> endobj xref 44 19 0000000016 00000 n Basics and Definitions – Income Tax Act , 1961 – Background, Concept and Mechanism of Income Tax – Definitions, Concept of Income, Previous Year, Assessment Year, Distinction between Capital and Revenue Receipts and Expenditure, Residential Status – Basis of Charge and Scope of Total Income 2. Directorate of Income Tax … 0000004812 00000 n 103. Important Notes – Government has proposed to increase the power of Income Tax Authorities. Section 120 and 124 of Income Tax Act 1961 deals with Jurisdiction of income-tax authorities Section 120. 0000060406 00000 n 0000002008 00000 n This document is highly rated by B Com students … The Central Board of Direct Taxes is the supreme body in the direct tax … Jan 12, 2021 - Powers and duties - Income Tax Authorities, Income Tax Laws B Com Notes | EduRev is made by best teachers of B Com. Discuss the jurisdiction, powers and function of income tax commissioner . 2 0 obj It exercises control in respect of matters relating to all the Direct and Indirect Union Taxes … (1) Income-tax authorities shall exercise all or any of the powers and perform all or any of the functions conferred on, or, as the case may be, assigned to such authorities … 0000000820 00000 n <>>> Notes & Handouts / By … 3 0 obj <> CHAPTER III. Income tax authorities shall exercise all or any of powers and functions conferred upon it by CBDT. 0000004890 00000 n Delegation of Ministerial powers, duties, and functions The various Acts administered by the Canada Revenue Agency contain provisions vesting powers in the Minister of National Revenue. 4 Technical Notes and Manuals 10/10 | 2010 • tax operations policy—appeals, rulings and operational policy for all tax types, legislative review, international activities and double taxation agreements; and other residual issues. trailer << /Size 63 /Info 42 0 R /Root 45 0 R /Prev 148673 /ID[<3ba6f0ccfab8e33597a5074ff7877d52><4f3615d23d3d3d03b010a2b8202be842>] >> startxref 0 %%EOF 45 0 obj << /Type /Catalog /Pages 40 0 R /Metadata 43 0 R /PageLabels 38 0 R >> endobj 61 0 obj << /S 270 /L 339 /Filter /FlateDecode /Length 62 0 R >> stream Also if CBDT directs, all such high-rank authorities can exercise powers and perform functions of such lower ranked authorities. Jan 17, 2021 - Income Tax Authorities, Powers and Duties - Income Tax Laws B Com Notes | EduRev is made by best teachers of B Com. <>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 595.32 841.92] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> %PDF-1.3 %���� You just clipped your first slide! For understanding the overall concept of Income Tax Law in India, one should have to know all sections of income tax i.e. 0000002804 00000 n The Government of India has constituted a number of authorities to execute the Income Tax Act and to control the Income Tax Department efficiently. General . Direct tax in the form an income tax were introduced by Sir James Wilson (Britisher) in India in 1860 to overcome the difficulties created by the Indian Rebellion of 1857. 0000003268 00000 n 0000001760 00000 n 5 ment of the Authority Act No. The Director General of Income Tax (HRD), is the head of Directorate of Income Tax (HRD). Description: Department of Revenue functions under the overall direction and control of the Secretary (Revenue). Commissioner Of Income Tax :-He is an important income tax authority which has executive and judicial powers. Income Tax Authorities their Powers & Functions under Income-Tax Act, 1961. %PDF-1.5 WEALTH-TAX AUTHORITIES [Wealth-tax authorities and their jurisdiction.8. This section gives the executor authority … It has to preform several statutory functions … to be called the Income-Tax Settlement Commission (hereafter referred as the “Settlement Commission”) for the settlement of cases. For the removal of doubts, it is hereby declared that any income-tax authority, being an authority higher in rank, may, if so directed by the Board, exercise the powers and perform the functions of the income-tax authority … Ministerial directions. H�b```"vAd`B�`� (9) Where, in respect of any proceedings under this Ordinance, an income tax authority … Functions of Board. Establishment of Board. 