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selection-of-member,-finance:-a-curious-case

Selection of Member, Finance: A curious case

For many others it is a puzzle but for many others it is luck as well. The public-sector headhunter on Friday selected K Vinayak Rao (IRAS:1987) for the post of Member (Finance) Airport Authority of India (AAI). Interestingly, Rao was initially not shortlisted for interview. If some well-placed sources are to be believed PESB revised the list on Wednesday and Rao got in. Many things matter for selection but sometime luck matters the most. 

(CLICK TO READ RELATED STORY)

13 Jan 2020
cbdt:-gupta-tipped-as-member,-administration-

CBDT: Gupta tipped as Member, Administration?

If some top sources are to be Satish Kumar Gupta (IRS IT:1984) may be picked up for the post of Member, Central Board of Direct Taxes (CBDT); a post (Member, Administration) which fell vacant after the retirement of Ms Neena Kumar (IRS IT:1982). Presently, Gupta is Principal Chief Commissioner Income Tax (PCCIT), Mumbai Region.

The post, vacant vice Mrs Neena Kumar, was advertised in the second week of November 2019. Interestingly, it is believed CBDT wanted to widen the net for the appointment of members by inviting applications from relatively younger officers in rank of Principal Commissioner and above.

Presently, the posts of Member, Administration and Member Investigation are lying vacant but the later is not on offer as the post appears to have been attached to Chairman, CBDT for a couple of years. Gopal Mukherjee was the last Member (Investigation) who retired in January 2018.

10 Jan 2020
selection-of-member,-finance:-a-curious-case

Selection of Member, Finance: A curious case

By IndianMandarins 13 Jan 2020

For many others it is a puzzle but for many others it is luck as well. The public-sector headhunter on Friday selected K Vinayak Rao (IRAS:1987) for the post of Member (Finance) Airport Authority of India (AAI). Interestingly, Rao was initially not shortlisted for interview. If some well-placed sources are to be believed PESB revised the list on Wednesday and Rao got in. Many things matter for selection but sometime luck matters the most. 

(CLICK TO READ RELATED STORY)

cbdt:-gupta-tipped-as-member,-administration-

CBDT: Gupta tipped as Member, Administration?

By IndianMandarins 10 Jan 2020

If some top sources are to be Satish Kumar Gupta (IRS IT:1984) may be picked up for the post of Member, Central Board of Direct Taxes (CBDT); a post (Member, Administration) which fell vacant after the retirement of Ms Neena Kumar (IRS IT:1982). Presently, Gupta is Principal Chief Commissioner Income Tax (PCCIT), Mumbai Region.

The post, vacant vice Mrs Neena Kumar, was advertised in the second week of November 2019. Interestingly, it is believed CBDT wanted to widen the net for the appointment of members by inviting applications from relatively younger officers in rank of Principal Commissioner and above.

Presently, the posts of Member, Administration and Member Investigation are lying vacant but the later is not on offer as the post appears to have been attached to Chairman, CBDT for a couple of years. Gopal Mukherjee was the last Member (Investigation) who retired in January 2018.

alarming-trend-in-direct-tax-collection:-hitting-the-target-vs-missing-the-bus

Alarming trend in Direct Tax collection: Hitting the target Vs Missing the bus

By IndianMandarins 10 Jan 2020

While re-calibrating and fixing direct taxes collection target for FY 2019-2020 at Rs 13.35 lakh crore, CBDT chief P C Mody had said last year that it was difficult but achievable. But even after the completion of three quarters of FY 2019-2020 the collection figures of Direct Taxes is nowhere close to it.

Indianmandarins has reliably learnt that on completion of third quarter (ending 31.12.2019) the all India collection of Direct Taxes is far less (- 6%) than the collection as compared to the corresponding period last year. The deficit is primarily attributed to the weak performance of metro cities. The down trend may be shown as follows:

Mumbai: (-5%)
Delhi: (-10%)
Bangalore: (-7%)
Chennai: (-2%)
Jaipur: (-20%)

It is to be seen whether CBDT would be able to hit the target of Rs 13.78 lakh cr or even maintain the previous year’s figure. The collection figures are clear indicator that relatively smaller cities have to play critical role in the wake of weak contributions by metro cities and country's commercial capitals.  


