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Public Holidays in India also known as Government Holidays colloquially, consist of a variety of cultural, nationalistic, and religious holidays that are legislated in India at the union or state levels. Being a culturally diverse country, there are many festivals celebrated in various regions across the country.
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 ...
The Union of India is a federal union made up of 28 states and 8 union territories. India achieved independence from British rule on 15 August 1947 and became a republic on 26 January 1950. Many states celebrate a state day to mark its formation, statehood, reorganisation or other associated events while some like Assam and Bengal celebrate it ...
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 ...
The Income Tax Department (also referred to as IT Department; abbreviated as ITD) is a government agency undertaking direct tax collection of the government of the Republic of India. It functions under the Department of Revenue of the Ministry of Finance. [5] The Income Tax Department is headed by the apex body Central Board of Direct Taxes (CBDT
Telangana is one of the fastest-growing states in India posing average annual growth rate of 13.90% over the last five years. [6] Telangana's nominal gross state domestic product for the year 2023-24 stands at ₹15.2 lakh crore (US$180 billion). Service sector is the largest contributor to the Telangana's economy with a share of about 65% in ...
A sales tax-free holiday is a limited-time period where a state allows sales tax to be eliminated or reduced on categories of consumer products. ... 2023 / July 1-June 30, 2024 / July 25-August 7 ...
The tax is collected by the Income Tax Department for the central government. Farmers - who constitute 70% of the Indian workforce - are generally excluded from paying income tax in India. Income tax returns are due in India generally on 31 July, 30 September or 30 November, depending on the category of taxpayer.