IndigoLearn

Mcq

Pls explain how CBDT is not binding generally on taxpayers.without binding only , taxpayers are paying taxes

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Divya tejasri

Divya tejasri

CA Inter

8K+

20-Feb-20 13:39

21

Answers (2)

Income tax is collected under the Income Tax Act. Circulars are issued by CBDT which is an administrative body. Circulars help in a better understanding of the law or provide clarification on provisions of law. Because tax authorities work under CBDT, the circulars of CBDT are binding on assessee. However, as far as taxpayers are concerned, they can ignore the circulars and have their own interpretation of tax laws.


Suraj Lakhotia

Suraj Lakhotia

Admin

20-Feb-20 22:04

Tq sir


Divya tejasri

Divya tejasri

CA Inter

8K+

20-Feb-20 22:45