IRS Full Form is Indian Revenue Service. The Indian Revenue Service operates under the Ministry of Finance, Government of India. It primarily handles the collection and management of income tax and related surcharges in India. The IRS came into existence on September 1, 1961, under the jurisdiction of the Central Board for Direct Taxes, subsequent to the passage of the Income-tax Act, 1961, by the Parliament.
The IRS’s Role:
- Collection
- Management
- Enforcement
- Administration
The Income-tax Act mandates that all persons subject to taxes must file returns with, and pay taxes to, the Indian Revenue Service or a Regional Commissioner as authorized by law.
History of the IRS | IRS Full Form
IRS Full Form is Indian Revenue Service. The Indian Revenue Service is the Government of India’s tax collection agency. It was established on April 1, 1924, as the British Indian Income Tax Department. The department became an independent organization by an Act of Parliament on February 16, 1921.
In 1925, it was renamed the Central Board of Revenue but remained under the control of the Secretary to the Government of India in charge of Finance until 1947, when it became an autonomous body. In 1961-62, it acquired its present name, “Indian Revenue Service.” The mission of the IRS is to administer India’s taxation laws fairly and efficiently, with the motto “faithful, fair, firm.”
Overview of the IRS | IRS Full Form
The IRS is part of Group A in the Central Civil Services, comparable to the Indian Foreign Service, the Foreign and Defense Services of the Indian Armed Forces, and the Andaman and Nicobar Islands Civil Service, which is part of Group B of the Central Civil Services.
Group A is considered the Senior List Civil Services in the country. IRS officers hold ranks equivalent to Joint Secretary and Cabinet Secretary levels in the Government of India. Historically, IRS officers have also held the position of Secretary in the Finance Ministry.
Structure of the IRS
The Indian Revenue Service comprises various subordinate formations. Each of the 14 zones is an independent entity led by a Commissioner of Taxation. The Vice-Chairman of each zone is an Additional Secretary to the Government of India, usually a senior officer of the IAS. Each zone is subdivided into multiple state or union territory branches, headed by a Director-General of Taxation. These branches are further divided into districts, each led by a Superintendent of Taxation.
Central Board of Revenue
“How do you make a good beginning? Take off the heavy coat of ignorance. “Education is not just preparation for life; rather, life itself is preparation for education.” – Mohandas Gandhi.
One of the best-known examples of service to others is Mohandas K. Gandhi, the great leader of the Indian Independence Movement, who served as the Principal of Anand Bharatam University. In 1907, at the age of 30, Gandhi donated his collection of books to the university, making it the first university in Asia to have a collection of its own.
The IRS was established as the Central Tax Department in 1940. The Central Board of Revenue (CBD) was renamed the Central Board of Indirect Taxes and Customs (CBIC) in 2003.
What Does the IRS Do?
The IRS collects tax revenues from all taxpayers by compiling a list of all tax-paying individuals and firms and allocating tax, compliance, investigation, and other service duties to collection agencies. It collects primary tax revenue streams, including corporate tax, personal income tax, general sales tax, and several lesser revenue streams from different central government departments. The IRS plays a vital role in Indian tax administration and in meeting its expenditure.
Each income tax officer (lawyer, collector, and so on) oversees hundreds of officers responsible for enforcing various statutes, processing cases for tax payments, and managing other expenses such as taxes on savings, life insurance premiums, and donations.
Conclusion | IRS Full Form
Eight decades of tax reforms highlight the evolution of the IRS. Significant reforms include the Provisional Allotment, Statutory Amendment Act of 1950, Special Allotment Order, Revenue Division of 1961, Fourth Allotment Order of 1971, Removal of Article 79 from the Constitution, Additional Powers in Taxation Amendment Act of 1967, Special Powers in Taxation Act of 1971, Second Additional Powers in Taxation Act of 1972, and the Federation of India Act of 1937. On August 27, 2017, President Kovind inducted into the Supreme Court of India, in addition to the Chief Justice, five other chief justices of India. The President of India appoints the Chief Justice.