//26 Apr 2020
The 43-page document contains a slew of proposals. One of them suggests that those earning more than a crore a year should be taxed at 40 per cent. This would be 10 per cent higher than the current 30 per cent. Since taxpayers with high net-worth have to pay taxes over and above their income tax liability, their tax burden as per the 40 per cent proposal would be close to 56 per cent. This means they would be paying more than half their income as taxes.
Now, Chairman of the Central Board of Direct Taxes (CBDT) has been directed to seek an explanation from these officers for writing such "ill-conceived views" in public without having any authority to do so. After criticising the suggestions, the CBDT has launched an inquiry against the officers claiming that "suggestions on official matters is a violation of extant Conduct Rules."
In an attempt to completely distance itself from the suggestions by the IRS officers, the central government added, "It is not even part of their duty to prepare such a report. It is prima-facie an act of indiscipline and violation of conduct rules which specifically prohibits officers to go to media with their personal views on official matters without taking prior sanction or the permission of the government."//
https://www.indiatoday.in/india/story/centre-rushes-in-to-junk-irs-officers-report-proposing-wealth-tax-cbdt-orders-inquiry-1671411-2020-04-26
//26 Apr 2020
"There is some report circulating on social media regarding suggestions by a few IRS officers on tackling Covid-19 situation. It is unequivocally stated that CBDT never asked IRS Association or these officers to prepare such a report," it wrote.
"No permission was sought by the officers before going public with their personal views and suggestions, which is a violation of extant Conduct Rules," it wrote.//
https://www.freepressjournal.in/business/now-it-department-pulls-up-irs-officers-over-force-report-on-income-tax-increase-says-cbdt-never-asked-for-a-report
//27 Apr 2020
According to the tax department, this action has been taken by the department in view of their role and complicity in the preparation of the report named 'FORCE' which was being circulated and widely covered in media since April 25, 2020. "The report created panic and tax policy uncertainty in the already stressed economic conditions in the country," says sources in the department.
Government sources further said that these senior officers, despite having more than 30 years of service, failed to exercise due care and went on to misguide 50 young officers. Government would have definitely given due consideration to suggestions made by the young officers. However, instead of sending the recommendations to the government through official channel, these Principal Commissioner-rank officials misguided their juniors and went public with report, which created panic and tax policy uncertainty in the already stressed economic conditions in the country, they said.//
https://www.businesstoday.in/current/economy-politics/chargesheets-against-3-irs-officers-for-report-suggesting-super-rich-tax/story/402178.html
The 43-page document contains a slew of proposals. One of them suggests that those earning more than a crore a year should be taxed at 40 per cent. This would be 10 per cent higher than the current 30 per cent. Since taxpayers with high net-worth have to pay taxes over and above their income tax liability, their tax burden as per the 40 per cent proposal would be close to 56 per cent. This means they would be paying more than half their income as taxes.
Now, Chairman of the Central Board of Direct Taxes (CBDT) has been directed to seek an explanation from these officers for writing such "ill-conceived views" in public without having any authority to do so. After criticising the suggestions, the CBDT has launched an inquiry against the officers claiming that "suggestions on official matters is a violation of extant Conduct Rules."
In an attempt to completely distance itself from the suggestions by the IRS officers, the central government added, "It is not even part of their duty to prepare such a report. It is prima-facie an act of indiscipline and violation of conduct rules which specifically prohibits officers to go to media with their personal views on official matters without taking prior sanction or the permission of the government."//
https://www.indiatoday.in/india/story/centre-rushes-in-to-junk-irs-officers-report-proposing-wealth-tax-cbdt-orders-inquiry-1671411-2020-04-26
//26 Apr 2020
"There is some report circulating on social media regarding suggestions by a few IRS officers on tackling Covid-19 situation. It is unequivocally stated that CBDT never asked IRS Association or these officers to prepare such a report," it wrote.
"No permission was sought by the officers before going public with their personal views and suggestions, which is a violation of extant Conduct Rules," it wrote.//
https://www.freepressjournal.in/business/now-it-department-pulls-up-irs-officers-over-force-report-on-income-tax-increase-says-cbdt-never-asked-for-a-report
//27 Apr 2020
According to the tax department, this action has been taken by the department in view of their role and complicity in the preparation of the report named 'FORCE' which was being circulated and widely covered in media since April 25, 2020. "The report created panic and tax policy uncertainty in the already stressed economic conditions in the country," says sources in the department.
Government sources further said that these senior officers, despite having more than 30 years of service, failed to exercise due care and went on to misguide 50 young officers. Government would have definitely given due consideration to suggestions made by the young officers. However, instead of sending the recommendations to the government through official channel, these Principal Commissioner-rank officials misguided their juniors and went public with report, which created panic and tax policy uncertainty in the already stressed economic conditions in the country, they said.//
https://www.businesstoday.in/current/economy-politics/chargesheets-against-3-irs-officers-for-report-suggesting-super-rich-tax/story/402178.html
No comments:
Post a Comment