F.No. 225/322/2015/ITA.II
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
North-Block, New Delhi, the 17th of December, 2015
ORDER
In exercise of powers conferred under section 119 of the Income-tax Act, 1961 read with section 6 and section 84 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (‘Act’), the Central Board of Direct Taxes, with effect from 18th December, 2015 and until further orders, hereby directs that for the purposes of making declaration of undisclosed foreign assets under section 59 of the said Act and matters related thereto, Shri Rahul Navin, CIT(TP)-1, New Delhi shall be the designated Income-tax authority.
(Ankita Pandey)
DCIT(OSD)(ITA-11)

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Category : Income Tax (25509)
Type : Notifications/Circulars (30678) Orders (505)

0 responses to “Black Money : CBDT declares designated Income-tax authority”

  1. hemen says:

    How to conquer Corruption ?

    There is only one sure – and superfast – way to get rid of corruption
    By introducing :
    * NEGATIVE MOTIVATION
    Putting behind bars ( – and right away ; not after 6 years ) , every corrupt fellow and
    immediately confiscating his ill-gotten wealth
    * POSITIVE MOTIVATION
    By abolishing Personal Income Tax and introducing Amnesty Scheme , incentivize
    # converting of black money into white
    # acceptance of all payments thru official channels

    As far as providing ” Negative Motivation ” is concerned , I had sent following suggestion to our Hon Prime Minister / Finance Minister / other Ministers / Secretaries etc , on 4th Nov 2015 :

    # INTERNET OF THINGS ( IoT )

    As each currency note of Rs 500 / 1000 , is getting printed , embed it with microscopic
    RFID chips ( with this , current cost of a RFID chip will fall from 50 paise to 5 paise )

    Besides communicating with each other , these chips will also transmit their existence
    location , through internet , to cloud-based servers of Income Tax Department

    This will form a ” NETWORK OF CURRENCY NOTES ( NoC ) ”

    You may like to call this Internet of Currency ( IoC ) , a sub-set of IoT !

    # IP ADDRESS SYSTEM ( IP V 6.0 )

    Each Rs 500 / 1000 currency note must be assigned ( at the time of printing ) , its own
    unique Internet Address , using IP V 6.0

    This IP address should be linked with the unique Serial Number printed on each note.

    Since IP V 6.0 , will be capable of assigning ” 2 * 10 to the power of 128 “, no of IP
    addresses , there is no danger of running out of addresses , even if we decide to extend
    this idea to Rs 100 currency notes !

    Here are the most important BYE – PRODUCTs :

    * No more possibility of fake / forged / counterfeit , currency notes

    * No thief would ever want to steal such currency notes which continuously announce their
    location

    * No one would want to make any ” Cash Deal ” . All payments will become official only !

    * Plastic currency notes will last 10 times longer !

    This reform will enable the Central Government / Income Tax Department , to :

    * Continuously trace the movement of each of these higher denomination currency notes

    * Instantly locate any place ( using Google Map based GPS ) , where there is an
    accumulation of more than Rs 1 Crore worth of currency notes

    Such accumulation will be made to appear as a TAG CLOUD on the web site of IT Dept,
    like thousands of balloons floating on a map of India , capable of being drilled down to
    within 1 Sq Meter ! Of course , visible only to IT officers ; not to general public !

    On each balloon , will appear a number announcing , ” Amount of Cash here – Rs ” !

    This will vastly simplify the task of Anti Corruption Dept / Enforcement Dept etc
    Of course , RBI will need to allow 6 month’s time to the owners of current paper currency notes of Rs 500 / 1000 , to get these exchanged with new plastic notes before withdrawal of the old notes from circulation

    Implementation of this suggestion , does NOT require passing of any BILL in Lok Sabha or being held to ransom in Rajya Sabha !

    And it can be implemented in India , within ONE YEAR

    But if Chinese President Xi Jinping comes to know about the practicality of this suggestion , he might implement it in 6 months !

    How come ?

    Simple ! Xi Jinping has the political will ! And no historical baggage !

    ——————————————————————————————————-

    hemen parekh

    22 Dec 2015

    ( Also read blog ” Network of Currency Notes ” at : hemenparekh.in>Blogs )

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