The CBDT is the authority vested with the responsibility of the administration of laws related to direct taxes through the Department of Income Tax. Join us to learn more.
For more information, visit us at:-
https://academy.tax4wealth.com/blog/role-of-cbdt-in-indian-taxation-system
The CBDT is the authority vested with the responsibility of the administration of laws related to direct taxes through the Department of Income Tax. Join us to learn more.
For more information, visit us at:-
https://academy.tax4wealth.com/blog/role-of-cbdt-in-indian-taxation-system
Important CA final chapter by CA Final classes in Mumbai.miamiamumbai
We have list of established CA Final classes in Mumbai who have a vision to provide excellent learning opportunity for students. Mia Mia expertise in listing the IPCC Classes in Mumbai. Students can check the list for CA Coaching in Mumbai and get the best information for their career.
Updates on Circulars and Notifications - V. K. SubramaniD Murali ☆
Updates on Circulars and Notifications - V. K. Subramani - Article published in Business Advisor, dated June 25, 2016 - http://www.magzter.com/IN/Shrinikethan/Business-Advisor/Business/
Tweeted on www.twitter.com/BusinessAdvDM
The subject matter experts of VsV Bill 2020 gives presentation about the thorough analysis of the bill, the amendments made and how its going to affect taxpayers (directly or indirectly) in the long run. See More :https://www2.deloitte.com/in/en/services/tax.html
Continuous Problem – City of Monroe 1Continuous Probl.docxdonnajames55
Continuous Problem – City of Monroe
1
Continuous Problem – City of Monroe
TO ACCOMPANY
ESSENTIALS OF ACCOUNTING FOR GOVERNMENTAL
AND NOT-FOR-PROFIT ORGANIZATIONS:
TWELFTH EDITION
Chapters 2 through 8 describe accounting and financial reporting by state and local
governments. A continuous problem is presented to provide an overview of the reporting
process, including preparation of fund basis and government-wide statements. The problem
assumes the government is using fund accounting for its internal record-keeping and then at
year-end makes necessary adjustments to prepare the government-wide statements. The
problem that follows is presented in the same order as the textbook (beginning with Chapters
3, and 4).
Each chapter requires the preparation of journal entries to record the events and transactions
of governmental, proprietary, or fiduciary funds. For the General Fund, use control accounts
for the budgetary accounts, revenues, expenditures and encumbrances. For all other funds,
use separate accounts for each type of revenue and expenditure/expense. At appropriate
stages, preparation of the fund and government-wide statements are required. The following
funds are included in this series of problems:
Governmental Funds
¾ General
¾ Special revenue—Street and Highway Fund
¾ Capital projects—City Hall Annex Construction Fund
¾ Debt service—City Jail Annex Debt Service Fund
¾ Debt service—City Hall Debt Service Fund
Proprietary Funds
¾ Internal service—Stores and Services Fund
¾ Enterprise—Water and Sewer Fund
Fiduciary Funds
¾ Private-purpose—Student Scholarship Fund
¾ Pension trust—Fire and Police Retirement Fund
Chapters 3 & 4
The Balance Sheets of the General Fund and the Street and Highway Fund of the City of
Monroe as of December 31, 2014, follow. These (beginning) balances have been entered in
the proper general ledger accounts, as of 1/1/2015.
Continuous Problem – City of Monroe
2
CITY OF MONROE
General Fund Balance Sheet
As of December 31, 2014
Assets
Cash $502,000
Taxes receivable $210,000
Less: Estimated uncollectible taxes (42,000)
net 168,000
Interest and penalties receivable on taxes 5,200
Less: Estimated uncollectible interest and penalties (950)
net 4,250
Due from state government 210,000
Total assets $884,250
Liabilities, Deferred Inflows, and Fund Equity
Liabilities:
Accounts payable $ 99,000
Due to other funds 27,000
Total liabilities 126,000
Deferred inflows – Property taxes 21,000
Fund equity:
Fund balance—assigned
(for outstanding encumbrances) $17,000
Fund balance—unassigned 720,250
Total fund balance 737,250
Total liabilities, deferred inflows and fund equity $884,250
CITY OF MONROE
Street and Highway Fund Balance Sheet
As of December 31, 2014
Assets
Cash $21,000
Investments 59,000
Due from state government 109,000
Total assets $189,000
Liabilities and Fund.
