Income Tax Acronyms

Acronyms related to Income Tax

It is said that you can escape from any liability but not from Income Tax liability. Further, it is the Income Tax season and it is necessary that each one should know the acronyms related to Income Tax. Get to know all the acronyms of Income Tax in this blog!

Also Read: Do I need to file Income Tax Return?

Income Tax Acronyms: A to M

AIR – Annual Information Return
ACIT – 
Assistant Commissioner of Income Tax
Act – Income Tax Act, 1961
AJP – Artificial Jurisdicial Person
AO – Assessing Officer
AOP – Association of Persons
AIS – Annual Information Statement
AST – Assessment Information System
AY – Assessment Year
BOI – Body of Individuals
BSR – Basic Statistical Return
CA – Chartered Accountant 
CASS – Computer Aided Scrutiny Selection
CBDT – Central Board of Direct Taxes
CCIT – Chief Commissioner of Income Tax
CDSL – Central Depository Services (India) Limited
CIN – Challan Identification Number
CIT – Commissioner of Income Tax
CIT(A) – Commissioner of Income Tax (Appeals)
CPC – Centralized Processing Centre
CSO – Central Statistical Officer
CT – Corporation Tax
DOI – Date of Incorporation
DOB – Date of Birth
DGIT (Systems) – Director General of Income Tax (Systems)
DOR – Department of Revenue
DRP – Dispute Resolution Panel
DSC – Digital Signature Certificate
DT – Direct Taxes
DTAA – Double Tax Avoidance Agreement
e-Pay – Electronic Payment
ECS – Electronic Clearing Service
EVC – Electronic Verification Code
FAQ – Frequently Asked Questions
FC – Flagship Company
FCRA – Foreign Contribution Regulation Act
FY – Financial Year
GDP – Gross Domestic Product
GTR – Gross Tax Receipts
HP – House Property
HUF – Hindu Undivided Family
IT – Income Tax
ITAT – Income Tax Appellate Tribunal
ITBA – Income Tax Business Application
ITD – Income Tax Department
ITO – Income Tax Officer
ITR – Income Tax Return
ITR-V – Income Tax Return Verification
JAVA- Javascript  Object Notation
JCIT – Joint Commissioner of Income Tax
LIC – Life Insurance Corporation
LLP – Limited Liability Partnership
LTCG – Long Term Capital Gain
LTCL – Long Term Capital Loss
MAT – Minimum Alternate Tax
MF – Mutual Funds
MOP – Manual of Office Procedure
MR – Miscellaneous Records

Rest of the Income Tax Acronyms: N to Z

NBFC – Non Banking Financial Corporation
NCLT – National Company Law Tribunal
NMS – Non-filter Management System
NPA – 
Non Performing Asset
NPS – National Pension Scheme
NRI – Non Resident Indian
NSDL – National Security Depository Limited
OTP – One Time Password
PAC – Public Accounts Committee
PAN – Permanent Account Number
PIL – Public Interest Litigation
P/L A/c – Profit & Loss Account
POA – Power of Attorney
Pr. CCA – Principal Chief Controller of Accounts
Pr. CCIT – Principal Chief Commissioner of Income Tax
QR – Quick Response
RPT – Related Party Transactions
ROC – Registrar of Companies
Rules – Income Tax Rules, 1962
SFT – Statement of Financial Transaction
TAN – Tax Deduction Account Number
TCS – Tax Collected at Source
TDS – Tax Deducted at Source
TP – Transfer Pricing
TPO – Transfer Pricing Officer
TRACES – TDS Reconciliation, Analysis and Correction Enabling System
UM – User Manual
UIDAI – Unique Identification Authority of India
USB – Universal Serial Bus
XML – Extensible Marup Language

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2 thoughts on “Acronyms related to Income Tax”

  1. Pingback: Special Allowances under Income Tax | TaxHelpdesk

  2. Pingback: Income Tax Slab rates For Individuals under the Old and New Tax Regime | TaxHelpdesk

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