Search results
Results From The WOW.Com Content Network
General anti-avoidance rule (GAAR) is an anti-tax avoidance law under Chapter X-A of the Income Tax Act, 1961 of India. [1] It is framed by the Department of Revenue under the Ministry of Finance . GAAR was originally proposed in the Direct Tax Code 2009 and was targeted at arrangements or transactions made specifically to avoid taxes.
The Union Budget is the annual financial report of India; an estimate of income and expenditure of the government on a periodical basis. As per Article 112 of the Indian Constitution, it is a compulsory task of the government. The first budget of India was presented on 18 February 1860 by Scotsman James Wilson.
As per government figures, the number of income tax returns filed for 2016–17 grew by 25 per cent to 2.82 crores (compared to growth rate of 9.9% in the previous year), and the advance tax collections during that period rose 41.8% over the one-year period, as more individuals filed their tax returns after demonetization.
The Constitution of India is the longest written constitution for a country, containing 470 articles, 12 schedules, 105 amendments and 117,369 words.. The legal system of India consists of civil law, common law, customary law, religious law and corporate law within the legal framework inherited from the colonial era and various legislation first introduced by the British are still in effect in ...
A PAN is a unique identifier issued to all judicial entities identifiable under the Indian Income Tax Act, [1] 1961. The income tax PAN and its linked card are issued under Section 139A of the Income Tax Act. It is issued by the Indian Income Tax Department under the supervision of the Central Board for Direct Taxes (CBDT) and it also serves as ...
The Principal Chief Commissioner of Income Tax and senior-most Chief Commissioners of Income Tax are promoted into this grade and have additional responsibilities as per personnel and budgetary targets are concerned. [citation needed] Their equivalent rank at the Union Secretariat is that of a Special Secretary. [citation needed]
PIO Card (Person of Indian Origin), issued by Ministry of External Affairs of the Republic of India; PAN Card, issued by the Income Tax Department. Driving license in India issued by the respective state governments (Ministry of Road Transport & Highways (MoRTH) Government of India) Ration card issued by the Government of India
Although ancient India had a significant urban population, much of India's population resided in villages, whose economies were largely isolated and self-sustaining. [citation needed] Agriculture was the predominant occupation and satisfied a village's food requirements while providing raw materials for hand-based industries such as textile, food processing and crafts.