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Income Tax: The Revenue Act of 1861 levied a 3% flat rate income tax on those with an annual income at or exceeding $800 (which was 5.6 times the 1861 nominal gross domestic product per capita of $144.31; the corresponding income in 2021 is $384K). In 1861, only 3% of the population had an annual income of at least $800; as such, the tax ...
The Income Tax Act 1967, in its current form (1 January 2006), consists of 10 Parts containing 156 sections and 9 schedules (including 77 amendments). Part I: Preliminary. Part II: Imposition and General Characteristics of the Tax. Part III: Ascertainment of Chargeable Income. Chapter 1: Preliminary.
20 March 2015. Status: In force. Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 is an Act of the Parliament of India. It aims to curb black money, or undisclosed foreign assets and income and imposes tax and penalty on such income. The Act has been passed by both the Houses of the Parliament.
The Income Tax Act 2007 ( c 3) is an Act of the Parliament of the United Kingdom. It is the primary Act of Parliament concerning income tax paid by individual earners subject to the law of United Kingdom, and mostly replaced the Income and Corporation Taxes Act 1988 .
The Income-tax Act, 1961 is the charging statute of Income Tax in India. It provides for levy, administration, collection and recovery of Income 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. However the bill was later scrapped.
The riot act was read to a mob that had gathered around Bath's Hotel, with mounted police breaking up the unlawful assembly. A three-man miner's delegation met with Rede to present a peace proposal; however, Rede was suspicious of the chartist undercurrent of the anti-mining tax movement and rejected the proposals as being the way forward. [15]
Revenue Act of 1921. The United States Revenue Act of 1921 (ch. 136, 42 Stat. 227, November 23, 1921) was the first Republican tax reduction following their landslide victory in the 1920 federal elections. New Secretary of the Treasury Andrew Mellon argued that significant tax reduction was necessary in order to spur economic expansion and ...
Explore the history and events of different years, from ancient times to the present, in this comprehensive list of years on Wikipedia.