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The Income Tax Act, 1961 is the charging statute of income tax in India. It provides for the 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. [1]
The tax is imposed based on the Entry 52 of the State List from the Schedule VII of the Constitution of India which reads; "Taxes on the entry of goods into a local area for consumption, use or sale therein." [24] The tax is to be paid by the trader to the civic bodies and the rules and regulations of these vary amongst different States in ...
Employees' State Insurance Corporation (ESIC), established by ESI Act, is an autonomous organisation under Ministry of Labour and Employment, Government of India.As it is a legal entity, the corporation can raise loans and take measures for discharging such loans with the prior sanction of the central government and it can acquire both movable and immovable property and all incomes from the ...
The Official Languages Act, 1963 which came into effect on 26 January 1965, made provision for the continuation of English as an official language alongside Hindi. [2] In 1968, the official language resolution was passed by the Parliament of India. As per the resolution, the Government of India was obligated to take measures for the development ...
A poll tax, also called a per capita tax, or capitation tax, is a tax that levies a set amount per individual. It is an example of the concept of fixed tax. One of the earliest taxes mentioned in the Bible of a half-shekel per annum from each adult Jew (Ex. 30:11–16) was a form of the poll tax. Poll taxes are administratively cheap because ...
The Constitution of India enacted in 1950 a non-justiciable directive that the State shall, within the limits of its economic capacity, make effective provisions for securing the right to work, to education and to public assistance in cases of unemployment, old-age, sickness & disablement and undeserved want. Accordingly, the last months of ...
Profession tax is the tax levied and collected by the state governments in India. It is a direct tax. 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.
The bill was passed by the Rajya Sabha on 3 August 2016, and the amended bill was passed by the Lok Sabha on 8 August 2016. [ 6 ] The bill, after ratification by the States, received assent from President Pranab Mukherjee on 8 September 2016, [ 7 ] [ 8 ] and was notified in The Gazette of India on the same date.