Akhilesh Ranjan Current Affairs - 2019
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Union Finance Ministry has appointed Akhilesh Ranjan, Central Board of Direct Taxes (CBDT) member as Convenor of Task Force that is drafting New Direct Tax Legislation (Law). He will replace Arbind Modi who retired in September 2018. The other members (composition) of the Task Force remain unchanged. Akhilesh Ranjan is presently serving as Member (Legislation) of CBDT.
The task force was constituted in November 2017 in order to review Income-tax Act, 1961 and to draft new direct tax law in consonance with the economic needs of the country. At that time, Arbind Modi, who was then Member (Legislation) of CBDT was appointed as Convener of task force.
The task force has been mandated to draft appropriate Direct Tax Legislation keeping in view direct tax system prevalent in various countries, international best practices and economic needs of the country. It will submit its report to Government by February 28, 2019. It has set its own procedures for regulating its work.
Tags: Akhilesh Ranjan • Arbind Modi • CBDT • Committees • Convenor • Economy of India • Finance Minstry • Government of India • Income tax in India • India • Ministry of Finance • New Direct Tax Legislation • Persons in News • Taxation in Bulgaria • Taxation in India • The Income-tax Act
Appointments Committee of the Cabinet (ACC) has appointed three senior IRS officers K Dash, Akhilesh Ranjan and Neena Kumar as new members of Central Board of Direct Taxes (CBDT). All three members belong to 1982-batch of the Indian Revenue Service (IRS). Prior to this appointment, Dash was serving as principal chief commissioner of I-T (PCCIT) in Bhopal, Ranjan and Kumar were serving as PCCsIT in Delhi. With these three new joinings, CBDT now has full house strength of five members and chairman. The two other members of CBDT are IRS officers Aditya Vikram and P C Mody while the borad’s Chairman is Sushil Chandra.
Central Board of Direct Taxes (CBDT)
CBDT is nodal policy-making body of Income Tax (IT) department under Finance Ministry. It is a statutory authority established under The Central Board of Revenue Act, 1963. It is supreme body in India for framing policies related to direct taxes and is also tasked to enforce direct tax laws in the country. The composition of CBDT includes Chairman and six members.