Posted on : 24-07-2010 | By : India Current Affairs | In : Economy
The Income Tax department is celebrating 150 years of income tax in India. The Governor General of India accorded to the bill levying the tax, introduced by James Wilson, the first Finance Member in Council, on 24th July 1860. The 150 years of income tax, spanning 3 centuries, have witnessed tremendous global changes. The Income Tax department has traveled this journey by mobilizing resources, from a meager Rs.1.33 crore in 1860-61 to about Rs.380 thousand crore in 2009-10. These revenues have constituted a vital component in the resources used by the Government of India to lift the people out of abject poverty, disease and misery and propel India into the frontiers of strong and self-reliant nations.
At the close of the first decade of this century, the role of the Income Tax department has radically altered and needs redefining. The department needs to address the rising expectations of taxpayers through innovative use of technology and modern management skills to ensure equity, transparency and efficiency in delivery systems.
Ironically the employees and officers of I.T DEPT. are on agitation demanding filling up of vacant posts in joint commissioner and asst. commissioner level, opposition to outsourcing of central processing centre at bangalore since many wrong errors done by outsourcing are to be ratified by dept. staff. The proposed DIRECT TAX CODE continues to favour the corporate sector by reduction in taxes levied. The number of employees in the last decade have come down by 10000, while the revenue collected has consistently gone up.