CBDT Meaning and
Definition
-
CBDT stands for Central Board of Direct Taxes. It is a governmental authority in India that functions under the Department of Revenue, which itself comes under the Ministry of Finance. The CBDT is responsible for the administration of direct taxes in the country and is the apex body that makes policy decisions relating to income tax laws and enforcement.
The Central Board of Direct Taxes is entrusted with the task of regulating the collection and distribution of direct taxes, such as income tax, wealth tax, and gift tax. It formulates policies and directs the Income Tax Department in the implementation and enforcement of these taxes. The CBDT is primarily responsible for framing income tax rules, procedures, and guidelines and also ensuring the proper implementation of income tax laws across India.
Additionally, the CBDT handles matters related to international taxation, tax evasion, tax avoidance, and tax investigation. It aims to ensure fairness, efficiency, and transparency in the tax system, while also promoting tax compliance among individuals and businesses. The CBDT plays a crucial role in tax planning and policy-making, along with conducting research and analysis to suggest improvements and amendments to existing tax laws.
Overall, the CBDT serves as the key authority in directing and overseeing the administration of direct taxes in India, with the objective of achieving effective revenue mobilization and ensuring a fair and equitable tax system.
Common Misspellings for CBDT
- cbdrt
- cbdtr
- cbdtf
- cbdgt
- cbdtg
- cbdyt
- cbdty
- cbd6t
- cbdt6
- cbd5t
- cbdt5
- ccbdt
- cbbdt
- cbddt
- cbdtt
- kBDT
- c bdt
- cb dt
- cbd t
Infographic
Add the infographic to your website:
