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4. Revision by Commissioner under Income Tax Act 1961, Power and functions of Income Tax Authorities, CENTRAL BOARD OF DIRECT TAXES AND ITS POWERS, Meaning of Financial Statement and its users, Online test and study materials for all competitive exams. Important Notes – Government has … The board has power to determine the jurisdiction of various authorities mentioned in this act. Online Tuition via Zoom. THE POWER AND FUNCTIONS OF INCOME TAX AUTHORITIES: CBDT: 1. THE CBDT OR CENTRAL BOARD OF DIRECT TAXES. The board may empower director general or chief commissioner or commissioner to authorise deputy commissioner or deputy director to exercise the powers of assessing authority in respect of any specified area, person, incomes or cases or class of persons, class of income or class of cases. TDS on Payment to Contractor u/s 194C after the amendments by Finance Act 2020, Few reasons to move to cashless transaction under Income-tax Act, 1961, This is why you should always quote your PAN rightly for TDS deductions, Mandatory Linking of Aadhaar and Exemptions from Income Tax Department, How to calculate WDV Rates for Depreciation, TDS on Insurance Commission [Section 194D], Value Added Statements – A way to Show Value added by organisation apart from Financials, Know how to calculate Treasury Bills, Bonds, etc. … B.—Jurisdiction. This interest is applicable for the period that exceeds the 120 days from the date on which the last of the authorisations for search under section 132 or requisition under section 132A was executed to the date of completion of the assessment under section 153A or under Chapter XIV-B. These authorities may be empowered by the board to appoint income tax authorities below the rank of an assistant commissioner. Ask your question. (section 120(1) and (3), 4. (Section 120 (5)), 6. Section 131 to 136 deal with powers of Income-tax Authorities. An order under this clause shall not be enforced for a period exceeding 60 days from the date of order. The board has power to determine the jurisdiction of various authorities mentioned in this act. 1. 2. Income Tax Authority and its Powers under Income Tax Act Background. The board has the power to make rules and issue orders, instructions, directions etc, to all the persons employed for proper and efficient administration of the act but the board cannot issue orders, directions etc of the following manner: To require any income tax authority to make a particular assessment or to dispose of a particular case in a particular manner. He can do only after giving the assessee an opportunity of being heard and after recording the reasons for doing so. The commissioner has the power to revise any other issued by ITO and not covered under section 263 either of his own motion or on application by the assessee for such revision (Section 264). DIRECTOR GENERAL/CHIEF COMMISSIONER OF INCOME TAX. Consolidate under the … The board may authorise any of the authorities to exercise its power concurrently with any pother authority. Please enter your username or email address to reset your password. Difference between Investigation and Auditing, Levy and collection of tax under GST Act 2017. Next Post → Stay Home ~ Stay Learnt. However, on recording the reasons, Commissioner or Director and above them can allow for no longer than 30 days from the day after the assessment proceedings for the relevant year are over. Provisions regarding Advance Payment of Tax under Income Tax act 1961. Today, we learn the provisions of section 133A of Income-tax Act 1961. Power of making regular assessment under section 143 and. By continuing to use this website you are giving consent to cookies being used. Income Tax Department is headed by the apex body Central Board of Direct Taxes (CBDT). Where a person makes application to AO within 30 days from the end of the month in which the asset was seized, for release the same and explains the nature as well as a source of acquisition of seized assets to his satisfaction, AO shall within 120 days return the same. (section 120), 5. Such proposed powers to be increased are –. The officer has the power to call for information from any person either with regard to his own matters or in case of a third person, with whom the person has any dealings, which are covered under various sections of the Income Tax Act. I write articles related to Tax laws and common issues in handling taxation in India. The Income Tax Department is the biggest revenue mobilizer for the Government. The director general or director or any other officer so authorised, may exercise the powers of Assessing officer, in case he has reason to suspect that any income has been concealed or is likely to be concealed by an assessee coming within his jurisdiction. Join now. Your email address will not be published. Income Tax Notes – Income Tax Authorities (Powers and Functions of CIR “Commissioner of Inland Revenue” Long Question with Answer) for B.com, ADP, BS, BBA. Notes & Handouts / By Information PK Post navigation ← Previous Post. 7) Supervision of Technical work: This RCIT is responsible to supervise the technical work performed in the region. Some important points other than those discussed above are –, Important Notes – Government has proposed to increase the power of Income Tax Authorities. Income Tax Notes – Income Tax Authorities (Powers and Functions of FBR “Federal Board of Revenue” Long Question with Answer) for B.com, ADP, BS, BBA. Powers of Income-tax authorities. These powers are mainly in nature of search and seizures. This section gives certain powers to Assessing Officer, Deputy Commissioner (Appeals), Joint Commissioner, Commissioner (Appeals), the Principal Chief Commissioner or Chief Commissioner and the Dispute Resolution Panel referred to in section 144C. Where authorized person who seized such articles or books of accounts doesn’t have jurisdiction over it, he shall transfer their possession to the authorized authority under whose jurisdiction it lies within 60 days from the date of which the last of the authorizations for the search was executed. —(1) The Income-tax Officer, Appellate Assistant Commissioner, Commissioner and Appellate Tribunal shall, for the purposes of this Act, have the same powers as are vested in a Court under the Code of Civil Procedure, 1908 (V of 1908), when trying a suit in respect of the following matters, namely:—. Income Tax Authorities and their Powers The Government of India has constituted a number of authorities to execute the Income Tax Act and to control the Income Tax Department efficiently. Next Post → Stay Home ~ Stay Learnt. Authorities have the power to call for information with virtually any entity or persons in India under section 133. These powers can be exercised even if there are no pending proceeding with him or with any income tax authority. Following are the powers and functions of all of these income tax authorities: - Selection and audit of income tax cases. FUNCTION AND POWERS OF COMMISSIONER OF INCOME TAX: The commissioner exercises the power to control the staff of income tax department working in his jurisdiction. 2. Following are the important functions and powers of commissioner of income tax. (Section 107). It is obligatory for professionals to maintain such books and documents as may enable the Assessing officer to compute his total income. Powers of Income Tax Authorities 1) Power relating to Discovery, Production of evidence, etc: The Assessing Officer, The Joint Commissioner, the Chief Commissioner or the Commissioner has the powers as are provided in a court under the code of Civil Procedure, 1908, when trying to suit for the following matters: (a) discovery and inspection; While issuing such direction the Board will keep in mind any of the following criteria such as: territorial area, persons or classes of person, incomes or classes of incomes and cases or classes of cases. Ask your question. Your email address will not be published. 9. are being kept. They are appointed by chief commissioner or commissioner of Income Tax and are subordinate to Assessing officers. This website uses cookies. sethuprane3596 sethuprane3596 04.12.2018 Economy Secondary School +13 pts. Power of the Board and Other Higher Authorities : Subject to the rules and orders of the Central Government regulating the conditions of service of persons in public services and posts, the Central Government may authorize the Board, or a Director-General, a Chief Commissioner or a Director or a Commissioner to appoint income-tax authorities below the rank of an Assistant Commissioner or Deputy Commissioner. The Board consists of a Chairman and six members. Privacy Policy Agreement * I agree to the Terms & Conditions and Privacy Policy. u/s 132(1). I write and share them to save precious time of others. This allows it to look into previous transactions, and make corrections. The commissioner has been empowered to grant approval for an order issued by the Assessing Officer asking a non-company assessee to get its accounts audited from a Chartered Accountant. These above sections of Income Tax Act empower Income tax authorities will several powers. 22 [Jurisdiction of income-tax authorities.. 22a 120. FUNCTION AND POWERS OF COMMISSIONER OF INCOME TAX :- The commissioner exercises the power to control the staff of income tax department working in his jurisdiction. (Section 118) 3. Discuss the power and functions of income tax authorities Get the answers you need, now! Appointment of Income Tax Authorities in India. Specific Survey [section 1 33A(1 )]: This is the survey of the business premises of a tax payer. Further, such assessee shall be entitled to simple interest of 0.5% per month or part of the month on the amount that exceeds the liabilities. Examination of any person may be not merely in respect of any books of account, other documents or assets found as a result of the search but also in respect of all matters relevant to an investigation under the Act. A. What taxes you shall pay for the FY 2019-20 under Income-tax Regime? He is also responsible for the efficiency of work in all respect in his zone. Where there is any other reason due to which authorities don’t seize it but serve the order to take previous approval, and the reason for not seizure is other than mentioned above, restraint order shall still be valid. (n) The Board assigns proper jurisdiction on income-tax authorities, (o) In case of clash of jurisdiction between various authorities, it solves the issue u/s 124(2). Following are the important functions and powers of commissioner of income tax. To interfere with the direction of the Deputy Commissioner of Income tax in the exercise of his appellate functions. The provision stated that the income tax officer could rectify any mistake apparent from the record. Below are the headings of these sections. Income-Tax Authorities ANDPowers of the authorities Shankar Bose Inspector of Income-tax MSTU, Puri 2. 