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Central Board of Direct Taxes

From Wikipedia, the free encyclopedia
Central Board of Direct Taxes
AbbreviationCBDT
Agency overview
Formed1 January 1964; 60 years ago (1964-01-01)
Preceding agency
  • Central Board of Revenue
Legal personalityStatutory body
Jurisdictional structure
National agency
(Operations jurisdiction)
IND
Operations jurisdictionIND
Legal jurisdictionIndia
Governing bodyGovernment of India
Constituting instrument
  • Central Board of Revenue Act, 1963
Operational structure
HeadquartersNew Delhi, India
Minister of Finance responsible
Agency executive
Parent agencyDepartment of Revenue
Child agency

The Central Board of Direct Taxes (CBDT) is a statutory body under the Department of Revenue, Ministry of Finance, Government of India. It oversees the administration of direct taxes, including income tax and corporate tax, through the Income Tax Department. The CBDT was constituted in 1964 under the Central Board of Revenue Act, 1963. The counterpart for indirect taxes is the Central Board of Indirect Taxes and Customs (CBIC).

CBDT is currently headed by Ravi Agarwal, the Chairperson of the Central Board of Direct Taxes.

History

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The Central Board of Revenue, the apex body of the Department entrusted with the administration of taxes, was established under the Central Board of Revenue Act, 1924. It was initially responsible for both direct and indirect taxes. However, on 1 January 1964, the Board was bifurcated into two separate entities: the Central Board of Direct Taxes (CBDT) and the Central Board of Excise and Customs (CBEC). This division was formalized through the constitution of the two Boards under Section 3 of the Central Board of Revenue Act, 1963.[1]

Associated bodies

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References

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  1. ^ "Central Board of Direct Taxes". Income Tax Department. Retrieved 25 October 2024.
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