The CBDT is the authority vested with the responsibility of the administration of laws related to direct taxes through the Department of Income Tax. Join us to learn more.
For more information, visit us at:-
https://academy.tax4wealth.com/blog/role-of-cbdt-in-indian-taxation-system
Important CA final chapter by CA Final classes in Mumbai.miamiamumbai
We have list of established CA Final classes in Mumbai who have a vision to provide excellent learning opportunity for students. Mia Mia expertise in listing the IPCC Classes in Mumbai. Students can check the list for CA Coaching in Mumbai and get the best information for their career.
Updates on Circulars and Notifications - V. K. SubramaniD Murali ☆
Updates on Circulars and Notifications - V. K. Subramani - Article published in Business Advisor, dated June 25, 2016 - http://www.magzter.com/IN/Shrinikethan/Business-Advisor/Business/
Tweeted on www.twitter.com/BusinessAdvDM
The subject matter experts of VsV Bill 2020 gives presentation about the thorough analysis of the bill, the amendments made and how its going to affect taxpayers (directly or indirectly) in the long run. See More :https://www2.deloitte.com/in/en/services/tax.html
Continuous Problem – City of Monroe 1Continuous Probl.docxdonnajames55
Continuous Problem – City of Monroe
1
Continuous Problem – City of Monroe
TO ACCOMPANY
ESSENTIALS OF ACCOUNTING FOR GOVERNMENTAL
AND NOT-FOR-PROFIT ORGANIZATIONS:
TWELFTH EDITION
Chapters 2 through 8 describe accounting and financial reporting by state and local
governments. A continuous problem is presented to provide an overview of the reporting
process, including preparation of fund basis and government-wide statements. The problem
assumes the government is using fund accounting for its internal record-keeping and then at
year-end makes necessary adjustments to prepare the government-wide statements. The
problem that follows is presented in the same order as the textbook (beginning with Chapters
3, and 4).
Each chapter requires the preparation of journal entries to record the events and transactions
of governmental, proprietary, or fiduciary funds. For the General Fund, use control accounts
for the budgetary accounts, revenues, expenditures and encumbrances. For all other funds,
use separate accounts for each type of revenue and expenditure/expense. At appropriate
stages, preparation of the fund and government-wide statements are required. The following
funds are included in this series of problems:
Governmental Funds
¾ General
¾ Special revenue—Street and Highway Fund
¾ Capital projects—City Hall Annex Construction Fund
¾ Debt service—City Jail Annex Debt Service Fund
¾ Debt service—City Hall Debt Service Fund
Proprietary Funds
¾ Internal service—Stores and Services Fund
¾ Enterprise—Water and Sewer Fund
Fiduciary Funds
¾ Private-purpose—Student Scholarship Fund
¾ Pension trust—Fire and Police Retirement Fund
Chapters 3 & 4
The Balance Sheets of the General Fund and the Street and Highway Fund of the City of
Monroe as of December 31, 2014, follow. These (beginning) balances have been entered in
the proper general ledger accounts, as of 1/1/2015.
