CBDT Chairman Nitin Gupta Receives 9-Month Tenure Extension

The Union government has given a nine-month extension to CBDT Chairperson Nitin Gupta on the day he was set to retire. The extension in service “on contract basis”, said a circular by the Government of India dated September 31. A 1986-batch Indian Revenue Service (IRS) officer from the Income-tax department, Nitin Gupta assumed the position of Central Board of Direct Taxes (CBDT) head in June last year. 

“The Appointments Committee of the Cabinet has approved the re-appointment of Nitin Gupta as Chairman, Central Board of Direct Taxes (CBDT), with effect from 01.10.2023 till 30.06.2024, or until further orders, whichever is earlier, in relaxation of the Recruitment Rules, on usual terms and conditions applicable to re-employed Central Government officers,” the government order said. 

Nitin Gupta’s tenure as CBDT chairman saw high tax collections. In the fiscal year FY23, the CBDT achieved net direct tax collections of Rs 16.61 lakh crore, reflecting a remarkable growth of 17.63 per cent compared to the previous fiscal year’s Rs 14.12 lakh crore.

For the FY23 financial year, the budgeted estimates (BE) for direct taxes were initially set at Rs 14.20 lakh crore but were subsequently revised, with the Revised Estimates (RE) reaching Rs 16.50 lakh crore.

Notably, the net direct tax collections, after accounting for refunds, have surpassed the budgeted estimates (BE) by Rs 2.41 lakh crore, constituting a significant 16.97 per cent surplus. Additionally, they have exceeded the Revised Estimates (RE) by a modest 0.69 per cent.

Moreover, the gross collections from direct taxes for FY23 amounted to Rs 19.68 lakh crore, a substantial increase compared to the Rs 16.36 lakh crore collected in FY22, reflecting a year-on-year growth of 20.33 per cent.

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Source from: https://news.abplive.com/business/cbdt-chairman-nitin-gupta-receives-9-month-tenure-extension-1632990

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