Rule-making power enables the Board to prescribe tax procedures and retrospective rules subject to protection of assessees. The Board, subject to Central Government control, may notify rules to implement the Code nationwide, covering characterization and ascertainment of income ... Summary
Rule-making power enables the Board to prescribe tax procedures and retrospective rules subject to protection of assessees.
The Board, subject to Central Government control, may notify rules to implement the Code nationwide, covering characterization and ascertainment of income and expenditure, procedures for calculating income in specified cases, determination of allowable expenditure, estimation methods for uncertain items, electronic filing and verification requirements, fee and authority designations, interest calculation procedures, and appeal filing processes.
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