FACTS AND FACETS:

  1. FY 2019-2020: In view of historical growth rate in collections in the past three years FinMin had initially set the at Rs 13.78 lakh crore for FY 2019-20. After Budget deliberations it was re-calibrated and fixed at Rs 13.35 lakh crore.
  2. FY 2018-2019: I-T department had collected Rs 11.37 crore during FY 2018-19 against its initial target of Rs 13.80 lakh crore, a shortfall of around Rs 83,000 crore or 7.4 percent of the Rs 12 lakh crore collection target. The collection was, however, 18.3 percent higher than FY 2017-2018.
  3. The revenue collection targets are set by the Union Finance Ministry in consultation with CBDT which frames policy for the IT Department.
  4. The direct tax collection bucket comprises personal income tax, securities transaction tax and corporate tax.
  5. In 2019 FinMin Nirmala Sitharaman’s move of bringing almost all the companies in the lower tax net was widely appreciated by the business world.

agriculture-ministry-vying-for-control-over-apeda-

Agriculture Ministry vying for control over APEDA?

By IndianMandarins 10 Jan 2020

Indianmandarins has reliably learnt that Union Ministry of Agriculture and Farmers' Welfare has been advocating to bring Agricultural and Processed Food Products Export Development Authority (APEDA) under its ambit. APEDA was established in February 1986 under the APEDA Act passed by Parliament in December, 1985. Presently, it comes under the Ministry of Commerce & Industry. Reportedly, the rounds of consultation between the two ministries are underway and one is not clear whether it would catalyse or not.


niti-aayog-on-renovation-spree

NITI Aayog on renovation spree

By IndianMandarins 19 Dec 2019

If some well placed sources are to be believed, the premier institution carved out for innovative ideas i.e. National Institute for Transforming India (NITI Aayog) is presently on renovation spree. After having a complete makeover of its fifth floor involving an expenditure of approximately Rs 14 crore, it has now decided to transform its fourth floor which is expected to incur an expenditure of around Rs 15-18 crore. Reportedly, the work has already been assigned to CPWD. In addition, it is under talks with Central Warehousing Corporation (CWC) for hiring its warehouse where scarps would be dumped and later auctioned.

It may be underlined that NITI Aayog has recently added a world-class infrastructure on its fifth floor with an unmatched quality work-space. When Indianmandarins talked to a few top officials one of them responded that probably the idea of renovation would have emanated from the catch line of an advertisement ‘Life Me Ho Aram To Ideas Aate Hain’ (Ideas come when you are in comfort). NITI Aayog has been trying to make a mark for its innovative thinking and ideas. 

it-settlement-commission:-over-a-dozen-of-member-post-vacant,-acc’s-call-awaited

IT Settlement Commission: Over a dozen of member post vacant, ACC’s call awaited

By IndianMandarins 16 Dec 2019

If some top sources are to be believed the ACC is expected to clear the proposal for appointment to the post of members in the additional benches of Income Tax Settlement Commission.

Reportedly, the strength of Income Tax Settlement Commission has depleted at the top amid a dozen of Member post lying vacant. In addition, another two posts of Member is all set to fall vacant January next year.

Three posts are lying vacant in Kolkata Additional Bench, one each in Mumbai and Chennai Bench and six posts vacant in Delhi. Further, altogether two posts are all set to fall vacant in January 2020 i.e. one each in Mumbai and Delhi Bench.

It may be underlined that IT Settlement Commission consists of one Chairman and two Members in the Principal Bench in New Delhi and one Vice Chairman and two Members in each of the four Additional Benches; Mumbai, Kolkata, Chennai & Delhi.

The Settlement Commission is a statutory body and deals with the settlement applications filed by the assesses under the Income-tax Act, 1961 and the Wealth-tax Act, 1957. As per the provisions, an assessee can approach the Settlement Commission at any stage of the proceedings for assessment pending before an Assessing Officer, subject to certain prescribed conditions. Further, where the application relates to income tax, the additional tax payable on the income disclosed in the application must be more than Rs. 3.00 lakh.

it-settlement-commission:-over-a-dozen-of-member-post-vacant,-acc’s-call-awaited

IT Settlement Commission: Over a dozen of member post vacant, ACC’s call awaited

By IndianMandarins 16 Dec 2019

If some top sources are to be believed the ACC is expected to clear the proposal for appointment to the post of members in the additional benches of Income Tax Settlement Commission.

