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The Income Tax Department of India clearly specifies the use of this form and lays down the associated rules as to its functions through the Income Tax Act of 1961 and the Income Tax Rules of 1962. Form 2E is part of the process of filing of income tax returns in India. The form is also known as the NAYA SARAL Form or ITS-2E. The Income Tax Act ...
The ITR-2 Form [6] is an important Income Tax Return form used by Indian citizens as well as Non Residents to file their Tax Returns with the Income Tax Department of India. The Income Tax Act, 1961, and the Income Tax Rules, 1962, require citizens to file their tax returns with the Income Tax Department at the end of every financial year and ...
In June 2021, India brought forward to 2025 its target to implement a 20% ethanol-blended auto fuel. India's ethanol blending rate in fuel (at the time of this target revision) is 8%, which is set to increase to 10% by 2022 based on the 'Roadmap for ethanol blending in India 2020-25' released on 5 June (World Environment Day) by Prime Minister ...
Jun.11 -- India Ministry of Petroleum and Natural Gas Secretary Tarun Kapoor discusses India’s plans to cut its dependence on oil imports and how they plan to do it. He speaks exclusively during ...
Retail pricing of neat ethanol so it is competitive if not slightly favorable to the gasoline-ethanol blend; Tax incentives provided during the 1980s to stimulate the purchase of neat ethanol vehicles. [15] Guaranteed purchase and price regulation were ended some years ago, with relatively positive results.
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
India has been playing a prominent role, inter alia, in developing the new global standards on automatic exchange of information which would enable the tax authorities to receive information about taxpayers hiding their money in offshore financial centers and tax havens through multi-layered entities with non-transparent ownership, on an ...