0000001213 00000 n Power to distrain for non-payment of tax. Partnership. The income-tax authorities specified in section 116 of the Income-tax Act shall be the wealth-tax authorities for the purposes of this Act and every such authority shall exercise the powers and perform the functions of a wealth-tax authority … Now customize the name of a clipboard to store your clips. 0000001367 00000 n Definition of tax collector. endobj The central board of revenue is the appointing authority for commissioner of income tax… The Central Board of Direct Taxes is the supreme body in the direct tax set-up. 8. The second objective, income redistribution, is meant to lessen inequalities in the distribution of income and wealth. Each of these functions … Exemption from income tax, stamp duty, transfer tax and customs duty. Relevant tax authority may assess and charge tax on the turnover of a business, etc. of government that has been delegated the right to exercise part of the government's sovereign power. 0000001192 00000 n 0000003752 00000 n %���� PERSONAL INCOME TAX ACT ARRANGEMENT OF SECTIONS PART I Imposition of tax and income chargeable SECTION 1. perform all or any of the powers and functions conferred on, or assigned to, an Assessing Officer under this Act; 7. CBDT can in accordance with section 120(1) issue directions to such income tax authorities. 113 [ 8 Wealth-tax authorities and their jurisdiction . 0000000727 00000 n 0000086502 00000 n Income tax is generally due on the net income realised by the taxpayer over an income … ESTABLISHMENT, POWERS AND FUNCTIONS OF THE AUTHORITY Establish- 4.-(1) There is established an Authority to be known as the Tanzania . 13 of 1996 s. 50 ... Cap. It is functioning under the jurisdiction of the Ministry of The CBDT, besides being the highest executive authority, exercises control and supervision over all officers of the Income-tax Department and is authorised to exercise certain powers conferred upon it by the Income-tax … 8. stream � ��Q���q�%�q�R��K�����O�����=�� ތLH��Pi�x aں�[�߀��c�uO�҆��/�������6�:Ѕ�Yiɻ��#@������D���j�h"�Ȋ��@?�o�� �zȸ[#A�.����T��T(}zl��;�}s��Gu��+����kS {�3�ܺw:�˅�L�@. The objective of stabilization—implemented through tax policy, government expenditure … A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer (an individual or legal entity) by a governmental organization in order to fund government spending and various public … For example, the Income Tax Assessment Act 1997 contains the assessment provisions whilst the Income Tax Rates Act 1986 contains the rates of taxation imposed by the Government … 1 0 obj <> 1. Directorate of Income Tax (Inspection & Examination) ii. ... of such of its functions, other than the power … 6. Any income-tax authority, being an authority higher in rank, may exercise the powers and perform the functions of the income-tax authority lower in rank, if so directed … Clipping is a handy way to collect important slides you want to go back to later. The organisational history of the Income-tax Department, however, starts in the year 1922, when the Income-tax Act, 1922 gave, for the first time, a specific nomenclature to various Income-tax authorities. 104. 0000001526 00000 n notwithstanding the effect the will has on the birth of a child after its execution or of an election by a surviving spouse. There are three generally acknowledged sovereign powers: the power to tax, the power of eminent domain, and the police power. PART A: INCOME TAX AND WEALTH TAX (70 MARKS) 1. 7. Income Tax Notes – Income Tax Authorities (Powers and Functions of CCIR ” Chief Commissioner of Inland Revenue” Long Question with Answer) for B.com, ADP, BS, BBA. Functions of Authority. powers, the power nonetheless exists upon the approval of the Surrogate 6. the executor may exercise all powers granted by Section 11-l.1 of E.P.T.L. 4 0 obj which imposes the tax and fixes the rate of tax. 0000003791 00000 n an annual tax period, consumption taxes operate as a levy on expenditure relating to the consumption of goods and services, imposed at the time of the transaction. 