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Blackmoney window: CBDT orders rationing of taxman's leave

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.



New Delhi: 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.

The department has also published a country-wide list of registered asset valuers for those who wish to declare their untaxed funds and properties under the one-time domestic black money compliance window.

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.

 

From Zee News

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