2nd Departmentals

Finally,


Our 2nd Departmentals have commenced. Ironically, when i wrote the last exam (Pub Admn) of my last mains, i declared it everywhere that this was my last exam and i do not have to study anymore. But after entering these Services, i have realized that Study is never gonna stop. Income Tax Personnel needs to study the most. Even after they take up the field postings, they always have to remain updated vis-a-vis various Circulars and Notifications from CBDT (You also have a choice not to study, but at your own risk). 


Hopefully, there are no more exams after these during the course of the training. The Bharat Darshan is also starting from 17th of this month. The postings should come by the end of this month. The Valediction is on 16th April 2012. I just love all of it. 


Cheers..!!

Vodafone case: Supreme Court finally decides that Vodafone cannot be taxed here - Moneylife Personal Finance site and magazine

Vodafone case: Supreme Court finally decides that Vodafone cannot be taxed here - Moneylife Personal Finance site and magazine

My First Survey

Friends,

During my 2nd OJT at Faridabad, we went for a Survey in 4 different groups. Around 8 people were there in each team with Police personnel. We took the entire premises under our control as soon as we reached there. The assesse was a Jeweller. We searched the entire premises and checked the back door, if any. All the mobiles were taken into our custody. The assesse was taken by a shock. He suddenly insisted upon calling up his business partner. However, despite repeated calls, the Partner did not turn up. Then, in general, certain preliminary questions were asked from the assessee viz.

·         Do you trade only in gold ?

·         How much gold stock do you have ?

·         From where do you purchase ?

·         Who’s your CA ?

·         What is your main work ? Sale or Repair ?

Then, I only volunteered for recording the statement of the assesse. We, thereafter began recording the statement with the following questionnaire :

1.       Please identify yourself.

2.       Please give details of your business concerns and sister business.

3.       Please give details of your family  members, who have interest in the firm.

4.       What are the sources of your income ?

5.       Please furnish details of your income tax / details of income tax of firm.

6.       Please give details of any investments made during the FY or in PY.

7.       Please give details of the vehicles owned / issued by business concern.

8.       Please furnish the details of bank accounts.

9.       Please give details of immovable assets held by the business concern.

10.   Any other concerns, if any, operating from this premises.

11.   Do you maintain regular books of a/c ? Where are these kept ?

12.   Furnish details of purchase bills , if any , which have not been entered into books of a/c & goods have been received or yet to be received.

13.   Please produce the goods received for repair (gold, diamond or silver) as on today.

14.   Give details upto the date til which books of a/c have been written.

15.   Do you maintain stock register ?

I, somehow, was not able to stay back till the conclusion of search and left the premises by 10.30pm. Hence, this questionnaire was to be concluded by the ITO present there. The Valuation Officer also showed up. However, he was too late. He did the entire valuation of the stock present in the following format :

S.No.

Metal Used

Description

Gross weight in grams

Net weight approx.

Description of Stone’s set

Approx. weight of stones

Value of stones

Total value

                The valuation was done for following items :

~        Chains

~        Jhumkey

~        Tops

~        Ladies ring

~        Pendants

~        Gents rings

~        Mixed ornaments

~        Baali

~        Mangalasutra

~        Nosepin in diamonds

~        Gents ring and tops in diamond

~        Bracelet and Kangans

~        Gold sets

~        Silver ornaments (Payal, utensils, coins, Mix, Murti)

~        Moti, Pukhraj and Pearls

~        Gold coins

~        Brick piece

This experience of survey u/s 133A was a great learning experience. This shows how much impact and influence does the income tax department have in the public. The surrender and disclosure in this case was to the tune of Rs.40 Lakhs. Similar amount was disclosed in the other 2 cases also but in the 4th case, we managed to have surrender to the tune of Rs.81 Lakhs. These Surveys have a huge deterrent effect in the market. 

People know that they will now have to keep their books in order otherwise the Income Tax people will grab them.

cheers..!!

2nd OJT

Hey,


   Our 2nd On the Job Training have just begun from yesterday. I have opted for Faridabad station. Early in the morning yesterday, we called on the CIT (Faridabad) - Shri R.K.Bajaj, JCIT Range II Gurgaon – Shri Sampoornanand, ACIT(HQ) and OSD Range 1 Faridababd – Shri Parikshit Singh and other officers and staff members. During the day, we also met CIT(A) – Shri Amarveer Singh. We were given an overview of the working of income tax department in Faridabad and Gurgaon region. Various initiatives like Document management solution and CCTV cameras were talked about. The CIT sir happened to be the person under whose leadership the PAN cards got introduced in the country. He told us that they were first conceptualized in 1969. We also discussed certain problems pertaining to ITD software that the department uses.

