CBDT Full Form:
The CBDT full form is Central Board of Direct Taxes. It comes under the central board of the government of India. The director of CBDT is Jagannath Bidyadhar Mahapatra.
Functions and Organization
The Central Board of Direct Taxes is a statutory authority performing under the Central Board of Revenue Act, 1963. The officers of the Board in their ex-officio capacity also serve as a Division of the Ministry dealing with matters similar to tax and assemblage of direct taxes.
Historical Background of CBDT.
The Central Board of Profit as the apex body of the Department, charged with the administration of levies, came into actuality as a result of the Central Board of Revenue Act, 1924. firstly the Board was in charge of both direct and circular taxes. even so, when the administration of taxes came too cumbrous for one Board to handle, the Board was resolved up into two, videlicet the Central Board of Direct Taxes and Central Board of Excise and Customs with effect from1.1.1964. This bifurcation was brought about by the constitution of two Boards u/s 3 of the Central Board of Revenue Act, 1963.
Composition and Functions of CBDT
The Central Board of Direct Taxes consists of a Chairman and succeeding six Members-
Member (Income Tax & Revenue)
Member ( investigation)
Member (TPS & system)
Member (Audit & Judicial)
CBDT Full Form Abbreviation:
CBDT Full Form = Central Board of Direct Taxes.