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NOTES BY SACHIN ARORA (SACHIN EDUCATION HUB)
INCOME TAX AUTHORITIES – (COPYRIGHT- SACHIN EDUCATION HUB)
The Income Tax Act, 1961 is the primary law in India that governs the taxation of income. It empowers various authorities to administer and enforce its provisions.
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- Central Board of Direct Taxes (CBDT):
- Apex body that oversees the administration of direct taxes in India.
- Responsible for formulating policy and administrative guidelines for the Income Tax Department.
- Issues circulars, notifications, and orders to provide guidance and clarity on various issues related to direct taxes.
- Income Tax Department:
- Responsible for the administration of direct taxes in India.
- Delegated the powers to assess, collect, and enforce the provisions of the Income Tax Act, 1961.
- Process tax returns, issuing notices, conducting inquiries and investigations, and collecting tax revenues.
- Income Tax Appellate Tribunal (ITAT):
- Quasi-judicial body that hears appeals against the orders passed by the Income Tax Department.
- Power to adjudicate on matters including appeals against assessment orders, penalty orders, and rectification orders.
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- Commissioner of Income Tax (CIT):
- CIT is the head of the Income Tax Department in a particular jurisdiction.
- The CIT has the power to issue orders, give directions, and provide guidance to the officers working under him.
- Assessing Officer (AO):
| Responsible for assessing the tax liability of a taxpayer.
Power to issue notices, conduct inquiries, and assess the tax liability of the taxpayer. (SACHIN EDUCATION HUB NOTES) |
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