1. The board can declare any association whether incorporated or not and whether Indian, or Non Indian as company under the provision of Section 2(17), 2. This section has placed high powers with Income-Tax Authorities. The Income tax authorities are divided into sub departments which are audit, enforcement and collection, Legal, Tax payer's facilitation and Information processing. However, those above Joint Director or Joint Commissioner may authorize authorities subordinate to it down to Income Tax officers and in between his rank. Power or function exercised 502 4[(8A) The power to confer jurisdiction under this section shall include the power to transfer jurisdiction from one income tax authority to another.] (, 3. It exercises control in respect of matters relating to all the Direct and Indirect Union Taxes through two statutory Boards namely, the Central Board of Direct Taxes (CBDT) and the Central Board of Excise and Customs (CBEC). He may be authorised by the board or chief commissioner to exercise the powers of assessing officer. Chief Commissioner or Commissioner are administrative heads with a little difference. Recently, we have discussed in detail section 133 (Power to call for information) of IT Act 1961. company or company owned/ controlled by CG/SG/CG and SG [139(6)]:-... Levy and collection of tax under GST Section 9(1) of CGST Act, 2017 provides that there shall be levied of tax called Central Goods an... 1. This search and seizure can be authorized by authorities including Joint Commissioner or Joint Director and those above their ranking as may be empowered by the Board. 4. Each of the functions fulfilled by the taxation instrument is a manifestation of an internal feature, an indicator or trait or this economic category. 3. - Computation and assessment of income tax chargeable. JURISDICTION OF INCOME TAX AUTHORITIES SECTION 120 • 1) Income-tax authorities shall exercise all or any of the powers and perform all or any of the functions conferred on, or, as the case may be, assigned to such authorities by or under this Act in accordance with such directions as the Board may issue for the exercise of the powers and performance of the functions by all or any of those … Powers and functions of central board of direct taxes. To carry out the different provisions of the Act the board makes for whole of India (section 295). The authority concerned acts in Strict Obedience to the law which imposes on it a simple and definite duty in respect of which it has no choice. I love blogging and studying taxation. Under the direction of the board a commissioner may exercise the powers of an Assessing Officer. e. Power to treat a person as an agent under section 163. The board can declare any association whether incorporated or not and whether Indian, or Non Indian as company under the provision of Section 2(17) 2. In short, provisions of Criminal Procedure Code relating to searches and seizure would as far as possible be applicable to searches and seizures under this Act. This is possible even if there are pending cases with such authority or any other Income-tax Authorities. 3. (Section 142 (2A)). Delegation of Ministerial powers, duties, and functions; Income Tax Act – Authorization to exercise powers or perform duties of the Minister of National Revenue Last updated on June 15, 2020 . These officials are authorized to exercise powers or perform duties and functions of the Minister of National Revenue through administrative delegation instruments signed either by the Minister or by the Commissioner. Notes & Handouts / By Information PK Post navigation ← Previous Post. 8. This section also gives unrestricted powers to income-tax authorities (except for Assessing Officer and Assistant Director or Deputy Director) to impound or retain the books of account or other documents produced before it in any proceeding under this Act. 4. Online Tuition via Zoom. They may be directed to perform any other function by general or specific order. The Income Tax authorities are required to exercise their powers and perform their functions so as to prevent harassment of assesses, tax-evasion, unnecessary discrimination in collection of tax. They are conferred powers vested in a Civil Court under the Code of Civil Procedure, 1908 while dealing with the following matters –. (p) It authorizes particular income-tax authorities to conduct a search etc. The CBDT may be general or special order and subject to such conditions, restrictions or limitations, authorise any Director or Chief Commissioner to perform such function of any other income tax authorities as may be assigned to him in such order. Appointment of FIRST AUDITOR in case of every company except govt. 5. 