332 (2) The provisions of sections 108 and 140 of the Income Tax … Average rate of Income-tax [Section 2(10)]:- It means the rate arrived at by dividing the amount of income-tax calculated on the total income, by such total income… Power to enter and require information. )��Q`���uݐ ]΋��n��. Download Notes (PDF) Income Tax Notes – Income Tax Authorities (Powers and Functions of CIR “Commissioner of Inland Revenue” Long Question with Answer) for B.com, ADP, BS, BBA Notes & … x��YY��6~_`��)�fDR���E���"=�.Ї$��^���KN�����a��RV� Y�g���\���x����on�Ջw��}Aֻ��/���߾)^�^_�������+VT���ӊׅ��jU�>\_U�=�����r�+5�+k�X���傓�SQ~*n����z�|�� I��+�@^��c��ۖI���+%i��H��Pf�e��oF���o���ˣ r(pCyT~S2A��/ ���L~r_,yuW*�}��#�*JA�_�պu+�l�� ��mT�嫇A�5m�x� u疾��q؃��U���q�ж�4���`~>v[�. endobj III. Tax Authorities Section 211. Most of the Acts allow for the delegation of the Minister's powers … As the “ Settlement Commission ( hereafter referred as the “ Settlement Commission ( hereafter referred as “. Which has executive and judicial powers ” ) for the Settlement of cases child after its execution or of election... Has constituted a number of authorities to execute the Income Tax ( Administration ) Supervision and control over the in. 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The income-tax authorities specified in section 116 of the Income-tax Act shall be the wealth-tax authorities for the purposes of this Act and every such authority shall exercise the powers and perform the functions of a wealth-tax authority … Income Tax Authorities and their Powers The Government of India has constituted a number of authorities to execute the Income Tax Act and to control the Income Tax Department efficiently. endobj Functions of Director General of Income Tax (Administration) Supervision and control over the work in the following Directorates:- i. PART . I . the title or contents/ topics covered under sections 1 to 298 of Income Tax Act, 1961 as amended by the latest Finance Act.. Income Tax Authorities: Income tax authority [Explanation (a) to section 133A]: "Income-tax authority" means a Commissioner, a Joint Commissioner, a Director, a Joint Director, an Assistant Director or a Deputy Director or an Assessing Officer, or a Tax … Power or function exercised 502 4[(8A) The power to confer jurisdiction under this section shall include the power to transfer jurisdiction from one income tax authority to another.] Authorities have the power to call for information with virtually any entity or persons in India under section 133. There are a variety of forms of income and consumption taxes. Income Tax Authorities are also granted power to survey and order persons to submit certain information. any of those authorities [Section 120(1)]. 0000002236 00000 n 44 0 obj << /Linearized 1 /O 46 /H [ 820 393 ] /L 149681 /E 89330 /N 11 /T 148683 >> endobj xref 44 19 0000000016 00000 n Basics and Definitions – Income Tax Act , 1961 – Background, Concept and Mechanism of Income Tax – Definitions, Concept of Income, Previous Year, Assessment Year, Distinction between Capital and Revenue Receipts and Expenditure, Residential Status – Basis of Charge and Scope of Total Income 2. Directorate of Income Tax … 0000004812 00000 n 103. Important Notes – Government has proposed to increase the power of Income Tax Authorities. Section 120 and 124 of Income Tax Act 1961 deals with Jurisdiction of income-tax authorities Section 120. 0000060406 00000 n 0000002008 00000 n This document is highly rated by B Com students … The Central Board of Direct Taxes is the supreme body in the direct tax … Jan 12, 2021 - Powers and duties - Income Tax Authorities, Income Tax Laws B Com Notes | EduRev is made by best teachers of B Com. Discuss the jurisdiction, powers and function of income tax commissioner . 2 0 obj It exercises control in respect of matters relating to all the Direct and Indirect Union Taxes … (1) Income-tax authorities shall exercise all or any of the powers and perform all or any of the functions conferred on, or, as the case may be, assigned to such authorities … 0000000820 00000 n <>>> Notes & Handouts / By … 3 0 obj <> CHAPTER III. Income tax authorities shall exercise all or any of powers and functions conferred upon it by CBDT. 0000004890 00000 n Delegation of Ministerial powers, duties, and functions The various Acts administered by the Canada Revenue Agency contain provisions vesting powers in the Minister of National Revenue. 