Continuous Problem – City of Monroe
2
CITY OF MONROE
General Fund Balance Sheet
As of December 31, 2014
Assets
Cash $502,000
Taxes receivable $210,000
Less: Estimated uncollectible taxes (42,000)
net 168,000
Interest and penalties receivable on taxes 5,200
Less: Estimated uncollectible interest and penalties (950)
net 4,250
Due from state government 210,000
Total assets $884,250
Liabilities, Deferred Inflows, and Fund Equity
Liabilities:
Accounts payable $ 99,000
Due to other funds 27,000
Total liabilities 126,000
Deferred inflows – Property taxes 21,000
Fund equity:
Fund balance—assigned
(for outstanding encumbrances) $17,000
Fund balance—unassigned 720,250
Total fund balance 737,250
Total liabilities, deferred inflows and fund equity $884,250
CITY OF MONROE
Street and Highway Fund Balance Sheet
As of December 31, 2014
Assets
Cash $21,000
Investments 59,000
Due from state government 109,000
Total assets $189,000
Liabilities and Fund.
Section 206AA – Rule 37BC
Central Board of Direct Taxes vide Notification No. 53/2016 dated 24.06.2016 has amended the Income Tax Rules, 1962 by inserting a new Rule 37BC through the IT (17th Amendment) Rules, 2016.
According to the in-depth analysis, the VsV Bill results in a win-win situation for both the government and the Taxpayer. While the VsV Bill will help in reducing the overall litigations as of date, it is equally important for the government to also chalk out a plan to reduce future litigations. See More :https://www2.deloitte.com/in/en/services/tax.html
As the prescribed due date for furnishing of TDS statement for the Quarter 1 of the Financial Year 2020-21 is around the corner, that is, July 31, 2020, there is a chaos to know about the applicable due date. Whether it will be the original due date of 31-07-2020 as per Rule 31A or 31-03-2021, the due date extended for all compliances (falling between 20-03-2020 to 31-12-2020) by the Notification No. 35/2020, dated 24-06-2020. We have tried to solve this controversy in this write-up
Public Finance is one of the most crucial parts of public administration. Proper financial planning and execution is imperative for the development of the society. In the Indian context, it is Union Finance Ministry that deals with budget formation as well as financial service provisions. Hence, it is necessary to study the working of this ministry along with the operations of offices like CAG and Finance Commission to understand the pillars of Indian administration.
Continuous Problem – City of Monroe 1Continuous Probl.docxmaxinesmith73660
Continuous Problem – City of Monroe
1
Continuous Problem – City of Monroe
TO ACCOMPANY
ESSENTIALS OF ACCOUNTING FOR GOVERNMENTAL
AND NOT-FOR-PROFIT ORGANIZATIONS:
TWELFTH EDITION
Chapters 2 through 8 describe accounting and financial reporting by state and local
governments. A continuous problem is presented to provide an overview of the reporting
process, including preparation of fund basis and government-wide statements. The problem
assumes the government is using fund accounting for its internal record-keeping and then at
year-end makes necessary adjustments to prepare the government-wide statements. The
problem that follows is presented in the same order as the textbook (beginning with Chapters
3, and 4).
Each chapter requires the preparation of journal entries to record the events and transactions
of governmental, proprietary, or fiduciary funds. For the General Fund, use control accounts
for the budgetary accounts, revenues, expenditures and encumbrances. For all other funds,
use separate accounts for each type of revenue and expenditure/expense. At appropriate
stages, preparation of the fund and government-wide statements are required. The following
funds are included in this series of problems:
Governmental Funds
General
Special revenue—Street and Highway Fund
Capital projects—City Hall Annex Construction Fund
Debt service—City Jail Annex Debt Service Fund
Debt service—City Hall Debt Service Fund
Proprietary Funds
Internal service—Stores and Services Fund
Enterprise—Water and Sewer Fund
Fiduciary Funds
Private-purpose—Student Scholarship Fund
Pension trust—Fire and Police Retirement Fund
Chapters 3 & 4
The Balance Sheets of the General Fund and the Street and Highway Fund of the City of
Monroe as of December 31, 2014, follow. These (beginning) balances have been entered in
the proper general ledger accounts, as of 1/1/2015.
