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Profession tax is the tax levied and collected by the state governments in India. It is a direct tax. A person earning an income from salary or anyone practicing a profession such as chartered accountant, company secretary, cost accountant, Software Engineer, lawyer, doctor etc. are required to pay this professional tax.
Payment and settlement systems are used for financial transactions in India. Covered by the Payment and Settlement Systems Act of 2007 (PSS Act), legislated in December 2007, they are regulated by the Reserve Bank of India (RBI) and the Board for Regulation and Supervision of Payment and Settlement Systems .
The tax came into effect from 1 July 2017 through the implementation of the One Hundred and First Amendment of the Constitution of India by the Indian government. The GST replaced existing multiple taxes levied by the central and state governments. It an indirect tax (or consumption tax) used on the supply of goods and services. It is a ...
Odisha Food Security Scheme (SFSS) 2 October 2018: Food supply and consumer welfare: Social Welfare: In reaction to the 2013 Food Security Act not covering certain groups in Odisha, the government is making their own version. [2] [3] [4] ବିଜୁ ସ୍ବାସ୍ଥ୍ଯ କଲ୍ଯାଣ ଯୋଜନା Biju Swasthya Kalyana Jojana: 15 ...
The Jammu and Kashmir Public Services Guarantee Act, 2011: Notified [19] Odisha: Odisha Right to Public Services Act, 2012: Notified [20] Assam: Assam Right to Public Services Act, 2012: Notified [21] Central Government: Citizen's Charter and Grievance Redressal Bill 2011: Proposed [22] Gujarat: Gujarat (Right of Citizens to Public Services ...
The 1961 act came in to force with effect from 1 April 1962 by replacing the Indian Income Tax Act, 1922, which had remained in operation for 40 years. The present law of income tax is governed by the Income Tax Act, 1961, which has 298 sections and four schedules and is applicable to whole of India, including the state of Jammu and Kashmir. [12]
The existing general sales tax laws were replaced with the Value Added Tax Act (2005) and associated VAT rules. A few states ( Gujarat , Tamil Nadu , Rajasthan , Madhya Pradesh , Chhattisgarh , Jharkhand , Uttarakhand and Uttar Pradesh ) opted to stay out of VAT taxation system during the initial introduction of VAT but adopted it later.
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.