In which year was the Central Board of Revenue Act in India promulgated?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 1963.
The Central Board of Revenue Act was established in 1963.
Central Board of Revenue Act:
- An Act to provide for the constitution of separate Boards of Revenue for Direct Taxes and for Indirect Taxes and Customs and to amend certain enactments for the purpose of conferring powers and imposing duties on the said Boards.
- Each Board is headed by a Chairman who is also an ex-officio Special Secretary to the Government of India.
- At present, the CBDT has six Members and the CBIC has six Members. The Members are also ex-officio Special Secretaries to the Government of India.