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The New Tax Regime is a scheme of Income tax in India first proposed in Union Budget 2020–21. [1] Subsequent Budget of FY2021-22 did not see any major announcements in this regime. [ 2 ] During the Budget 2022–23, reports emerged that New Tax Regime was getting poor response [ 3 ] and Government is considering to make it more attractive ...
The tax came into effect from 1 July 2017 through the implementation of the One Hundred and First Amendment of the Constitution of India by the Indian government. The GST replaced existing multiple taxes levied by the central and state governments. It an indirect tax (or consumption tax) used on the supply of goods and services. It is a ...
However, between April 2020 and December 2020, all executive and legislative functions were exercised by a principal secretary acting on behalf of the Governor of Assam. [11] In April 2020, Siddharth Singh has been appointed as the Principal Secretary of Bodoland Territorial Council, [ 12 ] while Rajesh Prasad was posted as the administrator.
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 ...
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 other 6 districts curved out of Assam; Jayantia, Garo and Khasi were combined and became Meghalya State; Lushiai hills became Mizoram; Naga hills became Nagaland; NEFA became Arunachal Pradesh; the both princely states Tripura and Manipur included in Assam and later separated as state and Koch Bihar became part of West Bengal.
In 2017, a Public Interest Litigation (PIL/9/2017) titled Ratan Terang and 17 Ors Vs.The State of Assam and 8 Ors., was filed in the Gauhati High Court where the petitioners brought to the attention of the court that the elections in the Election District Council are being conducted under the Rules of 1951 and under Rule 128 (4)(b) of the said ...
Profession tax is the tax levied and collected by the state governments in India. It is a direct tax. It is a direct tax. A person earning an income from salary or anyone practicing a profession such as chartered accountant, company secretary, cost accountant, Software Engineer, lawyer, doctor etc. are required to pay this professional tax.