Tuesday, October 18, 2011

Cong has done precious little on black money in 60 odd years of governance

                                                                                                                                                                                   Click to enlarge
I would urge the readers to go the CBDT website by clicking here and see for themselves that CBDT is only responsible for direct taxation policy making. CBDT on its own wont be able to investigate black money stashed abroad without the approval of Union Govt.

Areas for Collective Decision By CBDT

Policy regarding discharge of statutory functions of the CBDT and of the Union Government under the various direct tax laws.

General Policy relating to:

  • Set up and structure of Income Tax Department;
  • Methods and procedures of work of the CBDT;
  • Measures for disposal of assessments, collection of taxes, prevention and detection of tax evasion and tax avoidance;
  • Recruitment, training and all other matters relating to service conditions and career prospects of all personnel of the Income-tax Department;
  • Laying down of targets and fixing of priorities for disposal of assessments and collection of taxes and other related matters;
  • Write off of tax demand exceeding Rs.25 lakhs in each case;
  • Policy regarding grant of rewards and appreciation certificates.
  • Any other matter, which the Chairman or any Member of the Board, with the approval of the Chairman, may refer for joint consideration of the Board.

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