INDIAN REVENUE SERVICE — A CRISP OVERVIEW

 

To begin with, the IRS full form is the Indian Revenue Service. IRS is India’s foremost financial agency, responsible for various economic matters of the nation. The department is concerned with collecting and administering several direct and indirect taxes accruing to the Union of India, including Central Sales tax, foreign exchange, stamp duties, and likewise. It is noteworthy to mention that an Indian Revenue Service or IRS officer is the fourth most recognized officer in India after the IAS, IPS, and IFS posts. So, without further ado, let us look at the various nitty-gritty of the IRS.

ELIGIBILITY CRITERIA TO BECOME AN IRS OFFICER

To enter into the department of the Indian Revenue Service as an officer, you need to clear the Civil Services Examination conducted by UPSC. The eligibility criteria to sit for the examination include –

• Completion of graduation in any course from a recognized institute
• Aspirations should have attained 21 years of age but should be below 30 years.

The most important thing to remember is that being an IRS officer means cracking the incredibly tough Civil Services exams. The pattern of the examination is as follows –

• The Prelims consist of two papers of 200 marks each. Both the papers are objective type and have a duration of two hours each. They can be solved either in Hindi or English
• Candidates who qualify for the Prelims are called for the UPSC Mains. Based on the marks secured in the Mains, candidates are invited for the interview.
• The total marks of the Mains and the interview are combined to produce the final result

CAREER AS AN IRS OFFICER

Being an IRS officer is an incredibly lucrative job with an excellent salary, several allowances and facilities, and dignity. The IRS is a prominent Group A Central Service and has been one of India’s most prestigious departments since it is associated with collecting taxes. At the apex level, the Central Board of Direct Taxes or CBDT is tasked with administering and supervising the Income Tax Department in the Finance Ministry. The CBDT comprises a Chairperson and Members responsible for formulating policies linked to Direct Taxes.

ROLES AND RESPONSIBILITIES OF THE INDIAN REVENUE SERVICE

• Policy Formulation — One of the prime responsibilities of the Indian Revenue Service department is policy formulation changes related to indirect taxes through the Central Board of Direct Taxes.
• War Against Black Money — Curbing the circulation of black money within the economy is another veritable duty of IRS officers. In this regard, they also have to negotiate international agreements with other tax jurisdictions.
• Tax Administration- Levying and collection of taxes is a core function of an IRS officer. They ensure that wilful tax evaders are booked, and the seamless and regular completion of revenue collection continues. Moreover, IRS officers also play the part of investigators and prosecutors.

In conclusion, as we have already discussed, the IRS full form is the Indian Revenue Service. It is a prestigious department of the Indian administration division.

Reference Link(OriginallyPosted: https://eliteias.medium.com/indian-revenue-service-a-crisp-overview-978f9ec0422d