TYPES OF SURVEY . - Computation and assessment of income tax chargeable. (p) It authorizes particular income-tax authorities to conduct a search etc. Following are the important functions and powers of commissioner of income tax. They assist Assessing Officers in performance of their duties. The board may empower director general or chief commissioner or commissioner to authorise deputy commissioner or deputy director to exercise the powers of assessing authority in respect of any specified area, person, incomes or cases or class of persons, class of income or class of cases. However, serving of such order shall not be deemed to be seizure of such valuable article or thing. An example of a non-discretionary function is furnished by sec. Online Tuition via Zoom. He has the power to cancel the registration of a firm which is not a genuine firm Section 186(1). This section has placed high powers with Income-Tax Authorities. Revision by Commissioner under Income Tax Act 1961, Power and functions of Income Tax Authorities, CENTRAL BOARD OF DIRECT TAXES AND ITS POWERS, Meaning of Financial Statement and its users, Online test and study materials for all competitive exams. They are appointed by chief commissioner or commissioner of Income Tax and are subordinate to Assessing officers. DIRECTOR GENERAL/CHIEF COMMISSIONER OF INCOME TAX. —(1) The Income-tax Officer, Appellate Assistant Commissioner, Commissioner and Appellate Tribunal shall, for the purposes of this Act, have the same powers as are vested in a Court under the Code of Civil Procedure, 1908 (V of 1908), when trying a suit in respect of the following matters, namely:—. Each of the functions fulfilled by the taxation instrument is a manifestation of an internal feature, an indicator or trait or this economic category. A commissioner has the power to transfer any case from one or more Assessing Officer subordinate to him to any other Assessing Officer or officers also subordinate to him. To carry out the different provisions of the Act the board makes for whole of India (section 295). (1) Income-tax authorities shall exercise all or any of the powers and perform all or any of the functions conferred on, or, as the case may be, assigned to such authorities by or under this Act in accordance with such directions as the Board may issue for the exercise of A. 7) Supervision of Technical work: This RCIT is responsible to supervise the technical work performed in the region. 2. THE CBDT OR CENTRAL BOARD OF DIRECT TAXES. Log in. Appointment of FIRST AUDITOR in case of every company except govt. FUNCTION AND POWERS OF COMMISSIONER OF INCOME TAX :- The commissioner exercises the power to control the staff of income tax department working in his jurisdiction. He has the power to issue instruction to assessing officer to revise an order issued by ITO if he has received an application from assessee regarding a pending case. Its powers are given below: 1. in Money Market Operations. Income Tax Notes – Income Tax Authorities (Powers and Functions of FBR “Federal Board of Revenue” Long Question with Answer) for B.com, ADP, BS, BBA. The board may authorise any of the authorities to exercise its power concurrently with any pother authority. They may be directed to perform any other function by general or specific order. Further, such assessee shall be entitled to simple interest of 0.5% per month or part of the month on the amount that exceeds the liabilities. Application of seized or requisitioned assets, Power to call for information by prescribed income-tax authority, Power of Principal Director General or Director General or Principal Director or Director, Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner and Joint Commissioner, Proceedings before income-tax authorities to be judicial proceedings, Enforcing the attendance of any person, including any officer of a banking company and examining him on oath, Compelling the production of books of account and documents, and. Income-Tax Authorities ANDPowers of the authorities Shankar Bose Inspector of Income-tax MSTU, Puri 2. Power of the Board and Other Higher Authorities : Subject to the rules and orders of the Central Government regulating the conditions of service of persons in public services and posts, the Central Government may authorize the Board, or a Director-General, a Chief Commissioner or a Director or a Commissioner to appoint income-tax authorities below the rank of an Assistant Commissioner or Deputy Commissioner. Where a person makes application to AO within 30 days from the end of the month in which the asset was seized, for release the same and explains the nature as well as a source of acquisition of seized assets to his satisfaction, AO shall within 120 days return the same. However, they can take inventory of the same. The CBDT has been empowered by taxation laws (amendment) Act 1975 to make rules regarding the maintenance of accounts and documents required under section 44AA. 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