Cabinet Indian Revenue Services (IRS) No. 1986 batch officer Nitin Gupta to Central Board of Direct Taxes (CBDT) No. elected president. This information is given in the notification issued on June 25. He retired in September next year (Retire) Is going to happen. A notification issued by the Secretariat of the Cabinet Appointments Committee, Government of India and the Revenue Department said that Gupta would assume the charge of the post from the date of assuming office. He is currently in charge of the member (investigation).
Sangeeta Singh got additional charge in May
In May, Sangeeta Singh, a 1986 batch IRS officer, was given the additional charge of chairperson. Earlier on April 30, JB Mohapatra retired as the head of the CBDT. Gupta took over as a member (investigation) in September 2021. The space had previously been vacant for three years. And this was seen as an additional charge by CBDT Chairman Professors PC Modi, Sushil Chandra, Mahapatra and Singh.
The CBDT is chaired by the Chairman and may consist of up to six members. The board currently has five members. Anuja Sarangi, a 1985 batch IRS officer, is the most senior. Other members include Pragya Sahay Saxena and Ms. Anantakrishnan. Both are 1987 batch IRS officers. All these officers have got the status of Special Secretary.
Earlier, the Income Tax Department on Thursday issued guidelines on the use of the new provision of tax exemption at source in respect of profits earned in any business or occupation. The income tax department said such benefits could be in either cash or in kind or in part. The Central Board of Direct Taxes (CBDT) also said that the payer or the deductor does not need to conduct a tax check on the amount in the recipient’s hand.
Also not related is the nature of the property given as an additional benefit. Capital assets given as profit are also covered under section 194R. In addition, Section 194R will also apply to sellers who offer incentives other than discounts or rebates.
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