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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.
Tax deduction at source (TDS) has come into existence with the motive of collecting tax from different sources of income. As per this concept, a person (Payer) who is responsible to make payment of specified nature to any other person (Payee) shall deduct tax at source before making payment to such person (Payee) and remit the same into the account of the Central Government.
NBR is the Authority for Tax Policies and Tax Laws in Bangladesh. [1] [2] NBR collects almost 97% of Tax Revenue and almost 85% of total Revenue for the Government of Bangladesh. [3] The Customs, Excise and VAT Appellate Tribunal is a tribunal under the National Board of Revenue established in 1995. [4] [5]
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 Act, 1961, and the Income Tax Rules, 1962, obligates citizens to file returns with the Income Tax Department at the end of every financial year. [2] These returns should be filed before the specified due date. Every Income Tax Return Form is applicable to a certain section of the Assessees. Only those Forms which are filed by the ...
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
The Chief Commissioner of Income Tax Central, abbreviated as CCIT-C, is the revenue enforcement agency of the Central Board of Direct Taxes, Government of India which assesses tax evasion. It functions under the Department of Revenue in the Union Ministry of Finance and is concerned with the administration, assessment, enforcement and ...
The Principal Chief Commissioner of Income Tax and senior-most Chief Commissioners of Income Tax are promoted into this grade and have additional responsibilities as per personnel and budgetary targets are concerned. [citation needed] Their equivalent rank at the Union Secretariat is that of a Special Secretary. [citation needed]