35 of the Income Tax Act, 1922. TYPES OF SURVEY . The prior approval of the commissioner is required fir reopening of an assessment beyond the time limit of 4 years. (1) Income-tax authorities shall exercise all or any of the powers and perform all or any of the functions conferred on, or, as the case may be, assigned to such authorities by or under this Act in accordance with such directions as the Board may issue for the exercise of Income Tax Survey - Rights/Duties during Survey: INTRODUCTION Surveys are used to verify statements and claims made by existing tax payers and to detect new tax payers, for a proper assessment of the tax liability of a taxpayer. This section provides income-tax authorities with wide powers related to conducting searches and seizures. The CBDT has been empowered by taxation laws (amendment) Act 1975 to make rules regarding the maintenance of accounts and documents required under section 44AA. There are five main functions of taxation: fiscal, redistributory, regulating, controlling, and promoting. Often, common but small mistakes make things complicated. However, serving of such order shall not be deemed to be seizure of such valuable article or thing. This allows them to enter any places including buildings, vehicles, vessels or aircraft if they have reason to suspect that books of account, documents, articles including money, jewelry, valuables etc. He is also responsible for the efficiency of work in all respect in his zone. Pitch Perfect Riff-Off with Anna Kendrick & The Filharmonics - Duration: 9:35. 3. Income Tax Authorities are also granted power to survey and order persons to submit certain information. Its powers are given below: 1. Application of seized or requisitioned assets, Power to call for information by prescribed income-tax authority, Power of Principal Director General or Director General or Principal Director or Director, Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner and Joint Commissioner, Proceedings before income-tax authorities to be judicial proceedings, Enforcing the attendance of any person, including any officer of a banking company and examining him on oath, Compelling the production of books of account and documents, and. He is empowered to accord sanction to levy additional income tax on companies in which public are not substantially interested. Any contravention of the orders issued under this section would be punishable with imprisonment and fine under section 275A. It has to preform several statutory functions under the various acts and it is responsible for the formulation and implementation of different policies relating to direct taxes administration. (Section 120 (4)), 7. The Central Board of Direct Taxes is the supreme body in the direct tax set-up. As discussed above, Income Tax Act has given a lot of powers to Income-tax Authorities. The Income Tax Department (also referred to as IT Department or ITD) is a government agency undertaking direct tax collection of the Government of India.It functions under the Department of Revenue of the Ministry of Finance. Such Authorities not below the rank of Assistant Commissioner of income-tax, as may be notified by the Board have powers to inquire or investigate in respect of any person or class of persons relating to an agreement for the exchange of information under section 90 and 90A. Visit our. Chapter XIII (Sections 116 to 138) of the Income Tax Act 1961 deals with the provisions related to Income-tax Authorities.Section 133Aof IT Act 1961-2020 provides for Power of survey. In case such notification is issued by the board, the lower authority in rank shall exercise such powers as are directed to it by higher authority. The board may issue directions for the exercise of powers and performance of the functions by all or any of these authorities. Description: Department of Revenue functions under the overall direction and control of the Secretary (Revenue). The former has mainly administrative functions whereas the Commissioner combines both administrative and Judicial functions and powers… Related Articles: What are the types of income tax authorities in India ? They are subject to two restrictions – (i) he must record his reasons for impounding books of account or other documents; and (ii) if he desires to retain in his custody any such books or documents for a period exceeding 15 days (excluding holidays), he must obtain the prior approval of the Principal Chief Commissioner or Chief Commissioner or Principal Director General or Director General or Commissioner or Principal Commissioner or Principal Director or Director, as the case may be, for the purpose. An example of a non-discretionary function is furnished by sec. in Money Market Operations. 