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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 India. It functions under the Department of Revenue of the Ministry of Finance. The Income Tax Department is headed by the apex body Central Board of Direct Taxes (CBDT).
Income tax is a key source of government funding. The Income Tax Department is the central government's largest revenue generator; total tax revenue increased from ₹1,392.26 billion (US$17 billion) in 1997–98 to ₹5,889.09 billion (US$74 billion) in 2007–08.
The Indian Revenue Service (Income Tax) ( IAST: Bhāratīya Rājasva Sevā ), often abbreviated as IRS (IT), is the administrative revenue service of the Government of India. As a Central Service, it functions under the Department of Revenue of the Ministry of Finance and is under the administrative direction of the Revenue Secretary and the ...
Foreign relations. India portal. Other countries. v. t. e. The Indian Revenue Service ( IAST: Bhāratīya Rājasva Sevā ), often abbreviated as IRS, is a civil service that is primarily responsible for collecting and administering direct and indirect taxes.
Ranks of the Income Tax Department. Position / pay grade in the Government of India. Level and rank according to section 116 of Income Tax 1961 (2023) Equivalent position or designation in Government of India. Order of precedence. (as per presidential order) 1. Inspectors of Income Tax. Assistant Section Officer.
Income tax return is the form in which assesses file information about his/her income and tax thereon to Income Tax Department. Various forms are ITR 1, ITR 2, ITR 3 , ITR 4, ITR 5, ITR 6 and ITR 7. When you file a belated return, you are not allowed to carry forward certain losses.
Head of the Civil Services. Cabinet Secretary. Current: Shri Rajiv Gauba IAS. The Income Tax Service, Group 'B' ( Hindi: आयकर सेवा, ग्रुप 'बी') is the revenue service of the Government of India. It is the feeder service of the premier and elite Indian Revenue Service.
The Income Tax Department of India has a list of forms that are to be used by assessees when filing income tax returns. The Income Tax Act, 1961, and the Income Tax Rules, 1962, lay down the rules related to the use of each of these forms.
The Indian Revenue Service (Customs & Central Excise) ( IAST: Bhāratīya Rājasva Sevā ), often abbreviated to IRS (Customs&CentralExcise) or IRS (Customs&IndirectTaxes), now called IRS (Customs&GST) is a part of central civil service of the Government of India. It functions under the Department of Revenue of the Ministry of Finance and is ...
Tax deduction at source (TDS) is an Indian withholding tax that is a means of collecting tax on income, dividends, or asset sales by requiring the payer (or legal intermediary) to deduct tax due before paying the balance to the payee (and the tax to the revenue authority).