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Tax deduction at source (TDS) is an Indian withholding tax that is a means of collecting tax on income, dividends, or asset sales by requiring the payer (or legal intermediary) to deduct tax due before paying the balance to the payee (and the tax to the revenue authority).
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] Income-tax law consists of the 1961 act, Income Tax Rules 1962, Notifications and Circulars issued by the Central Board of Direct ...
A Form 16 is a certificate issued to salaried class to acknowledge the deduction of TDS from their salary by the employer. [9] It must be issued by 15 June of the following year for which it is being issued. For the F.Y. 2017–18, the due date for issue of Form 16 shall be 15 June 2018.
April 15 (Tuesday) 2026 date. April 15 (Wednesday) In the United States, Tax Day is the day on which individual income tax returns are due to be submitted to the federal government. [3] Since 1955, Tax Day has typically fallen on or just after April 15. Tax Day was first introduced in 1913, when the Sixteenth Amendment was ratified.
The tax compliance had increased with a number of income tax returns filing increased but the majority of them were from salaried and non-business class. The income tax collections increased in the financial year of 2017 due to Income Disclosure Scheme 2016. If adjusted for it, the increase in tax collection was modest.
The Carl Levin and Howard P. "Buck" McKeon National Defense Authorization Act for Fiscal Year 2015 (proposed as H.R. 4435, passed as H.R. 3979, Pub. L. 113–291 (text) (PDF)) was a National Defense Authorization Act. According to the House Armed Services Committee, which oversaw the legislation, the bill would be "the comprehensive legislation to authorize the budget authority of the ...
Professional Tax. Profession tax is the tax levied and collected by the state governments in India. It is a direct tax. A person earning an income from salary or anyone practicing a profession such as chartered accountant, company secretary,cost accoutant, lawyer, doctor etc. are required to pay this professional tax.
The United States Federal Budget for fiscal year 2016 began as a budget proposed by President Barack Obama to fund government operations for October 1, 2015 – September 30, 2016. The requested budget was submitted to the 114th Congress on February 2, 2015.