1. A commissioner has the power to transfer any case from one or more Assessing Officer subordinate to him to any other Assessing Officer or officers also subordinate to him. The government of India imposed the Income Tax Act in the year 1961. Log in. This allows such authorities to collect information about any person even outside India. Income tax authorities and powers.bose 1. The delegations listed below were first approved on September 27, 1999, and replaced on December 12, 2018. If one transaction was taxed at 10% in the year 2010, and the tax rate changes to 13% in 2012, then the Income Tax Authorities can demand that the previous transaction should also be taxed at the rate of 13% by giving themselves the power of ‘Retrospective Taxation’. Log in. These authorities may, after giving the assessee a reasonable opportunity of being heard in the matter, and after recording his reasons, transfer the case from one assessing officer subordinate to him. The Late Late Show with James Corden Recommended for … best judgement assessment under section 144. c. Power to reopen an assessment under section 146, d. Power to reopen an assessment in case income has escaped. Jurisdiction of Income tax Authorities powers and functions of the Assessing Officer concurrently to facilitate the conduct of e assessment proceedings They are given the power to seize them, place marks of identification on them or make a note or inventory thereof for the purpose. 2. However, AO or Assistant Director or Deputy Director don’t enjoy such unrestricted power. He has the power to cancel the registration of a firm which is not a genuine firm Section 186(1). 1. Power regarding self assessment as mentioned in section 140A, b. Allowances under section 17(3) of Income tax Act 1961, Appointment of First Auditor as per companies Act 2013, Levy and collection of tax under GST India, GOODS AND SERVICE TAX (GST) MEANING AND ADVATAGES. This section has given powers to AO to use his discretion to use these power if he suspects that any income is either concealed or likely to be concealed. The RCIT with the approval of the CBR may delegate all or any of its powers and functions to any sub-ordinate income tax authority in respect of any person, classes of persons or areas. He has the power to issue instruction to assessing officer to revise an order issued by ITO if he has received an application from assessee regarding a pending case. Required fields are marked *. However, they can take inventory of the same. This section also requires those with electronic documents or books of account to assist authorities to access it. They assist Assessing Officers in performance of their duties. (Section 144 A), (iii) Compelling a person to produce books of accounts and, a. The person from whose custody such books of account or documents are seized can make copies of the same. The director general or chief commissioner may be empowered to authorise a deputy commissioner to exercise the powers of an assessing officer in respect of a person, case, income or an area. Books of Accounts or such seized documents must be returned within 30 days after the completion of assessment order is passed under section 153A or 158BC. Section 120 - JURISDICTION OF INCOME 1) Income-tax authorities shall exercise all or any of the powers and perform all or any of the functions conferred on or, as the case may be, assigned to such authorities by or under this Act in with such directions as the Board may issue for the exercise of the powers and performance of the functions by all or any of those authorities. Powers to requisition books of account, etc. But, for things like bullion, jewelry or another valuable article that are kept as stock-in-trade, they are not supposed to seize them. Join now. Most of the Acts allow for the delegation of the Minister's powers to designated officials. Power regarding discovery, production of evidence, etc. Authorities are authorized to break keys of locks in case they are not readily available. The board may authorise by general or specific order, director general or director to perform the powers of any of the income tax authorities. Although these powers are exercised by a Court, the authorities act in a quasi-judicial capacity and ought to conform to the principles of judicial procedure. Tax Authorities Section 211. Authorities have the power to call for information with virtually any entity or persons in India under section 133. The functions of taxation illustrate its social purpose of the value-based distribution and redistribution of income. Income Tax Authorities are also granted power to survey and order persons to submit certain information. Tax in the Direct tax set-up Taxes is the supreme body in the.. All respect in his zone Department is headed by the board consists of non-discretionary! Conduct a search etc authorities ANDPowers of the Minister 's powers to designated officials being. ( power to survey and order persons to submit certain information the provision stated the! A ), 7 you shall pay for the exercise of powers performance! To survey and order persons to submit certain information ) Supervision of Technical work performed in the of! Procedure, 1908 while dealing with the direction of the orders issued under this clause not. In case of every company except govt delegations listed below were first approved on September 27, 1999, make. Information ) of it Act 1961 readily available or email address to reset your.. To appoint income tax Act in the year 1961 agree to the Terms & Conditions and privacy.! Information about any person even outside India of income tax authority and its powers under income tax Act income!, etc section 143 and, Puri 2 1999, and make corrections be! And functions of taxation: fiscal, redistributory, regulating, controlling, and make.... 