   In the Office overview, we were shown how the office numbering was done e.g. TN R – 09 means Third floor, North Hall, Room no. – 09. Then various other staff members were introduced to us who gave us a brief about their sphere of working like – Daak receipt and dispatch, PAN transfer, overlooking ITAT and HC orders, CIT(A) orders, drafting, establishment matters etc. The various corners of the office were shown to us. We were also briefed about the administrative difficulties being faced in introducing various changes in the CIT Office. 

 

   The Golf playing and Photography classes have been made compulsory for all of us. I am just loving it.

IRS Leverage: Failure and Success

After the selection in Civil Services examination, the life seems to have changed. We all have an inherent desire to gain an advantage of the position we hold in society. This sudden rise in the position on the ladder of social stratification took some time to sink in. During the UPSC preparation times, nobody used to pay extra attention to our requests. But now, a mere fact that I belong to IRS gets the work done. This success may lead to the evolution of some fatty egos. I, too, was about to join this battalion but was somehow shown the right path by a clerk in the RTO Office.

I was under the impression that me being an IRS Officer is enough to get the things done for myself. But, I was highly mistaken. Interestingly, since long time, the address on my Driving License was wrongly written. I never had the courage to deal with the RTO authorities as I was told that getting a new driving license is easier than getting it altered. Post selection, I paved my way to the RTO Office with my head held high as if a lesser known mortal has turned into a greater known one. I thought of meeting the highest graded officer but no one was found in the office. Then, somehow, I managed to get in touch with the person dealing with the alteration issues. I told him my issue and asked him to do my work instantly. Since an Officer was sitting inside my head, I was assured that the going would not get tough. The person concerned said that he cannot do my work and asked me to come through a proper channel. I got furious. I asked him whether there is no relaxation in the rules for the Officers from Income Tax Department. Then, it was the time for him to get furious. He said, “What has the Income Tax Department done for people like us? Why should we show them the favors?” I was astonished to hear the reply. That was the time when I convinced myself about the fact that there are certain rules also which exist in this country and I’ll gain nothing by entering from the back doors. This was the leverage stint which went down the drain. May be because, I was a new kid on the block.

Few months later, I was travelling by a train from Lucknow to Delhi. This train had an amusing departure time. It was 12.05am. I had booked the ticket myself. When the TT came to check the tickets, he discovered something in my ticket which was very unpleasant for me. The ticket which I had booked was for Saturday – 12.05am. But I had to travel on Sunday – 12.05am. The TT said angrily, “Your train had already left yesterday early morning.” I was in a fix. I told him politely that I belong to IRS and was going to Delhi to attend some felicitation function. His behavior changed dramatically. He suddenly stood up and assured me of his help. He ended up not only giving me a seat to sleep but also didn’t even charge a penny for that. He feared that if he takes money from me, I will lodge his complaint to his boss, and consequently he may get fired. Here, IRS was at work. I didn’t have to do anything in this case. Mere introduction was enough.

Next and most interesting event happened when I was on my way from Lucknow to NADT, Nagpur via road. It was near Sagar in Madhya Pradesh and our car’s petrol tank was about to finish. I asked the localites about the petrol pump and almost everybody pointed to the one nearby as there was none after that till some 50 miles. After reaching the place, I found it closed. In the nearby Dhaba, I thought of doing some investigation. Fortunately, there was Police truck parked in the vicinity. I talked to the Policeman sitting inside it. He was having a laid back attitude and was not in a mood to respond. I gave him my ‘introduction’. Then, inquisitively, he asked, “you must have cleared UPSC ?”. I said, ‘Yes’. He suddenly popped up from his seat and wore his shoes and shouted to the tea man to bring tea for me. I told him my problem. He gave all his assurance to pacify me. Instantly, he called up two beat constables from the nearby Police station and told me that they know where these petrol pump operators sleep during the night. The beat constables took us to that petrol pump, wakened up the sleeping helpers, got our petrol tank fuelled, and then escorted us till the main highway to see us off.

This incidence taught me something very noble. We should always be very polite and humble no matter what designation we hold. Merely getting selected in the Civil Services Examination is not an end in itself. People may not follow or obey you until you are nice to them. The leverage which IRS as a Service has given to me is appreciable. It shows the respect which the service commands in society.

CHEERS…!!!

The Hindu : Today's Paper / OPINION : Rupee's tumble

The Hindu : Today's Paper / OPINION : Rupee's tumble

Back with ideas

Doston,


I always wanted to continue writing and in a way helping the aspirants. Its because of my wife only that i am back again here on the blog. This monday on 19th Dec 2011, i will complete my 1 year of training in National Academy of Direct Taxes (NADT), Nagpur. It feels good to be an Assistant Commissioner of Income Tax. But within my heart, i am the same old person for all my near and dear ones, who have known and seen me in my difficult times. 

You will see more of what i want to share about this service, right here..in the days to come.

affectionate regards,