Continuous Problem – City of Monroe
2
CITY OF MONROE
General Fund Balance Sheet
As of December 31, 2014
Assets
Cash $502,000
Taxes receivable $210,000
Less: Estimated uncollectible taxes (42,000)
net 168,000
Interest and penalties receivable on taxes 5,200
Less: Estimated uncollectible interest and penalties (950)
net 4,250
Due from state government 210,000
Total assets $884,250
Liabilities, Deferred Inflows, and Fund Equity
Liabilities:
Accounts payable $ 99,000
Due to other funds 27,000
Total liabilities 126,000
Deferred inflows – Property taxes 21,000
Fund equity:
Fund balance—assigned
(for outstanding encumbrances) $17,000
Fund balance—unassigned 720,250
Total fund balance 737,250
Total liabilities, deferred inflows and fund equity $884,250
CITY OF MONROE
Street and Highway Fund Balance Sheet
As of December 31, 2014
Assets
Cash $21,000
Investments 59,000
Due from state government 109,000
Total assets $189,000
Liabilities and Fund.
Know About TDS and TCS Return Due Dates for the FY 2022–2023 | Academy Tax4we...Academy Tax4wealth
Do you want to know about TDS and TCS Return Due Dates for the FY 2022–2023? Check Late filing fees, Penalty, Interest Rate for Payment of TDS and TDS Return Forms. Join Academy Taax4wealth now, because this is the best e – learning platform. Enroll now, and make your career.
For more information, you can visit us at:-
https://academy.tax4wealth.com/blog/due-dates-of-e-filing-of-tds-or-tcs-return
https://academy.tax4wealth.com/
Objectives & Agenda :
Income Tax Act, 1961 was introduced as an Act of Parliament. However, to understand the subject, it needs to be read along with various limbs like the Constitution, the legal backing for the levy as well as the administrative mechanism in existence to ensure the levy operates for its intended purpose. The discussion shall be oriented towards giving an overview of the subject together with the background with which the subject needs to be read and understood and additionally, a high level overview on tools for interpreting the statute.
Accounting Standards: Definition, Rules, and Applicability | Academy Tax4wealthAcademy Tax4wealth
Accounting standards can be defined as a set of principles, guidelines, and rules that govern the preparation and presentation of financial statements. Enroll now.
For more information, visit us at:-
https://academy.tax4wealth.com/blog/accounting-standards
Understanding the Importance of Balance Sheets | Academy Tax4wealthAcademy Tax4wealth
A balance sheet outlines a company’s assets, liabilities, and shareholder equity at a given moment. The balance sheet provides a holistic view of a company’s & financial stability.
For more information, visit us at:-
https://academy.tax4wealth.com/blog/understanding-the-importance-of-balance-sheets
More Related Content
Similar to Role of CBDT in Indian Taxation System | Academy Tax4wealth
Section 206AA – Rule 37BC
Central Board of Direct Taxes vide Notification No. 53/2016 dated 24.06.2016 has amended the Income Tax Rules, 1962 by inserting a new Rule 37BC through the IT (17th Amendment) Rules, 2016.
According to the in-depth analysis, the VsV Bill results in a win-win situation for both the government and the Taxpayer. While the VsV Bill will help in reducing the overall litigations as of date, it is equally important for the government to also chalk out a plan to reduce future litigations. See More :https://www2.deloitte.com/in/en/services/tax.html
As the prescribed due date for furnishing of TDS statement for the Quarter 1 of the Financial Year 2020-21 is around the corner, that is, July 31, 2020, there is a chaos to know about the applicable due date. Whether it will be the original due date of 31-07-2020 as per Rule 31A or 31-03-2021, the due date extended for all compliances (falling between 20-03-2020 to 31-12-2020) by the Notification No. 35/2020, dated 24-06-2020. We have tried to solve this controversy in this write-up
Public Finance is one of the most crucial parts of public administration. Proper financial planning and execution is imperative for the development of the society. In the Indian context, it is Union Finance Ministry that deals with budget formation as well as financial service provisions. Hence, it is necessary to study the working of this ministry along with the operations of offices like CAG and Finance Commission to understand the pillars of Indian administration.
