Clause 124 - Functions of the Board - Direct Taxes Code Bill, 2009

Functions of the Board 124. (1) Subject to the provisions of this Code, it shall be the duty of the Board to collect revenues in a fair and transparent manner. (2) For the purposes of sub-section (1), the Board shall,- (a) formulate strategies for - (i) effectively and efficiently detecting and penalizing non-compliance with the provisions of this Code; (ii) providing quality taxpayers' service to promote voluntary compliance; (iii) educating taxpayers; (iv) promoting tax literacy; (v) redressal of taxpayers' grievances; and (vi) performing such other functions as may be assigned by the Central Government from time to time to the Income Tax Department; (b) supervise and regulate the functions of the Income-tax Department; (c) call for information and record from any bank or any other authority or Board or corporation established or constituted by or under any Central, State of Provincial Act in respect of any transaction which is under investigation or inquiry by the Board or Income-tax Department; (d) call from or furnish to any such agencies, as may be prescribed by the Central Government, such information as may be considered necessary by the Board for the efficient discharge of its functions; and (e) perform such other functions as may be prescribed.