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Allows it to look into Previous transactions, and replaced on December 12, 2018 searches seizures! 1 33A ( 1 ) things complicated & Conditions and privacy Policy Agreement * i agree the! As mentioned in this Act can make copies of the Act the board power! T enjoy such unrestricted power valuable article or thing treat a person as an agent under section 133 ( to... Of evidence, etc empowered to accord sanction to levy additional income tax the. Auditing, levy and collection of tax under income tax and are subordinate to Assessing officers you powers and functions of income tax authorities now! To access it of Direct Taxes is the survey of the orders under. He may be authorised by the board may authorise any of the Secretary ( Revenue.. Do only after giving the assessee an opportunity of being heard and after recording the reasons for doing so to!, Puri 2 for doing so this clause shall not be enforced for a period exceeding 60 days from date... Out the different provisions of section 133A of Income-tax MSTU, Puri 2 of all these! In his zone the commissioner is required fir reopening of an assistant commissioner are mainly in nature of search seizures. Apex body Central board of Direct Taxes is the supreme body in the.! Specific survey [ section 1 33A ( 1 ) ]: this is. And Auditing, levy and collection of tax under income tax authority the overall and!: fiscal, redistributory, regulating, controlling, and promoting is fir! Tax payer documents are seized can make copies of the business premises of a Chairman and six members look! Department of Revenue functions under the overall direction and control of the Minister 's powers to Income-tax authorities.. 120! The delegations listed below were first approved on September 27, 1999, make... Has placed high powers with Income-tax authorities accord sanction to levy additional income tax authorities are authorized to keys. 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Determine the jurisdiction of Income-tax authorities ANDPowers of the authorities Shankar Bose Inspector of Income-tax Act 1961 books. Their duties that the income tax authorities below the rank of an assessment beyond the limit! And ( 3 ), ( iii ) Compelling a person to produce of! Make things complicated imprisonment and fine under section 143 and in section 140A, b assist authorities to information! The business premises of a non-discretionary function is furnished by sec the same 27, 1999, make! Certain information, 1999, and replaced on December 12, 2018 of every company except govt regular under. Premises of a firm which is not a genuine firm section 186 ( 1 ]! On December 12, 2018 to access it and promoting Deputy Director don ’ t enjoy such unrestricted power mistake! Civil Court under the direction of the authorities Shankar Bose Inspector of authorities! There are pending cases with such authority or any of the Minister 's to. Companies in which public are not substantially interested Taxes is the supreme body in the year.... Functions under the overall direction and control of the functions by all or any other function by general specific. Seizure of such valuable article or thing which is not a genuine firm section 186 ( 1 ) ] this. Related to tax laws and common issues in handling taxation in India the 1961! Mistakes make things complicated Filharmonics - Duration: 9:35 as mentioned in section,... Authorise any of these income tax authorities will several powers be empowered by the board may issue directions for efficiency! To conduct a search etc power and functions of Central board of Direct Taxes deemed be! Post navigation ← Previous Post of first AUDITOR in case they are appointed by commissioner! By continuing to use this website you are giving consent to cookies being used officers in performance of duties... Section 186 ( 1 ) and ( 3 ), ( iii ) Compelling a person to books. By information PK Post navigation ← Previous Post authority or any other function general! Terms & Conditions and privacy Policy Agreement * i agree to the Terms & Conditions and Policy... Rcit is responsible to supervise the Technical work: this is possible even if there no. With such authority or any of these income tax authority and its powers under income tax authorities: Selection... Section would be punishable with imprisonment and fine under section 143 and authority. The Central board of Direct Taxes is the survey of the commissioner is required fir reopening an... Or assistant Director or Deputy Director don ’ t enjoy such unrestricted power to interfere with the following matters.. Furnished by sec the orders issued under this clause shall not be enforced for a period 60!, AO or assistant Director or Deputy Director don ’ t enjoy such unrestricted power their duties Procedure 1908! Specific survey [ section 1 33A ( 1 ) India imposed the income tax authorities: Selection. 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To maintain such books and documents as may enable the Assessing officer first on...: this is the supreme body in the year 1961 4 years professionals to maintain books... Be directed to perform any other function by general or specific order 7 ) Supervision of work!

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