Subscribe
Home Blog Page 213

Role and Career of IRS Officers in the Government of India

By
Syskool
-
10
irs

Indian Revenue Service (IRS) is the Central Civil Service of the executive branch of the Government of India under Group A. The most important functions of an IRS Officer is to do collection of revenue for development, security and governance. Indian Revenue Service functions under the Department of Revenue under the Union Ministry of Finance. The Indian Revenue Service Recruitment is done through the Civil Services Examination conducted by Union Public Service Commission every year.

Must Read: Career Path of IAS Officers

Indian Revenue Service Consists of Two Branches:

  • IRS (Customs and Central Excise) is controlled by The Central Board of Excise and Customs (CBEC). CBEC is the national agency which administers Customs, Central Excise & Service Tax in India.
  • IRS (Income Tax) is controlled by Central Board of Direct Taxes(CBDT). CBDT is responsible for administering a number of Direct Tax Acts, namely-
  1. the Income Tax Act 1961,
  2. the Wealth Tax Act 1957,
  3. the Gift Tax Act 1958,
  4. Interest Tax Act 1974,
  5. Securities Transaction Tax Act 2004,
  6. Banking Cash Transaction Tax Act 2005 and
  7. Fringe Benefit Tax Act 2004, etc.

IRS, India’s premier financial agency plays a major role in collection of Direct Taxes (mainly Income Tax & Wealth Tax) in India. It is concerned with the collection of a major part of the total tax revenue in the country. Direct Taxes laws is administered by IRS officers through the Income Tax Department (ITD). The largest department of the Government of India is the Income Tax Department. At the top level, the Central Board of-Direct Taxes (CBDT) constituted under the Central Boards of Revenue Act, 1963 is responsible for administration and supervision of the ITD.

Also Read: Career Path of an IPS Officer

Role of IRS Officers

  • Policy Formulation
  • Tax Administrator – Investigator, quasi -judicial authority and prosecutor
  • Global crusade against black money
  • Serving other Ministries/Departments/Organisations on deputation

Career of IRS Officer

Training

After recruitment for the posts of IRS officers, the new officers have to undergo a 3 month training at Lal Bahadur Shastri National Academy of Administration (Massouri). The premier National Academies of the Government of India is the National Academy of Direct Taxes (NADT), which is located at Nagpur and the IRS officers are mainly trained over here. The Induction training for IRS officers and the Foundation Course are conducted by NADT and also for other services as well.

After the completion of Foundation Course of about 4 months, intensive training of sixteen months starts for IRS officers in specially designed modules in taxation and allied laws, accounting, public finance, fiscal policy, office procedure etc. The training also includes attachment to various field offices/organisations across the country, India study tour and international attachment to different countries giving exposure on global best practices in taxation.

You May Also Love to Read: How to Prepare for Civil Services Aptitude Test (CSAT)? 

Mid-Career Training

To keep abreast with the latest developments in the areas of governance, particularly finance, taxation and management there are various mid-career training programmes for IRS officers. These include the Advanced Mid Career Training (AMCTP) which is conducted’ in 3 phases:

  • Phase-I is for Joint/Additional Commissioners,
  • Phase-II is for Commissioners/Principal Commissioners and
  • Phase-III is for Chief Commissioners/Principal Chief Commissioners.

The AMCTP generally consists of a 3 week domestic module held at premier Management Institutes in the country followed by a 2 week International component internationally acclaimed Universities, depending on their areas of expertise.

You May Also Read: Indian Forest Service – All You Need to Know

Career Prospects at a Glance:

  • An IRS officer starts in Group A as Assistant Commissioner of Income Tax. Group B gazetted (Income Tax Officers) also enter into Indian Revenue Service by the way of promotion.
  • The post of Principal Chief Commissioner of Income Tax in the ITD (Rs.80,000 fixed plus allowances) is the Apex level post of an IRS Officer. At the apex level he can also be selected as a Member or Chairperson of the CBDT. Deputy Commissioner, Joint Commissioner, Additional Commissioner, Commissioner, Principal Commissioner and Chief Commissioner of Income Tax are the intermediate grades in this career progression.
  • The Government of India decided to create a network of Income Tax Overseas Units (ITOUs) with increased scope for international cooperation in the work areas of exchange of information, transfer pricing, and taxation of cross-border transactions. IRS officers also serve in such ITOUs which are part of the Indian Mission at select places abroad besides serving within the country, .
  • Member of the Income Tax Appellate Tribunal, Authority for Advance Ruling, Income Tax Settlement Commission and Income Tax Ombudsman are also eligible to be selected as an IRS officer as per the prescribed eligibility criteria.
  • At different levels, IRS officers serve other Ministries/Departments Organisations under Central Staffing Scheme and other deputations on the lines of officers of All India Services ie; Indian Administrative Service, Indian Police Service & Indian Forest Service and other Central Services.

