The Expenditure Accounts of the Central Board of Direct Taxes represent the total picture of receipts and disbursements under Revenue, Capital & Public Accounts Heads in respect of Income Tax Department. The Revenue disbursements reflect the total Expenditure (Charged & Voted). The Revenue Receipts show the total non-tax revenue like interest receipts, license fee CGHS and CGEIS Receipts and so on as also the tax revenue on account of the ’Central Tax Deducted at Source’ from the salary and contractors’ bills. The Capital disbursements show the expenditure incurred on acquisition of immovable properties under Chapter XXC of the Income Tax Act, 1961 (MH 4075), of ready built office accommodation (MH 4059), of ready built flats for Income Tax Employees (MH 4216). The recoveries on account of sale of immovable properties under Chapter XXC of the Income Tax Act, 1961 are also adjusted against the disbursement under M.H. 4075. Hence, only net effect is shown in the Accounts.
While the Statement of Central Transactions of Revenue and Expenditure Accounts of C.B.D.T. are prepared separately, these are put together in the Finance Accounts which depicts balances lying under Debt, Deposit, Suspense & Remittances Heads.
Contingency Fund of India
No advances are being drawn by CBDT from the Contingency Fund of India.
Preparation of Monthly Accounts
The monthly accounts are compiled by the Zonal Accounts Offices on the basis of vouchers and receipt/payment scrolls in compact received from the accredited Bank Branch and Field Pay Units (FPUs). The compiled Accounts are than submitted to the Principal Accounts Office. The Pr.A.O. Office consolidates the Accounts received from all the ZAOs and sends the same to the Office of Controller General of Accounts by all 52 ZAOs through E-lekha.
The Office of Pr.CCA , prepares the Head-wise Appropriation Accounts in respect of ’Grant No. 42-Direct Taxes’. In this Grant, two major heads viz., ’ 2020- Collection of Taxes on Income and Expenditure’ and ’2031 �Collection of Taxes on Wealth Tax, Security Transaction Tax and Other Tax . In the Capital Section three Major Heads viz., ’4075- Capital Outlay on Miscellaneous General Services’, ’4059- Capital Outlay on Public Works’ and ’4216-Capital Outlay on Housing’ are operated.
The Expenditure on collection of various Direct Taxes booked under the Minor Head ’Direction and Administration’, ’Collection Charges -Income - Tax’ and ’Other Expenditure’ below the Major Head ’2020’. At the end of financial year, the total expenditure is proportionately allocated as collection against various categories viz., Income Tax, Corporation Tax, Taxes on Wealth Tax, Security Transaction Tax and Other Tax etc. on the basis of formula assigned by the C.B.D.T. Collection charges relating to Taxes on Wealth, Security Transaction Tax and Other Tax are then deducted from the Major Head ’2020’ and transferred to the Major Head ’2031’.