4 Technical Notes and Manuals 10/10 | 2010 • tax operations policy—appeals, rulings and operational policy for all tax types, legislative review, international activities and double taxation agreements; and other residual issues. trailer << /Size 63 /Info 42 0 R /Root 45 0 R /Prev 148673 /ID[<3ba6f0ccfab8e33597a5074ff7877d52><4f3615d23d3d3d03b010a2b8202be842>] >> startxref 0 %%EOF 45 0 obj << /Type /Catalog /Pages 40 0 R /Metadata 43 0 R /PageLabels 38 0 R >> endobj 61 0 obj << /S 270 /L 339 /Filter /FlateDecode /Length 62 0 R >> stream Also if CBDT directs, all such high-rank authorities can exercise powers and perform functions of such lower ranked authorities. Jan 17, 2021 - Income Tax Authorities, Powers and Duties - Income Tax Laws B Com Notes | EduRev is made by best teachers of B Com. <>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 595.32 841.92] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> %PDF-1.3 %���� You just clipped your first slide! For understanding the overall concept of Income Tax Law in India, one should have to know all sections of income tax i.e. 0000002804 00000 n The Government of India has constituted a number of authorities to execute the Income Tax Act and to control the Income Tax Department efficiently. General . Direct tax in the form an income tax were introduced by Sir James Wilson (Britisher) in India in 1860 to overcome the difficulties created by the Indian Rebellion of 1857. 0000003268 00000 n 0000001760 00000 n 5 ment of the Authority Act No. The Director General of Income Tax (HRD), is the head of Directorate of Income Tax (HRD). Description: Department of Revenue functions under the overall direction and control of the Secretary (Revenue). Commissioner Of Income Tax :-He is an important income tax authority which has executive and judicial powers. Income Tax Authorities their Powers & Functions under Income-Tax Act, 1961. %PDF-1.5 WEALTH-TAX AUTHORITIES [Wealth-tax authorities and their jurisdiction.8. This section gives the executor authority … It has to preform several statutory functions … to be called the Income-Tax Settlement Commission (hereafter referred as the “Settlement Commission”) for the settlement of cases. For the removal of doubts, it is hereby declared that any income-tax authority, being an authority higher in rank, may, if so directed by the Board, exercise the powers and perform the functions of the income-tax authority … Ministerial directions. H�b```"vAd`B�`� (9) Where, in respect of any proceedings under this Ordinance, an income tax authority … Functions of Board. Establishment of Board. 0000001213 00000 n Power to distrain for non-payment of tax. Partnership. The income-tax authorities specified in section 116 of the Income-tax Act shall be the wealth-tax authorities for the purposes of this Act and every such authority shall exercise the powers and perform the functions of a wealth-tax authority … Now customize the name of a clipboard to store your clips. 0000001367 00000 n Definition of tax collector. endobj The central board of revenue is the appointing authority for commissioner of income tax… The Central Board of Direct Taxes is the supreme body in the direct tax set-up. 8. The second objective, income redistribution, is meant to lessen inequalities in the distribution of income and wealth. Each of these functions … Exemption from income tax, stamp duty, transfer tax and customs duty. Relevant tax authority may assess and charge tax on the turnover of a business, etc. of government that has been delegated the right to exercise part of the government's sovereign power. 0000001192 00000 n 0000003752 00000 n %���� PERSONAL INCOME TAX ACT ARRANGEMENT OF SECTIONS PART I Imposition of tax and income chargeable SECTION 1. perform all or any of the powers and functions conferred on, or assigned to, an Assessing Officer under this Act; 7. CBDT can in accordance with section 120(1) issue directions to such income tax authorities. 