Reportedly, the strength of Income Tax Settlement Commission has depleted at the top amid a dozen of Member post lying vacant. In addition, another two posts of Member is all set to fall vacant January next year.

Three posts are lying vacant in Kolkata Additional Bench, one each in Mumbai and Chennai Bench and six posts vacant in Delhi. Further, altogether two posts are all set to fall vacant in January 2020 i.e. one each in Mumbai and Delhi Bench.

It may be underlined that IT Settlement Commission consists of one Chairman and two Members in the Principal Bench in New Delhi and one Vice Chairman and two Members in each of the four Additional Benches; Mumbai, Kolkata, Chennai & Delhi.

The Settlement Commission is a statutory body and deals with the settlement applications filed by the assesses under the Income-tax Act, 1961 and the Wealth-tax Act, 1957. As per the provisions, an assessee can approach the Settlement Commission at any stage of the proceedings for assessment pending before an Assessing Officer, subject to certain prescribed conditions. Further, where the application relates to income tax, the additional tax payable on the income disclosed in the application must be more than Rs. 3.00 lakh.

cbic:-16-officers-empanelled-for-principal-cc-&-pdg-rank-posts

CBIC: 16 officers empanelled for Principal CC & PDG rank posts

By IndianMandarins 14 Dec 2019

The NaMo administration cleared the much awaited empanelment of sixteen IRS officers for holding Principal Chief Commissioner & Principal Director General level (Apex level) posts in Custom and Central Excise in the Indian Revenue Service. Of sixteen seven officers are from 1986 batch (IRS C&CE) and nine are from 1987 batch. They are;

  1. Syed Haider Hasan (IRS C&CE:1986)
  2. Rakesh Kumar Sharma (IRS C&CE:1986)
  3. Kailash Chand Gupta (IRS C&CE:1986)
  4. Sungita Sharma (IRS C&CE:1986)
  5. Reena Arya (IRS C&CE:1986)
  6. Om Prakash Dadhich (IRS C&CE:1986)
  7. Ranjan Kumar Sahoo (IRS C&CE:1986)
  8. Sandeep Kumar (IRS C&CE:1987)
  9. Baruah Sailaja Ray (IRS C&CE:1987)
  10. Jayant Kumar Jha (IRS C&CE:1987)
  11. Himanshu Gupta (IRS C&CE:1987)
  12. Vasa Sesha Giri Rao (IRS C&CE:1987)
  13. Anil Kumar Jain (IRS C&CE:1987)
  14. Balesh Kumar (IRS C&CE:1987)
  15. Suchitra Sharma (IRS C&CE:1987)
  16. Manoj Krishna (IRS C&CE:1987)

Interestingly, Syed Haider Hasan and Kailash Chand Gupta retired in June 2019. Reena Arya, Vasa Sesha Giri Rao and Ranjan Kumar Sahoo will be retiring July, August and November next year respectively.

Among the empanelled ones Sungita Sharma, Baruah Sailaja Ray and Suchitra Sharma will have the longest term as they will be retiring in January, February and July 2023 respectively. 

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Indianmandarins.com, an initiative of New Media Network, is a multi-media initiative for the fast and real-time dissemination of news and information related to civil services, central PSUs and other institutions that play a critical role in governance, administration, corporate governance, and public life in India. We aspire to provide our esteemed readers with news breaks and situation analysis in the above-mentioned domain of operations. Currently, we are available at www.indianmandarins.com. We are now planning to branch off into print publication and few other related business initiatives.

Indianmandarins.com, an initiative of New Media Network, is a multi-media initiative for the fast and real-time dissemination of news and information related to civil services, central PSUs and other institutions that play a critical role in governance, administration, corporate governance, and public life in India. We aspire to provide our esteemed readers with news breaks and situation analysis in the above-mentioned domain of operations. Currently, we are available at www.indianmandarins.com. We are now planning to branch off into print publication and few other related business initiatives.