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Consider the following statements about Central Board of Direct Taxes (CBDT). (a) The Central Board of Direct Taxes is a statutory authority functioning under the Central Board of Revenue Act, 1963. (b) It provides essential inputs for policy and planning of direct & Indirect taxes in India. (c) The CBDT is headed by CBDT Chairman and it comprises of seven members. (d) It is India’s official Financial Action Task Force unit. Which of the following statements are correct about CBDT? Select the correct answer using the code given below:

Consider the following statements about Central Board of Direct Taxes (CBDT). (a) The Central Board of Direct Taxes is a statutory authority functioning under the Central Board of Revenue Act, 1963. (b) It provides essential inputs for policy and planning of direct & Indirect taxes in India. (c) The CBDT is headed by CBDT Chairman and it comprises of seven members. (d) It is India’s official Financial Action Task Force unit. Which of the following statements are correct about CBDT? Select the correct answer using the code given below: Correct Answer a, b, and d

The correct answer is a, b, and d.

Key Points

  • The Central Board of Direct Taxes is a statutory authority functioning under the Central Board of Revenue Act, 1963.
  • The Central Board of Direct Taxes provides essential inputs for policy and planning of direct taxes in India.
  • CBDT is headed by a Chairman and followed by six Members of various departments.
  • It is the official FATF of India(Financial action task Force, Money laundering)

Additional Information

  • IRS officer Nitin Gupta has been appointed as the new Central Board of Direct Taxes (CBDT) chairman.
  • Mr Gupta is an Indian Revenue Service (IRS) officer of the 1986 batch of the Income Tax cadre and is currently serving as the Member (investigation) in CBDT.
  • The post of the CBDT chief was being held in an additional capacity by Board member and 1986-batch IRS officer Sangeeta Singh.

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