CBDT ready to address problem of over-pitched assessments

The Central Board of Direct Taxes (CBDT) is “ready” to address the problem of “over-pitched” assessments by the officers of income tax department, its Chairperson Anita Kapur has said.

At the same time, the CBDT also expects enterprises and their consultants to contribute their might in making their tax affairs as less complex as possible, Kapur said here.

“Whilst India is seen as difficult tax jurisdiction, we as tax administrators are willing to take some blame. But enterprises should equally take the blame for making their tax affairs complex. This sometimes prompted our officers to make high pitch assessments”, Kapur said.

Kapur expressed concern over domestic companies adopting “profit secrecy” practices.

“I am more concerned about domestic BEPS (Base Erosion and Profit Secrecy)”, Kapur said. (The Hindu)