By james IRS Full Form- From a Tax Collector 2 a Strategic Partner in Economic Development
The acronym IRS stands for Indian Revenue Service, which functions as an executive agency under the Ministry of Finance, Government of India. Its main role involves the collection and administration of income tax and associated surcharges within the country. The IRS was instituted on September 1, 1961, under the authority of the Central Board for Direct Taxes, following the enactment of the Income-tax Act, 1961 by the .
The IRS’s role mainly involves:
- Collection
- Management
- Enforcement
- Administration
The Income-tax Act provides that all persons subject to taxes must file returns with, and pay taxes to, the Indian Revenue Services or a Regional Commissioner as authorized by law.
History of the IRS || IRS Full Form
The Indian Revenue Service (IRS) serves as the tax collection agency for the Government of India. Initially established in 1924 as the British Indian Income Tax Department, it gained independence as a separate organization through a parliamentary Act on 16 February 1921.
Initially designated as the Central Board of Revenue in 1925, it operated under the oversight of the Secretary to the Government of India in charge of Finance until 1947, when it attained autonomy. The service adopted its current name, “Indian Revenue Service,” in 1961-62. Committed to administering India’s taxation laws with fairness and efficiency, the IRS follows the motto “faithful, fair, firm.”
Overview of the IRS || full form of IRS
The Indian Revenue Service (IRS) is categorized under Group A within the Central Civil Services, aligning it with prestigious services such as the Indian Foreign Service, the Foreign and Defense Services of the Indian Armed Forces, and the Andaman and Nicobar Islands Civil Service, which falls under Group B of the Central Civil Services. Group A signifies the senior-most civil services in the country. IRS officers occupy significant positions, holding ranks equivalent to Joint Secretary and Cabinet Secretary levels within the Government of India. Historically, Indian Revenue Service officers also held the position of Secretary in the Finance Ministry.
Structure || IRS full form in Hindi || IRS full form
IAST: Bhāratīya Rājasva Sevā: Structures of the Indian Revenue Service Subordinate formations Each of the 14 zones is an autonomous entity headed by a Commissioner of Taxation (IAST: Ānava Bhāratīya Rājasva Sevā). The Vice-Chairman of each zone is an Additional Secretary to the Government of India, usually a senior level officer of the IAS. Each location is subdivided into multiple state or union territory branches, headed by a Director-General of Taxation. The Director-General heads the state or union territory branch, which is further divided into three districts each, led by a Superintendent of the Taxation.
Central Board of Revenue || IRS ka full form
“Commence with shedding the weighty cloak of ignorance for a promising start,” advises an attributed quote often linked to Mohandas Gandhi. Another notable insight credited to him is, “Education is not a mere preparation for life; rather, life itself is a preparation for education.”
Mohandas K. Gandhi, renowned for his pivotal role in the Indian Independence Movement, exemplified profound service to others during his tenure as the Principal of Anand Bharatam University. In 1907, at the age of 30, he showcased his commitment by donating his personal book collection to the university, thereby establishing the first university in Asia to possess such a dedicated library.
The roots of the Indian Revenue Service (IRS) trace back to its establishment as the Central Tax Department in 1940. The subsequent evolution led to the renaming of the Central Board of Revenue (CBD) as the Central Board of Indirect Taxes and Customs (CBDIC) in 2003.
What does the IRS do? || IRS full form in India
It consolidates tax revenues from all taxpayers by creating a comprehensive list of individuals and businesses subject to taxation. Subsequently, the IRS allocates tax-related responsibilities, including compliance, investigation, and other services, to collection agencies. The agency is responsible for collecting key revenue streams such as corporate tax, personal income tax, general sales tax, and various smaller revenue sources from diverse central government departments. The IRS plays a crucial role in Indian tax administration and contributes significantly to meeting government expenditures.
Each income tax officer, whether a lawyer, collector, or similar role, oversees a team of several hundred officers tasked with enforcing various statutes. Their responsibilities include processing cases for the payment of multiple taxes to the government, as well as handling expenses such as taxes on savings, life insurance premiums, donations, and more.
Conclusion || IRS full form
Over the course of eight decades, the IRS has undergone numerous reforms, urstoryiq.com offering a rich landscape for discussion. These include milestones like the Provisional Allotment, Statutory Amendment Act of 1950, the Special Allotment Order of 1961 within the Revenue Division, and the Fourth Allotment Order of 1971 in the same division.
Notable changes also encompass the Removal of Article 79 from the Constitution, the Additional Powers in Taxation Amendment Act of 1967, the Special Powers in Taxation Act of 1971, and the Second Additional Powers in Taxation Act of 1972. The Federation of India Act in 1937 and the Elective Preference Auctions Act of 1974 further contribute to the extensive history of tax reforms.
A significant development occurred on August 27, 2017, when President Kovind expanded the composition of the “Supreme Court of India.” In addition to the Chief Justice, five additional Chief Justices were appointed. It’s noteworthy that the President holds the authority to appoint the President of India.
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