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The Central Board of Direct Taxes (CBDT) is a statutory body under the Department of Revenue, Ministry of Finance, Government of India. It oversees the administration of direct taxes, including income tax and corporate tax, through the Income Tax Department. The CBDT was constituted in 1964 under the Central Board of Revenue Act, 1963.
An Act to make provisions to deal with the problem of the Black money that is undisclosed foreign income and assets, the procedure for dealing with such income and assets and to provide for imposition of tax on any undisclosed foreign income and asset held outside India and for matters connected therewith or incidental thereto.
10% 194LA: Compensation on acquisition of certain immovable property ₹250,000: 10% 194LB: Interest paid by Infrastructure Development Fund under section 10(47) to non-resident or foreign company – 5% 194LC: Interest paid by Indian company or business trust on money borrowed in foreign currency under a loan agreement or long-term bonds – 5 ...
The Chairperson, Central Board of Direct Taxes (CBDT) is the senior-most IRS (IT) civil servant in the Government of India. The Chairperson of Central Board of Direct Taxes (CBDT) is the Special Secretary to the Government of India and also cadre controlling authority of the Indian Revenue Service (Income Tax) .
The CBDT provides inputs for the policy and planning of direct taxes in India and is also responsible for the administration of direct tax laws through the IT Department. The CBDT is a statutory authority functioning under the Central Board of Revenue Act, 1963.
The current average rate for a 30-year fixed mortgage is 7.03% for purchase and 7.07% for refinance — up 10 basis points from 6.93% for purchase and 11 basis points from 6.96% for refinance ...
The Ministry of Finance (IAST: Vitta Maṃtrālaya) is a ministry within the Government of India concerned with the economy of India, serving as the Treasury of India.In particular, it concerns itself with taxation, financial legislation, financial institutions, capital markets, currency regulation, banking service, centre and state finances, and the Union Budget.
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.