Search results
Results From The WOW.Com Content Network
The resources of the union government and state government for five years starting from 1 April 2005 on the basis of the total tax and non-tax that it will likely to receive by the end of 2003-04. The demand of the resources by the central government, in particular the need of expenditure on civil administration, internal security, defence ...
The act, which became effective on 1 April 1962, replaced the Indian Income Tax Act, 1922. Current income-tax law is governed by the 1961 act, which has 298 sections and four schedules. [9] The Direct Taxes Code Bill was sponsored in Parliament on 30 August 2010 by the finance minister to replace the Income Tax Act, 1961 and the Wealth Tax Act ...
Once again, a taxpayer challenged the legality of the income tax. In Pollock v. Farmers' Loan and Trust Company (1895), [2] Charles Pollock sued the corporation in which he owned stock, contending that the corporation should never have paid the income tax because the tax was unconstitutional. In this case, the tax was paid on income from land.
new act The Central Board of Direct Taxes (CBDT) is a part of the Department of Revenue in the Ministry of Finance, Government of India.[24] The CBDT provides essential inputs for policy and planning of direct taxes in India and is also responsible for administration of the direct tax laws through Income Tax Department.
In 1966, the Delhi Police on the basis of the Khosla Commission Report was reorganized. Four police districts, namely, North, Central, South and New Delhi were created. [11] In 1978, the Delhi Police Act was passed and the Commissioner System was introduced with effect from 1 July 1978. [6]: para7.69
For most states, own taxes form the largest part of the total state revenue. [1] Taxes as per the state list includes land revenue, taxes on agricultural income, electricity duty, luxury tax, entertainment tax and stamp duty. [2]
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. In 1924, the Central Board of Revenue Act constituted a Central Board of Revenue - the statutory body with functional responsibilities for ...
With regard to the distribution of Income Tax, the Commission made the following recommendations: Despite the receding contribution by the Income Tax to the devolution of revenue to the States, the Commission recommended an increase in the per cent of the net proceeds to the States from 55 to 60, and the share of the Union Territories should be ...