Blackmoney window: CBDT orders rationing of taxman's leave

Image
Press Trust of India New Delhi
Last Updated : Jul 06 2016 | 6:43 PM IST
Pulling out all the stops to make the ongoing one-time black money window scheme a success, the CBDT has ordered regulation of leave of all Income Tax department officials over the next three months.
The Central Board of Direct Taxes, officials said, has issued a special order in this regard to all the field offices of IT department asking supervisory authorities to sanction leave to officials only under "pressing circumstances" and to keep it at the "minimum".
The CBDT, the policy-making body of IT department, has reasoned since declarations under the window, called Income Declaration Scheme (IDS), can be made anytime, the presence of officials was needed. Also, the officials should be available to help clarify the doubts of potential declarants and explain to them the provisions, if required.
The order is valid for "officers and officials working in the IT department".
"The latest directive to regulate leaves of IT officials, from seniormost to juniors, across the country is virtually like pulling out all stops to ensure the success of the IDS. The progress under this scheme is being monitored at the top levels of the government and even Prime Minister Narendra Modi has talked about it in his recent 'Mann ki Baat' radio session," a senior official said.
The official said the desginated Principal IT Commissioners will virtually have no leave during the three more months that the IDS would be operational.
In order to review its progress, Revenue Secretary Hasmukh Adhia will again hold a high-level meeting with all the top officials of the CBDT and IT department from across the country later this week, the official added.
The IDS is open for four months, between June 1 and September 30 and the CBDT and the IT department have introduced a number of measures to make it a success.
CBDT has so far issued three sets of clarifications or Frequently Asked Questions (FAQs) to clear doubts and answer queries about the IDS.
(Reopens DEL33)
The CBDT has also directed the taxman to step up publicity by advertising about the IDS at posh markets, clubs and showrooms. Besides, it has promised full privacy would be ensured for those making disclosures for better collections.
Under the scheme, the declarants will have to pay a total of 45 per cent in tax and penalty by November this year. Individuals and entities making disclosures will have immunity from prosecution.
IDS was announced with an aim to flush out black money from the domestic economy. It will apply to undisclosed income whether in the form of investment in assets or otherwise, pertaining to financial year 2015-16 or earlier.
Declarations under IDS can either be made online on the official e-filing website of the tax department or before various regional Principal Commissioners of I-T department.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jul 06 2016 | 6:43 PM IST

Next Story