Don’t Miss: Role of Civil Servants (IAS, IPS, IRS, IFS and IES)

Hierarchy Service of the IRS Officer

Designation Pay Scale
Principal Chief Commissioner of Income Tax Rs. 80,000 (fixed)
Chief Commissioner of Income Tax Rs. 75,500-80,000
Principal Commissioner of Income Tax Rs. 67,000-79,000
Commissioner of Income Tax Rs. 37,400-67,000 + grade pay of Rs. 10,000
Additional Commissioner of Income Tax Rs. 37,400-67,000 + grade pay of Rs. 8,700
Joint Commissioner of Income Tax Rs. 15,600-39,100 + grade pay of Rs. 7,600
Deputy Commissioner of Income Tax Rs. 15,600-39,100 + grade pay of Rs. 6,600
Assistant Commissioner of Income Tax Rs. 15,600-39,100 + grade pay of Rs.5,400

Must Read: How to Crack IAS Exam? 10 Tips for IAS Preparation

All About G-20

By
Syskool
-
5
g-20

G-20 was constituted in 1999 with a view to bring together industrialized and developing economies to discuss major issues in the world economy. It is a Group of Twenty (G-20), Finance Ministers and Central Bank Governors.

G20’s inaugural summit took place in December 1999 in Berlin. It was hosted by the Finance Ministers of Germany and Canada.

Member Countries of G-20

The G-20 comprises the finance ministers and central bank governors of 19 countries: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, and The United States of America. The remaining one seat is occupied by the European Union that is represented by the rotating Council presidency and the European Central Bank.

Read Also: The European Union (EU)

Time of the meeting of G-20

The Finance Ministers and Governors of G-20, adhering to a normal practice, generally meet once a year. However in 2009 and 2010, when the world was going through an acute economic crisis the leaders of G20 met twice in the above-mentioned consecutive years. The last G-20 summit was held in Antalya, Turkey on 15-16 November 2015. The Antalya summit was the tenth edition of the G20 leaders’ meeting. China will host the next G20 summit, the 11th edition, in 2016.

The G-20 member countries, together, represent around 9 % of global GDP, 80 % of global trade and two-thirds or world’s population.

Who chairs the G-20 Meet

Since G-20 has not got the permanent staff of its own, its chair rotates between member countries and is selected from diverse regional groupings on the yearly basis.

The host country of G-20 summit gets the opportunity of setting the agenda and leading the discussion.

When the UK, in 2009, hosted a special spring summit, its the then Prime Minister Gorden Brown successfully clenched a deal in which world leaders agreed to pour in a Financial aid of $ 1.1 trillion in the global economy. The deal was termed “historic” and perceived as a huge success.

Must Read: Analysis of 13th EU-India Summit

Difference between G-20 and G7

The G7 was set up as an informal forum in 1976. It consisted, at the time of its inauguration, of seven major Industrial economies: Canada, France, Germany, Italy, Japan, the United Kingdom and the United States of America. When Russia got the entrance in G7 in 1998, it was re-named G8.

This March G7 voted to suspend Russia in response to Russia’s annexation of Crimea; the annexation was the result of the increasing tension between Russia and Ukraine. However, the suspension, it is said, is designed to be of a temporary nature.

Member possesses equal influence

Since there are no formal votes or resolutions on the basis of fixed economic criteria or voting shares, every member country of G20 has one voice with which it can participate actively in G20 functions.

