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  2. Taxation in India - Wikipedia

    en.wikipedia.org/wiki/Taxation_in_India

    India faces more difficulties in proliferating its income tax than a country like China, who subjects 20% of its population, because there is an emphatically low amount of formal wage earners. [27] Even though India's income tax was instituted in 1922 by the British, their tax history explains their high degree of tax delinquency today. [27]

  3. Income tax in India - Wikipedia

    en.wikipedia.org/wiki/Income_tax_in_India

    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 four 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 Act ...

  4. New Tax Regime - Wikipedia

    en.wikipedia.org/wiki/New_Tax_Regime

    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 ...

  5. Goods and Services Tax (India) - Wikipedia

    en.wikipedia.org/wiki/Goods_and_Services_Tax_(India)

    4. Input Tax Credit (ITC) Challenges: While the ITC mechanism aimed to prevent the cascading effect of taxes, businesses faced issues in availing and reconciling ITC due to mismatches in invoices between suppliers and recipients. 5. Multiple Tax Slabs: The GST system introduced different tax rates for various goods and services. This multi ...

  6. The Income-tax Act, 1961 - Wikipedia

    en.wikipedia.org/wiki/The_Income-tax_Act,_1961

    Income Tax Department. The Income-tax Act, 1961 is the charging statute of Income Tax in India. It provides for 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. However the bill ...

  7. Category:Taxation in India - Wikipedia

    en.wikipedia.org/wiki/Category:Taxation_in_India

    Income tax in India (2 C, 17 P) Indian Revenue Service officers (22 P) L. Indian tax legislation (8 P) R. Indian tax resisters (11 P) S. State taxation in India (10 P) T.

  8. Indian Revenue Service (Income Tax) - Wikipedia

    en.wikipedia.org/wiki/Indian_Revenue_Service...

    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.

  9. Category:Income tax in India - Wikipedia

    en.wikipedia.org/wiki/Category:Income_tax_in_India

    Income tax return (India) The Income-tax Act, 1961; Indian tax forms; N. National Judicial Reference System; New Tax Regime; P. Permanent account number;