Continuous Problem – City of Monroe 1Continuous Probl.docxmaxinesmith73660
Continuous Problem – City of Monroe
1
Continuous Problem – City of Monroe
TO ACCOMPANY
ESSENTIALS OF ACCOUNTING FOR GOVERNMENTAL
AND NOT-FOR-PROFIT ORGANIZATIONS:
TWELFTH EDITION
Chapters 2 through 8 describe accounting and financial reporting by state and local
governments. A continuous problem is presented to provide an overview of the reporting
process, including preparation of fund basis and government-wide statements. The problem
assumes the government is using fund accounting for its internal record-keeping and then at
year-end makes necessary adjustments to prepare the government-wide statements. The
problem that follows is presented in the same order as the textbook (beginning with Chapters
3, and 4).
Each chapter requires the preparation of journal entries to record the events and transactions
of governmental, proprietary, or fiduciary funds. For the General Fund, use control accounts
for the budgetary accounts, revenues, expenditures and encumbrances. For all other funds,
use separate accounts for each type of revenue and expenditure/expense. At appropriate
stages, preparation of the fund and government-wide statements are required. The following
funds are included in this series of problems:
Governmental Funds
General
Special revenue—Street and Highway Fund
Capital projects—City Hall Annex Construction Fund
Debt service—City Jail Annex Debt Service Fund
Debt service—City Hall Debt Service Fund
Proprietary Funds
Internal service—Stores and Services Fund
Enterprise—Water and Sewer Fund
Fiduciary Funds
Private-purpose—Student Scholarship Fund
Pension trust—Fire and Police Retirement Fund
Chapters 3 & 4
The Balance Sheets of the General Fund and the Street and Highway Fund of the City of
Monroe as of December 31, 2014, follow. These (beginning) balances have been entered in
the proper general ledger accounts, as of 1/1/2015.
Continuous Problem – City of Monroe
2
CITY OF MONROE
General Fund Balance Sheet
As of December 31, 2014
Assets
Cash $502,000
Taxes receivable $210,000
Less: Estimated uncollectible taxes (42,000)
net 168,000
Interest and penalties receivable on taxes 5,200
Less: Estimated uncollectible interest and penalties (950)
net 4,250
Due from state government 210,000
Total assets $884,250
Liabilities, Deferred Inflows, and Fund Equity
Liabilities:
Accounts payable $ 99,000
Due to other funds 27,000
Total liabilities 126,000
Deferred inflows – Property taxes 21,000
Fund equity:
Fund balance—assigned
(for outstanding encumbrances) $17,000
Fund balance—unassigned 720,250
Total fund balance 737,250
Total liabilities, deferred inflows and fund equity $884,250
CITY OF MONROE
Street and Highway Fund Balance Sheet
As of December 31, 2014
Assets
Cash $21,000
Investments 59,000
Due from state government 109,000
Total assets $189,000
Liabilities and Fund.
Know About TDS and TCS Return Due Dates for the FY 2022–2023 | Academy Tax4we...Academy Tax4wealth
Do you want to know about TDS and TCS Return Due Dates for the FY 2022–2023? Check Late filing fees, Penalty, Interest Rate for Payment of TDS and TDS Return Forms. Join Academy Taax4wealth now, because this is the best e – learning platform. Enroll now, and make your career.
For more information, you can visit us at:-
https://academy.tax4wealth.com/blog/due-dates-of-e-filing-of-tds-or-tcs-return
https://academy.tax4wealth.com/
Objectives & Agenda :
Income Tax Act, 1961 was introduced as an Act of Parliament. However, to understand the subject, it needs to be read along with various limbs like the Constitution, the legal backing for the levy as well as the administrative mechanism in existence to ensure the levy operates for its intended purpose. The discussion shall be oriented towards giving an overview of the subject together with the background with which the subject needs to be read and understood and additionally, a high level overview on tools for interpreting the statute.
