immovable property and buyback of shares through open offers and exchange of information with other countries through tax treaties.

Addressing the annual conference of chief commissioners and directors-generals, Jaitley said the tax officials' job has become difficult as they not only have to achieve collection targets but also play the role of facilitator for assessees.

Jaitley said the credibility of the department is its biggest asset and officials will have to work with the highest standard of ethics to achieve the tax collection target. Earlier, revenue secretary Shaktikanta Das said senior officers have to find innovative means to achieve their revenue targets and officers of the department have to work as facilitators and achieve targets by using fair and transparent means.

The focus and efforts of the officers of the department should be to reduce tax arrears, which are to the tune of Rs 4 lakh crore, and increase tax recovery, he said. He asked them to reduce tax cases and avoid frivolous and avoidable litigation.

RK Tiwari, chairman of the Central Board of Direct Taxes, highlighted the steps initiated to augment revenue collection, including keeping a close tab on advance tax payments by top taxpayers, TDS payments by top deductors and monitoring payments by entities covered under minimum alternate tax provisions. Tiwari said the board is making all processes IT-enabled to improve efficiency and bring transparency.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - We Bring IT. Offshore software outsourcing company. We use Global Delivery Model (GDM) and believe in Follow The Sun principle

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