Also, Read:

Nuclear Security Summit (NSS)

Bali and Copenhagen Summits of UNFCCC (CoP 13 and 15)

Committees on Various Sectors in Economy

By
Syskool
-
0
Committees on Various Sectors in Economy

The Government of India has appointed a number of committees, a small group of officials. Here is the list of Committees on Various Sectors in Economy:

Committees on Various Sectors in Economy

1. A C SHAH : NON BANKING FINANCIAL COMPANY

2. BIMAN JALAN : MARKET INFRASTRUCTURE INSTRNMENTS

3. MALEGAM : FUNCTIONING OF MICRO FINANCE

4. BIRLA : CORPORATE GOVERNANCE
5. KIRITH PARIKH : RATIONALISATION OF PETROLEUM PRODUCTS6. CHATURVEDI : IMRPOVING NATIONAL HIGHWAYS

7. SR HASHIM : URBAN POVERTY

8. ABHIJIT SEN : WHOLESALE PRICE INDEX

9. C RANGARAJAN : SERVICES PRICES INDEX AND FINANCIAL INSTITUTION

10. ABID HUSSAIN : DEVELOPMENT OF CAPITAL MARKETS

11. DAMADORAN : CUSTOMER SERVICE IN BANKS

12. KHANDELWAL : HUMAN RESOURCE IN COMMERCIAL BANKS

13. PATIL : CORPORATE DEBT

14. V K SHARMA : CREDIT TO MARGINAL FARMERS

15. SARANGI : NON PERFORMING ASSETS

16. KHANNA : REGIONAL RURAL BANKS

17. DANTAWALA : LEAD BANK SCHEME

18. GADGIL : FINANCIAL INCLUSION

19. THORAT : DEREGULATION OF SMALL SAVING DEPOSIT RATES

20. DEEPAK MOHANTY : MONETARY SYSTEM IN INDIA

21. RAGHURAM RAJAN : FINANCIAL SECTOR REFORMS

22. NARESH CHANDRA : CIVIL AVIATION

23. RAKESH MOHAN : RAILWAYS

24. KAKODKAR RAIL : SAFETY

25. PITRODA : RAIL MODERNIZATION

Also, Read:

Early Entrepreneurs of India

Central Treaty Organization (CENTO)

Basel Committee

Marie Curie

By
Syskool
-
2
Marie-Curie

Marie Curie grew up in Warsaw, Poland where she was born on November 7, 1867. Her birth name was Maria Sklodowska, but her family called her Manya. Her parents were both teachers. Her dad taught math and physics and her mom was headmistress at a girl’s school. Marie was the youngest of five children.

Growing up the child of two teachers, Marie was taught to read and write early. She was a very bright child and did well in school. She had a sharp memory and worked hard on her studies.

Read Also: 10 Most Inspirational Women on Planet

Tough Times in Poland

As Marie grew older her family came upon tough times. Poland was under the control of Russia at the time. People were not even allowed to read or write anything in the Polish language. Her father lost his job because he was in favor of Polish rule. Then, when Marie was ten, her oldest sister Zofia became sick and died from the disease typhus. Two years later her mother died from tuberculosis. This was a difficult time for the young Marie.

After graduating from high school, Marie wanted to attend a university, but this wasn’t something that young women did in Poland in the 1800s. The university was for men. However, there was a famous university in Paris, France called the Sorbonne that women could attend. Marie did not have the money to go there but agreed to work to help pay for her sister Bronislawa to go to school in France, if she would help Marie after she graduated.

School in France

It took six years, but, after Bronislawa graduated and became a doctor, Marie moved to France and entered the Sorbonne. During the six years, Marie had read a lot of books on math and physics. She knew she wanted to become a scientist.

Marie arrived in France in 1891. In order to fit in, she changed her name from Manya to Marie. Marie lived the life of a poor college student, but she loved every minute of it. She was learning so much. After three years she earned her degree in Physics.

In 1894 Marie met Pierre Curie. Like Marie, he was a scientist and the two of them fell in love. They married a year later and soon had their first child, a daughter named Irene.

Must Read: Who is Who Important Persons in History of World

Marie-Curie

Scientific Discoveries

Marie became fascinated by rays that were recently discovered by scientists Wilhelm Roentgen and Henri Becquerel. Roentgen discovered X-rays and Becquerel had found rays given off by an element called uranium. Marie began to do experiments.
One day Marie was examining a material called pitchblende. She expected there to be a few rays from the uranium in pitchblende, but instead Marie found a lot of rays. She soon realized that there must be a new, undiscovered element in pitchblende.