Accounting Standards: Definition, Rules, and Applicability | Academy Tax4wealthAcademy Tax4wealth
Accounting standards can be defined as a set of principles, guidelines, and rules that govern the preparation and presentation of financial statements. Enroll now.
For more information, visit us at:-
https://academy.tax4wealth.com/blog/accounting-standards
Understanding the Importance of Balance Sheets | Academy Tax4wealthAcademy Tax4wealth
A balance sheet outlines a company’s assets, liabilities, and shareholder equity at a given moment. The balance sheet provides a holistic view of a company’s & financial stability.
For more information, visit us at:-
https://academy.tax4wealth.com/blog/understanding-the-importance-of-balance-sheets
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For more information, visit us at:-
https://academy.tax4wealth.com/blog/understanding-the-importance-of-balance-sheets
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Accounting steps onto the bridge, playing a crucial role in upholding corporate governance and maintaining the delicate harmonisation in the organisation. Enroll now.
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The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
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2. Historical Background of Central Board of Direct Taxes (CBDT):
The Central Board of Revenue is the apex body of the Income Tax Department. It
is charged with taxes that came into force due to the introduction of the
Central Board of Revenue Act, 1924. In the beginning, the board was
provided the charge of direct as well as indirect taxes. However, when the
administration taxes became complex to handle, then the board was divided into
two such as;
1. Central Board of Direct Taxes
2. Central Board of Excise and Customs
Both of the aforesaid boards came into force on 1 January 1964. The separation of
the same was introduced by constituting two boards under Section 3 of the
Central Board of Revenue Act, 1963.
Also read; CBDT Interim action plan
What is the Central Board of Direct Taxes (CBDT)?
The Central Board of Direct Taxes (CBDT) is a statutory body established
under the Central Board of Revenue Act, 1963. It is considered the official
financial task force unit of India. The Central Board of Direct Taxes is governed by
the Department of Revenue under the guidance of the Ministry of Finance.
Originally, the board was known as the Central Board of Revenue which worked as
an apex body of the Income Tax Department. The aforesaid board was
established under the Central Board of Revenue Act, 1924. It was governing
direct as well as indirect taxes. Later, in the year 1964, the Central Board of
Revenue was divided into the following two boards;
1. Central Board of Direct Taxes
2. Central Board of Excise and Customs
3. What are the structure of the Central Board of Direct Taxes (CBDT)?
The Central Board of Direct Taxes consists of six members and a chairman. They
deal with the following aspects;
✅ Administration
✅ Income Tax & Revenue
✅ Audit and Judiciary
✅ Legislation
✅ Investigation
✅ TPS & System
The members of the CBDT are selected from the Revenue Services of India. The
members also make the top management of the Income Tax Department.
What are the composition of the Central Board of Direct Taxes (CBDT)?
The CBDT consists of six members and a chairman. The details whereof are
furnished below;
✅ Chairman
✅ Member (Administration)
✅ Member (Revenue and Income Tax)
✅ Member (Investigation)
✅ Member (Legislation)
✅ Member (Audit and Judicial)
✅ Member (TPS and System)
4. What are the Functions of the Central Board of Direct Taxes (CBDT)?
The following are some of the functions of the Central Board of Direct Taxes;
✅ CBDT deals with the matter related to imposition and collection of direct
taxes.
✅ It works for the formulation of several policies and principles
✅ CBDT supervises the whole Income Tax Department
✅ CBDT provides suggestions regarding the changes and amendments in the
direct tax enactments
✅ CBDT provides suggestions regarding the changes in the rates of taxes
✅ CBDT makes proposals for changes in the taxation structure considering the
current government policies.
✅ CBDT also provides an Interim Action Plan for each financial year. The details
whereof are provided below.
The Key Result Areas and the prescribed time frame as mentioned in
the Interim Action Plan for the financial year 2021-22 dated 10 June
2021 are given as under:
Key Result Areas Time Limit
A. Charges of Assessment, Jurisdictional Assessing Officer, and
Exemption Charges
(i) Verification of Demand:
(i) To check all the demand according to PAN and year
from the system, TMS or AST, or any manual demand
(i) 31.07.2021
(ii) 15.07.2021
5. whichever is remained, and also remove the duplicate
entries.
