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The Income Tax Act, 1961 is the charging statute of income tax in India. It provides for the levy, administration, collection, and recovery of income tax. The Government of India brought a draft statute called the Direct Taxes Code intended to replace the Income Tax Act, 1961 and the Wealth Tax Act, 1957. The bill, however, was later scrapped. [1]
The Income Tax Act, 1961, and the Income Tax Rules, 1962, govern the process of filing Income Tax Returns in India. Form 3CE is a part of this process and is an Audit Report format and is required by Section 44DA. [24] Section 44DA Sub-Section 2 of the Income Tax Act, 1961, and Rule 6GA are specifically related to the use of Form 3CE.
The Income Tax Act, 1961, and the Income Tax Rules, 1962, require citizens to file their tax returns with the Income Tax Department at the end of every financial year and this form is a part of the filing process as specified by the Government of India. The due date for filing return with the Income Tax Department of India is 31 July every year.
The act, which became effective on 1 April 1962, replaced the Indian Income Tax Act, 1922. Current income-tax law is governed by the 1961 act, which has 298 sections and fourteen schedules. [9] The Direct Taxes Code Bill was sponsored in Parliament on 30 August 2010 by the finance minister to replace the Income Tax Act, 1961 and the Wealth Tax ...
P.L. 111-291 Enacted 12/08/10 Claims Resolution Act of 2010; P.L. 111-309 Enacted 12/15/10 Medicare and Medicaid Extenders Act of 2010; P.L. 111-312 Enacted 12/17/10 Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010; P.L. 111-322 Enacted 12/22/10 Continuing Appropriations and Surface Transportation Extensions Act ...
The Income Tax Act, No 58 of 1962 defines a company under South African law. [10] Nearly 3.7 million companies were on the tax register in March 2017 but only 3.1 million in March 2018. Of these only 24.2% reported positive taxable income, while 48.3% reported zero taxable income and 27.4% reported negative taxable income.
Artificial Insemination of Animals Amendment Act, 1962: 57: Fencing Amendment Act, 1962: 58: Income Tax Act, 1962: 59: Stamp Duties Act, 1962: 60: Unemployment Insurance Amendment Act, 1962: 61: Population Registration Amendment Act, 1962: 62: Railways and Harbours Acts Amendment Act, 1962: 63: Bantu Beer Act, 1962 (before 1978) Sorghum Beer ...
Income Tax Act 1976, a Statute of New Zealand; Income Tax Act 1985, an Act governing income taxes in Canada since 1917, with the current version enacted in 1985. The Income-tax Act, 1961, an Act of the Parliament of India; Individual Income Tax Act of 1944, an Act raising income tax in the United States