New Elements

Marie and her husband spent many hours in the science lab investigating pitchblende and the new element. They eventually figured out that there were two new elements in pitchblende. They had discovered two new elements for the periodic table!

Marie named one of the elements polonium after her homeland Poland. She named the other radium because it gave off such strong rays. The Curies came up with the term “radioactivity” to describe elements that emitted strong rays.

Nobel Prizes

In 1903, the Nobel Prize in Physics was awarded to Marie and Pierre Curie as well as Henri Becquerel for their work in radiation. Marie became the first woman to be awarded the prize.

In 1911 Marie won the Nobel Prize in Chemistry for discovering the two elements, polonium, and radium. She was the first person to be awarded two Nobel Prizes. Marie became very famous. Scientists came from around the world to study radioactivity with Marie. Soon doctors found that radiology could help with curing cancer.

World War I

When World War I started Marie learned that doctors could use X-rays to help determine what was wrong with an injured soldier. However, there weren’t enough X-ray machines for every hospital to have one. She came up with the idea that the X-ray machines could move from hospital to hospital in a truck. Marie even helped to train people to run the machines. The trucks became known as petites Curies, meaning “little Curies” and are thought to have helped over 1 million soldiers during the war.

Don’t Miss: People who changed the World

Death

Marie died on July 4, 1934. She died from overexposure to radiation, both from her experiments and from her work with X-ray machines. Today there are lots of safety measures to keep scientists from getting overexposed to the rays.

Facts about Marie Curie

  • Marie became the Professor of Physics at the Sorbonne after her husband died. She was the first woman to hold this position.
  • Marie’s husband Pierre was killed when he was run over by a carriage in Paris in 1906.
  • Marie became good friends with fellow scientist Albert Einstein.
  • Her first daughter, Irene, won a Nobel Prize in Chemistry for her work with aluminum and radiation.
  • Marie had a second daughter named Eve. Eve wrote a biography of her mother’s life.
  • The Curie Institute in Paris, founded by Marie in 1921, is still a major cancer research facility.

Also, Read:

Scientists and Inventors

Greatest Scientists

Famous Scientist Facts

Today in History – 12 March

By
Syskool
-
1
today in history 12 march

today in history 12 march1930

Mahatma Gandhi started Dandi March from Sabarmati Ashram near Ahmedabad to break salt law. This march stretched of 375 km. was covered in 26 days with 78 followers. The whole of India joined the campaign to boycott foreign goods and refused to pay taxes. Khan Abdul Ghafar Khan or Frontier Gandhi started Khudai Kidmatgar movement in the North-West Frontier. The Government went back to its brutal force and about 90,000 people were imprisoned within a year. In Peshawar, the Gharwal regiment refused to shoot a demonstrator. In Nagaland Rani Gaidilita, a 13 year old girl raised the flag against the Britishers and was put into life imprisonment in 1932. Nehru hearing this uttered A day will come when India will remember her and Cherish her. She was released after Independence.

1942

British troops vacate the Andaman in Gulf of Bengal.

1954

Indian National Academy of Letters “Sahitya Academy” inaugurated by Dr. Radhakrishnan.

1967

Indira Gandhi became Prime Minister of India for the second time after winning the General Elections.

1969

Reactor Research Centre established at Kalpakkam. On 18th December 1985, it was renamed as Indira Gandhi Centre for Atomic Research.

1992

A devastating wave of car-bomb explosions killed an estimated 300 people and injured hundreds more today in the large western Indian port city of Bombay. The first blast ripped through the city’s stock exchange building, and minutes later a dozen slightly less powerful explosions rocked the bustling city center. The bomb attacks appeared to have been part of a carefully planned operation.The devices were clearly meant to cause maximum loss of life and damage to property.

1993

Powerful bomb blasts at twelve various places in Mumbai takes 317 lives.

1...212213214...442Page 213 of 442

Subscribe for exclusive content

We have a curated list of the most noteworthy news from all across the globe. With any subscription plan, you get access to exclusive articles that let you stay ahead of the curve.

Subscribe

Copyright Syskool.