News Details- (Get Professional Updates on Whatsapp, Msg on
8285393786) More
News
CBDT clamps down on coercive assessment, tax recovery measures by officers
The Central Board of Direct Taxes (CBDT) has restricted the coercive and intrusive powers of assessing and tax recovery officers with immediate effect.
In its circular, the board asked the officers to take coercive and intrusive measures only after exhaustion of other means of recovery.
It said recovery surveys be resorted to only in cases where tax assessees are not responding to notices or notices are not being served.
The board reminded the officers that the survey can only be undertaken by those in the investigation or TDS wing of the income tax department.
It said the recovery be approved by higher officers, depending on the nature of the taxes.
It also directed officers to take prior approval of senior officers such as principal commissioners, commissioners for attachment of movable or immovable property.
In its circular, the board asked the officers to take coercive and intrusive measures only after exhaustion of other means of recovery.
It said recovery surveys be resorted to only in cases where tax assessees are not responding to notices or notices are not being served.
The board reminded the officers that the survey can only be undertaken by those in the investigation or TDS wing of the income tax department.
It said the recovery be approved by higher officers, depending on the nature of the taxes.
It also directed officers to take prior approval of senior officers such as principal commissioners, commissioners for attachment of movable or immovable property.
Category : CBDT | Comments : 0 | Hits : 556
Get Free Daily Updates Via e-Mail on Income Tax, Service tax, Excise and Corporate law
Search News
News By Categories More Categories
- Income Tax Dept serves notices to salaried individuals for documentary proof to claim exemptions
- Bank Branch Audit 2021 - Update on allotment of Branches
- Bank Branch Audit 2020 Updates
- Bank Branch Audit 2021 Updates
- Bank Branch Audit 2020 - Update on Allotment of Branches
- Police Atrocities towards CA in Faridabad - Its Time to be Unite
- Bank Branch Statutory Audit Updates 2019
- Bank Branch Statutory Audit Updates
- Bank Branch Audit 2022 Updates
- Bank Branch Statutory Audit Updates
- NFRA Imposes Monetary penalty of Rs 1 Crore on M/s Dhiraj & Dheeraj
- ICAI notifies earlier announced CA exam dates despite pending legal challenge before SC
- NFRA debars Auditors, imposes Rs 50 lakh penalties for lapses in Brightcom, CMIL cases
- GST Important Update - Enhancement in the GST Portal
- NFRA Slaps Rs 5 lakh Penalty on Audit Firm for lapses in Vikas WSP Audit Case
- CBDT extends due date for filing Form 10A/10AB upto 30th June, 2024
- RBI comes out with FEMA regulations for direct listing on international exchange
- RBI directs payment firms to track high-value, fishy transactions during elections
- NCLT orders insolvency proceedings against Subhash Chandra
- Income Tax dept starts drive to dispose of appeals, 0.54 million at last count
- Payment of MCA fees –electronic mode-regarding
- Budget '11-12' Parliament Completes Approval Exercise
- Satyam restrained from operating its accounts
- ICICI a foreign firm, subject to FDI norms: Govt
- Maha expects Rs 15 crore entertainment tax revenue from IPL
- CAG blames PMO for not acting against Kalmadi
- No service tax on visa facilitators: CBEC
- Provision of 15-minutes reading and planning time allowance to the candidates of Chartered Accountants Examinations
- Companies Bill to be taken up in Monsoon Session
- File Service Tax Return in time as Maximum Penalty increased 10 times to Rs. 20000

Comments