The “Outcome Budget” reflects the endeavour of the Government to convert “Outlays” into “Outcomes” by planning expenditure, fixing appropriate targets and quantifying deliverables of each scheme. The “Outcome Budget” is an effort of the Government to be transparent and accountable to the people.
In addition to an Executive Summary, the Outcome Budget 2012-13 contains seven chapters relating to the Demands for which the Outcome Budget is to be prepared. These are Economic Affairs, Financial Services, Expenditure, Revenue, Direct Taxes, Indirect Taxes and Disinvestment. The chapters discuss the statement of outlays and outcomes; reform measures; policy initiatives and programmes initiated; review of past performance; financial review for three years and a review of the performance of statutory and autonomous bodies.
Do you think CBDT should extend Tax Audit Report and relevant ITR Due Date? Please Comment, Vote, Retweet and Like.— Tax Guru (@taxguru_in) September 18, 2018