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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 Government of India brought a draft statute called the Direct Taxes Code intended to replace the Income Tax Act, 1961 and the Wealth Tax Act, 1957. [ 1 ] New Income Tax Bill 2025 was presented by the government in the Lok Sabha (Lower house of India) on 13.02.2025, If the bill is approved and passed then it will become an act of law and ...
82. Taxes on income other than agricultural income. Taxation: 83. Duties of customs including export duties. 84. Duties of excise on tobacco and other goods manufactured or produced in India except - (a) alcoholic liquors for human consumption. (b) opium, Indian hemp and other narcotic drugs and narcotics,
The Rights of Persons with Disabilities Act, 2016 is a disability law passed by the Parliament of India to fulfill its obligations under the United Nations Convention on the Rights of Persons with Disabilities, ratified by India in 2007. The Act replaces the Persons with Disabilities (Equal Opportunities, Protection of Rights and Full ...
The number of people with disabilities in India was stated as 21 million in the 2001 Census of India. [2] In the 2011 census, the figure rose by 22.4% to 26.8 million. [3] According to the 2011 census, 20.3% of people with disabilities in India have movement disabilities, 18.9% have hearing impairments, and 18.8% have visual impairments.
The tax is collected by the Income Tax Department for the central government. Farmers - who constitute 70% of the Indian workforce - are generally excluded from paying income tax in India. Income tax returns are due in India generally on 31 July, 30 September or 30 November, depending on the category of taxpayer.
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.
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