Ads
related to: revenue services kerala govt income tax forms for seniors
Search results
Results From The WOW.Com Content Network
Direct tax in the form of an income tax was introduced by the British in India in 1860 to overcome the difficulties created by the Indian Rebellion of 1857. [5] The organizational history of the Income-tax Department, however, starts in the year 1922, when the Income-tax Act, 1922 gave, for the first time, a specific nomenclature to various Income-tax authorities.
The Department of Revenue and Land Survey is a government department under Government of Kerala that manages all government owned lands and decides land use policies in the Indian state of Kerala. The department is also a government agency, deriving various taxes on land, as well as lease amounts from various government lands, which are ...
The Income Tax Service was established in 1944 and was subsequently re-constituted as the Indian Revenue Service (Income Tax) in 1953. In 1963, given the increasingly complex roles and responsibilities of administering direct tax in India, the Central Board of Direct Taxes was constituted as a statutory body under the Central Board of Revenue ...
These computerization initiatives have freed up the human resources in the department which are largely responsible for higher revenue collections. Income Tax Ombudsmen has been created in 2006 and is functional at 12 cities to look into tax related grievances of the public. [27]
(The Secretariat later came to be known as ‘Government Secretariat’, from 25 August 1949, by virtue of Circular no. M3-5412/49/CS). Unlike other Indian states, Revenue functions of Finance department is separated from the department and maintained as an independent department with another senior cabinet ranking minister, heading the portfolio.
Don't overpay on your taxes. ... and then you can only deduct the expenses after they exceed 7.5% of your adjusted gross income. That means if your income for the year is $50,000, you can only ...
FY2021-22 was an uneventful year for the New Tax Regime as no new changes were announced except the relaxation of Income Tax filing for senior citizens over 75 years. [26] The government's tax policy for the near future was clearly outlined which indicated that all tax breaks will be gradually eliminated while maintaining a low tax rate.
The main responsibility of the Income Tax Department is to enforce various direct tax laws, most important among these being the Income-tax Act, 1961, to collect revenue for the government of India. It also enforces other economic laws such as the Benami Transactions (Prohibition) Act, 1988 , [ 6 ] and the Black Money Act, 2015 .