A 1982-batch Indian Revenue Service (Income Tax cadre) officer, Mody, took over as the Central Board of Direct Taxation (CBDT) chief in February
The tax department has named this new system as 'Project Insight', as it provides a 360-degree profiling and insight into an entities' complete transactions trail
He also said that the government can only think of further "lowering" corporate tax rates once the exemptions and deductions in this sector are phased out
Central Board of Direct Taxes (CBDT) Chairman P C Mody told PTI in an interview that all "legacy issues" related to start-ups will be resolved through a consultative process
In a communication to principal chief commissioners sent on Friday, the CBDT chief said pending cases are a cause of concern and point to a "lackadaisical attitude"
It is understood that the decision to extend the incumbent's term was taken in order to provide continuity as the CBDT is at the forefront of combating black money