Search results
Results from the WOW.Com Content Network
The tax is to be paid by a registered trader within 40 days. As per the rules, every trader whose annual turnover of purchase and sales of the goods included in the taxable schedule is not less than ₹ 5000 and if the annual turnover of purchase and sales of all the goods is not less than ₹ 1,00,000 (one lakh) is supposed to be registered with the local civic body i.e. municipality.
India has abolished multiple taxes with passage of time and imposed new ones. A few of these taxes include inheritance tax, [5] interest tax, gift tax, wealth tax, etc. Wealth Tax Act, 1957 was repealed in the year 2015. [6] Direct Taxes in India were governed by two major legislations, Income Tax Act, 1961 and Wealth Tax Act, 1957.
The Brihanmumbai Municipal Corporation (BMC), [4] or the Municipal Corporation of Greater Mumbai (MCGM) is the governing civic body of Mumbai, the capital city of Maharashtra. Salman Khan Is Now Brand Ambassador of BMC from 2016. [5] The BMC is India's richest municipal corporation. [6] [7] Its
The payment of the property tax is usually made before mid-October. The tax notice is drawn up in the name of the owner who is the only person liable for the property tax. The precise deadline for paying it varies depending on the method of payment chosen. Exemption from property tax. In certain situations the property tax allows exemptions.
The use of demonetised banknotes was allowed for the payment of municipal and local civic body taxes, leading to a jump in their revenue collections. For example, the Greater Hyderabad Municipal Corporation reported collecting about ₹1.6 billion in cash payments of outstanding and advance taxes within the first four days of demonetisation. [91]
The city of Mumbai, Maharashtra, India, is divided into administrative divisions. Greater Mumbai is the urban agglomeration of 18 million people (the largest in India and one of the six largest in the world) which comes under the Municipal Corporation of Greater Mumbai. The Municipal Corporation of Greater Mumbai employs 140,626 people.
The 19th century saw the establishment of British rule in India. Following the mutiny of 1857, the British government faced an acute financial crisis. To fill up the treasury, the first Income-tax Act was introduced in February 1860 by James Wilson, who became British-India's first finance minister. [11]
Mumbai Metropolitan Region (ISO: Muṁbaī Mahānagara Pradēśa; abbreviated to MMR and previously also known as Greater Bombay Metropolitan Area), [6] [7] is a metropolitan area consisting of Mumbai and its satellite towns in the northern Konkan division of Maharashtra in western India.