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The Income Tax Department of India clearly specifies the use of this form and lays down the associated rules as to its functions through the Income Tax Act of 1961 and the Income Tax Rules of 1962. Form 2E is part of the process of filing of income tax returns in India. The form is also known as the NAYA SARAL Form or ITS-2E. The Income Tax Act ...
Retail pricing of neat ethanol so it is competitive if not slightly favorable to the gasoline-ethanol blend; Tax incentives provided during the 1980s to stimulate the purchase of neat ethanol vehicles. [15] Guaranteed purchase and price regulation were ended some years ago, with relatively positive results.
Tax compliance software has been present in developed countries for long in the form of tax calculators mainly for direct taxes, such as income tax and corporate tax. Gradually some more complex and customized tax compliance software has been designed and developed by organizations around the globe. Tax compliance software can be divided into ...
In June 2021, India brought forward to 2025 its target to implement a 20% ethanol-blended auto fuel. India's ethanol blending rate in fuel (at the time of this target revision) is 8%, which is set to increase to 10% by 2022 based on the 'Roadmap for ethanol blending in India 2020-25' released on 5 June (World Environment Day) by Prime Minister ...
Jun.11 -- India Ministry of Petroleum and Natural Gas Secretary Tarun Kapoor discusses India’s plans to cut its dependence on oil imports and how they plan to do it. He speaks exclusively during ...
The tax is collected by the Income Tax Department for the central government. Farmers - who constitute 70% of the Indian workforce - are generally excluded from paying income tax in India. Income tax returns are due in India generally on 31 July, 30 September or 30 November, depending on the category of taxpayer.
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
Income tax in India is governed by Entry 82 of the Union List of the Seventh Schedule to the Constitution of India, empowering the central government to tax non-agricultural income; agricultural income is defined in Section 10(1) of the Income-tax Act, 1961. [2]