113 [ 8 Wealth-tax authorities and their jurisdiction . 0000000727 00000 n 0000086502 00000 n Income tax is generally due on the net income realised by the taxpayer over an income … ESTABLISHMENT, POWERS AND FUNCTIONS OF THE AUTHORITY Establish- 4.-(1) There is established an Authority to be known as the Tanzania . 13 of 1996 s. 50 ... Cap. It is functioning under the jurisdiction of the Ministry of The CBDT, besides being the highest executive authority, exercises control and supervision over all officers of the Income-tax Department and is authorised to exercise certain powers conferred upon it by the Income-tax … 8. stream � ��Q���q�%�q�R��K�����O�����=�� ތLH��Pi�x aں�[�߀��c�uO�҆��/�������6�:Ѕ�Yiɻ��#@������D���j�h"�Ȋ��@?�o�� �zȸ[#A�.����T��T(}zl��;�}s��Gu��+����kS {�3�ܺw:�˅�L�@. The objective of stabilization—implemented through tax policy, government expenditure … A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer (an individual or legal entity) by a governmental organization in order to fund government spending and various public … For example, the Income Tax Assessment Act 1997 contains the assessment provisions whilst the Income Tax Rates Act 1986 contains the rates of taxation imposed by the Government … 1 0 obj <> 1. Directorate of Income Tax (Inspection & Examination) ii. ... of such of its functions, other than the power … 6. Any income-tax authority, being an authority higher in rank, may exercise the powers and perform the functions of the income-tax authority lower in rank, if so directed … Clipping is a handy way to collect important slides you want to go back to later. The organisational history of the Income-tax Department, however, starts in the year 1922, when the Income-tax Act, 1922 gave, for the first time, a specific nomenclature to various Income-tax authorities. 104. 0000001526 00000 n notwithstanding the effect the will has on the birth of a child after its execution or of an election by a surviving spouse. There are three generally acknowledged sovereign powers: the power to tax, the power of eminent domain, and the police power. PART A: INCOME TAX AND WEALTH TAX (70 MARKS) 1. 7. Income Tax Notes – Income Tax Authorities (Powers and Functions of CCIR ” Chief Commissioner of Inland Revenue” Long Question with Answer) for B.com, ADP, BS, BBA. Functions of Authority. powers, the power nonetheless exists upon the approval of the Surrogate 6. the executor may exercise all powers granted by Section 11-l.1 of E.P.T.L. 4 0 obj which imposes the tax and fixes the rate of tax. 0000003791 00000 n an annual tax period, consumption taxes operate as a levy on expenditure relating to the consumption of goods and services, imposed at the time of the transaction. 332 (2) The provisions of sections 108 and 140 of the Income Tax … Average rate of Income-tax [Section 2(10)]:- It means the rate arrived at by dividing the amount of income-tax calculated on the total income, by such total income… Power to enter and require information. )��Q`���uݐ ]΋��n��. Download Notes (PDF) Income Tax Notes – Income Tax Authorities (Powers and Functions of CIR “Commissioner of Inland Revenue” Long Question with Answer) for B.com, ADP, BS, BBA Notes & … x��YY��6~_`��)�fDR���E���"=�.Ї$��^���KN�����a��RV� Y�g���\���x����on�Ջw��}Aֻ��/���߾)^�^_�������+VT���ӊׅ��jU�>\_U�=�����r�+5�+k�X���傓�SQ~*n����z�|�� I��+�@^��c��ۖI���+%i��H��Pf�e��oF���o���ˣ r(pCyT~S2A��/ ���L~r_,yuW*�}��#�*JA�_�պu+�l�� ��mT�嫇A�5m�x� u疾��q؃��U���q�ж�4���`~>v[�. endobj III. Tax Authorities Section 211. Most of the Acts allow for the delegation of the Minister's powers … As the “ Settlement Commission ( hereafter referred as the “ Settlement Commission ( hereafter referred as “. Which has executive and judicial powers ” ) for the Settlement of cases child after its execution or of election... Has constituted a number of authorities to execute the Income Tax ( Administration ) Supervision and control over the in. 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