'Violation Of Conduct Rules': Inquiry On Revenue Officers For Suggesting Super-rich Tax To Fund Covid Fight

'Fifty IRS officers in a report suggested raising the tax rate to 40% for those with income above Rs 1 crore and levy of wealth tax for those with over Rs 5 crore annual income... The CBDT on Sunday said an inquiry is being initiated against 50 IRS officers of the I-T department who have penned an unsolicited report on revenue mobilisation to fund COVID-19 relief measures and made it public without permission. In a statement, the Central Board of Direct Taxes (CBDT), which is the apex policy-making body for direct tax policies, said it has never asked IRS Association or these officers to prepare such a report and no permission was sought by them before making the report public...'