Nitin Gupta appointed as New CBDT Chairperson

Highlights:

• Recently, appointments Committee of the cabinet has approved the appointment of IRS officer Nitin Gupta as the new chairman of Central Board of Direct Taxes (CBDT).
• Nitin Gupta is an Indian Revenue Service (IRS) officer of 1986 batch.
• He belongs to the Income Tax cadre.
• He is serving as Member (investigation) in the Board.
• He is scheduled to retire in September next year.
• He has been appointed as the chairman, from the date of assumption of this post.
• There are five members in the Board currently.

• CBDT is a statutory body and administrative body of Income Tax department, established in accordance with the Central Board of Revenue Act, 1963.
• It is the official financial action task force unit in India.
• The board is administered by “Department of Revenue”, under “Ministry of Finance”.
• CBDT is headed by a chairman. It can comprise of six members who are in the rank of special secretary.
• CBDT deals with levying and collecting Direct Taxes.
• The board formulates various policies.
• It supervises entire Income Tax Department.
• It also suggests legislative changes in Direct Tax Enactments.