(ii) Certification and verification in CPC Financial
Accounting System (FAS) in some of the cases which
are notified under section 245 as issued by CPC till
March 31, 2021
(ii) Redressal for Grievances:
Disposal of CPGRAM and Electronic Nirvana (E-
nivaran) exceeding 30 days
30.06.2021
(iii) Survey Reports Uploading:
To upload all reports of surveys, scanned copies of
extracted documents procured during the survey but
the same are not impounded to any other document
that is relevant to complete and initiate under section
143(3)/148.
31.07.2021
(iv) The objection of Audit:
To identify and further process;
Final settlement minor and major revenue in 75% and
objections in internal audit raised till 31.03.2020
Final settlement of minor and major revenue of 50%
and 75% respectively and objections in internal audit
raised till 31.03.2021
15.07.2021
31.07.2021
(v) Effects of Rectification and Appeal:
The applications disposal under Ws 154 submitted by
31.07,2021
6. the assesses and accordingly providing the effects of
appeal in all eligible cases as on 01.04.2021
Jurisdictional Assessing Officer
(vi) To upload the related and case documents for
assessment including set aside cases.
Immediate
(vii) To Identify and process all the cases including the case
of 153C, search cases, TR and FT Cases, and Flack
money Act cases. These need centralization in the
central charges.
30.06,2021
(viii) Passing of orders in partial set-aside cases that must
be at least 25% cases of total pendency till 01.04.2021
31.07.2021
Exemption Units:
(ix) The cases that are falling under CCIT jurisdiction are
still termed as incorrect jurisdiction for identification
and transfer to respective CSIT.
As far as
possible
(x) Disposal of petitions that are submitted up to
31.03.2021 to seek condonation for the delay in filing
Form 10 & 10B
30.06.2021
(xi) To complete the consequential rectification made by
assessing officers in all cases in which condonation has
been provided by the CIT for the delay in filing Form
10 & 10B.
31.07.2021
B. NAFAC
7. Disposal of penalties and assessment of at least 30% in
cases that are barred as on 30.09.2021
31.07.2021
C. TDS Units
(1) For reduction in TDS demands as of 01.04.2021 which
includes demands that are not fallen due by 25%
The collection out of demands of TDS demands as of
01.04.2021 also includes demand not fallen due by
10%
31.07.2021
(ii) The examination of the first 30 top short payment
cases according to the Assessing Officer and also
according to the MIS report (SP with unconsumed
challans)
(iii) The reconciliation cases that are brought forward (as
of dated 01.04.2021) of TDS as reported by AINs with
payment by State through OLTAS and based on the
report provided on the TRACES portal.
(iv) Seminars and awareness campaigns have to be
conducted with the help of webinars
(v) Disposal of applications under section 154 of the
Income Tax Act as submitted by the assesses up to
31.03.2021
(vi) Passing of order under section 201(1)/(IA) for cases
that are falling under the TDS survey conduct report
conducted up to 31.03.2021
8. (vii) The disposition of l pending applications for lower or
nil deduction as of 30.06.202 under section u/s 197
and 206C (9) with TDS or TCS certificates
D. CIT(AUs)
(i) At least 100 draft appellate orders Passing 31.07.2021
(ii) Appeals for V5V regarding form 5 that is received must
be disposed
Within one
week from the
receiving of
the Form
E. CIT(Audit)
(i) The disposition of pending references in respect of
certificates needed for the disposition of reward claims
of informants.
31.07.2021
(ii) To conduct a meeting with the level of Pr. CIT (Audit)
and Pr. Director (Audit) to settle the pending
objections as soon as possible.
31.07.2021
(iii) To take action for settlement IAP objections of at least
20% that are raised in the financial year 2020-21
31.07.2021
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