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The National Academy of Direct Taxes (NADT) is the apex civil service training institution of the Indian Revenue Service and the Income Tax Department of the Government of India. Over the years, it has enhanced and embellished national interest by moulding human capital fortunes and functioning as a ‘best-interests’ think-tank in tax policy ...
Income Tax Overseas Units have been set up designating IRS officers as diplomats in the rank of First Secretary in various missions and consulates of India abroad to look into tax evasion and compliance matters which enables them to work in the place of Indian Foreign Service officers abroad.
In the 2010s, almost every year the Income Tax Department demanded the 'outstanding income tax' from the BCCI (see details - Tax payment). Frequently till 2012, the board got exemptions for tax under the IT Act 1961 (section 11) but later Income tax department declared BCCI's earnings as commercial and listed them as business incomes. [157]
India has a three-tier tax structure, wherein the constitution empowers the union government to levy income tax, tax on capital transactions (wealth tax, inheritance tax), sales tax, service tax, customs and excise duties and the state governments to levy sales tax on intrastate sale of goods, taxon entertainment and professions, excise duties ...
Subhadra Yojana Official Website Subhadra Yojana (introduced 17 September 2024) is a women-centric welfare scheme launched by the Government of Odisha aiming on empowering women aged 21 to 60 years by providing direct financial assistance.
This information is used by the employee when they complete their individual tax return using Form 1040. [3] When an employee prepares their individual tax return for a tax year, the withholding amount from Form W-2 is subtracted from the tax due. It is possible to receive a refund from the IRS if more income was withheld than necessary. [3]
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 Home Secretary (IAST: Gṛiha Sachiva गृह सचिव) is the administrative head of the Ministry of Home Affairs.This post is held by a very senior IAS officer of the rank of Secretary to Government of India.