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The capital gains tax structure has also undergone changes: Short-Term Capital Gains (STCG): The tax rate on short-term capital gains from shares, mutual funds, and real estate has been increased from 15% to 20%. [9] Long-Term Capital Gains (LTCG): The tax rate on long-term capital gains has been set at 12.5%. Additionally, the exemption limit ...
Direct tax in the form of an income tax was introduced by Sir James Wilson in India in 1860 to overcome the difficulties created by the Indian Rebellion of 1857. [12] The organisational history of the Income-tax Department, however, starts in the year 1922, when the Income-tax Act [4], 1922 gave, for the first time, a specific nomenclature to various Income-tax authorities.
The following are ranks of the officers working in the Income Tax Department of Ministry of Finance (India).Officers are appointed from two different recruiting agencies. Gazetted officers are appointed from Indian Revenue Service (Income Tax) of Union Public Service Commission while non-gazetted officers are recruited by Staff Selection Commissio
The American Opportunity Tax Credit (AOTC) is for tax filers and their dependents who studied at least half-time at eligible postsecondary schools and haven’t attended for more than four years.
The Union Public Service Commission (UPSC; ISO: Saṁgha Loka Sevā Āyoga) is a constitutional body tasked with recruiting officers for All India Services and the Central Civil Services (Group A and B) through various standardized examinations. [1] In 2023, 1.3 million applicants competed for just 1,255 positions. [2]
Here’s a look at five other tax credits available in 2024. ... The IRS stated that depending on the adjusted gross income reported on your Form 1040, the amount of the credit will be 50%, 20% or ...
The Gazette of India is a public journal and an authorised legal document of the Government of India. [1] It is published weekly by the Directorate of Printing Department of Publication , a subordinate office of the Ministry of Housing and Urban Affairs and printed by the Government of India Press .
A food safety expert weighs in on flour bugs, also known as weevils, that can infest your pantry after one TikToker found her flour infested with the crawlers.