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NBR is the authority for tax policies and tax laws in Bangladesh. [1] [2] NBR collects almost 97% of tax revenue and almost 85% of total revenue for the government of Bangladesh. [3] The Customs, Excise and VAT Appellate Tribunal is a tribunal under the National Board of Revenue established in 1995. [4] [5]
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
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.
If you had to submit an amended tax return this year, you may be wondering how come you haven't received your tax refund yet. Due to IRS staffing shortages and an influx of amended returns, the IRS...
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 process of tax collection is mainly driven through the regime of voluntary compliance in which the tax payers have to pay their taxes as per the mandate of the law, following the procedure laid down including • mandatory filing of returns of income or other specified statements.
Form 10BA is a declaration form that is used by a certain section of assessees while filing income tax returns in India. The form is a declaration by the assessee. The format is specified by the Income Tax Department of India. Form 10BA applies to a certain section of assessees who are required to claim deductions under section 80GG.
The New Tax Regime is a scheme of Income tax in India first proposed in Union Budget 2020–21. [1] Subsequent Budget of FY2021-22 did not see any major announcements in this regime. [ 2 ] During the Budget 2022–23, reports emerged that New Tax Regime was getting poor response [ 3 ] and Government is considering to make it more attractive ...
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