Powers of cbdt point in english
Answers
Explanation:
The Central Board of Direct Taxes (CBDT) is a part of the Department of Revenue in the Ministry of Finance of the Government of India. The essential functions of the CBDT include: a) It provides the essential inputs, ideas and requirements for planning and policy in India, with regard to direct taxes in India. b) It helps in the administration of direct taxes throughout India through Income Tax Department. It is a Statutory Authority, which used to handle both direct and indirect taxes. Due to the heavy burden, it has now split into the Central Board of Direct Taxes and Central Board of Excise and Customs with effect from 1.1.1964. The Chairman and Members of CBDT are selected from Indian Revenue Service (IRS), a premier civil service of India, whose members constitute the top management of Income Tax Department and other various departments.