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Income Tax Department. Income tax return is the form in which assesses file information about his/her income and tax thereon to Income Tax Department.Various forms are ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6 and ITR 7.
The various components of Form 3CB are majorly declarations by the chartered accountant or auditing authority who has examined the books of the assessee and declares his findings. [ 22 ] A declaration that the balance sheet for the financial Year as well as the profit and loss account or income and the expenditure account has been examined.
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.
Normal return (§139(1)) – Individuals with an income above ₹ 250,000 (under age 60), ₹ 300,000 (age 60 years to 79 years), or ₹ 500,000 (over 80) must file a return. Due dates vary. A belated return, under §139(4), may be filed before the end of the assessment year.
In December 2016, over ₹4 crore in new ₹2000 notes were seized from four persons in Bangalore, [39] [40] [41] ₹33 lakh in ₹2000 notes were recovered from Manish Sharma, an expelled BJP leader in West Bengal, [42] [43] and ₹1.5 crore was seized in Goa.
Challan or Chalan is a common Hindi word (चालान, cālān) that has become an Indian English technical word used officially in many professional, especially financial transactions. It usually means an official form or receipt of acknowledgement or other kind of proof document , piece of paperwork, police citation , etc.
ITR may refer to Income tax return (India) Indiana Toll Road; Instrumental temperature record; International Tax Review (ITR) Internet talk radio; Inverted terminal repeat (molecular biology) i-Tree Tools software suite from the .itr file extension; Ittar, a type of perfume
Hinglish refers to the non-standardised Romanised Hindi used online, and especially on social media. In India, Romanised Hindi is the dominant form of expression online. In an analysis of YouTube comments, Palakodety et al., identified that 52% of comments were in Romanised Hindi, 46% in English, and 1% in Devanagari Hindi. [21]