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The Ministry of Revenue is a ministry of the Government of Maharashtra. It is responsible for preparing annual plans for the development of Maharashtra state. [1] [2] The ministry is headed by a Cabinet level by Chandrashekhar Bawankule, current minister of revenue.
The Central Board of Direct Taxes (CBDT) is a part of the Department of Revenue, Ministry of Finance. The CBDT provides inputs for the policy and planning of direct taxes in India and is also responsible for the administration of direct tax laws through the IT Department.
A TreasuryDirect account holder can direct the Treasury to deposit all or part of their income tax refund into their account using IRS Form 8888. [6] A person can also instruct their employer to direct deposit an amount from each paycheck into their TreasuryDirect account, which replaced an earlier system where an employee could instruct their ...
The Ministry of Finance is a ministry of the Government of Maharashtra. It is responsible for preparing annual plans for the development of Maharashtra state. [1] [2] The Ministry is headed by a Cabinet level Minister. Ajit Pawar is current Deputy Chief Minister of Maharashtra and Minister of Finance.
Direct tax in the form of an income tax was introduced by Sir James Wilson in India in 1860 to overcome the difficulties created by the Indian Rebellion of 1857. [12] The organisational history of the Income-tax Department, however, starts in the year 1922, when the Income-tax Act [4], 1922 gave, for the first time, a specific nomenclature to various Income-tax authorities.
The total tax in Maharashtra is 45% as entertainment tax, 5% VAT on non theatrical and in addition there is a stamp duty on the agreements entered in Maharashtra. The VAT on theatrical was waived from May 2011 but there is still a past issue from 2005 to 2011 which the government is yet to exempt.
The 3rd Central Pay Commission recommended payment of DA whenever the CPI rose by 8 points over the index of 200 (with base 1960 = 100). The extent of neutralization granted with effect from 1 January 1973 ranged from 100% to 35%. The 4th Central Pay Commission recommended the grant of DA on a 'percentage system' of the basic pay (1986). It ...
Despite all this, it pays huge taxes too, to the national treasury – figuring in the top 50 tax payers consistently. NABARD virtually ploughs back all the profits for development spending. Thus the organisation had developed a huge amount of trust capital in its 3 decades of work with rural communities.