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TDS stands for tax deduction at source, a withholding tax in India that applies to various types of income, dividends, or asset sales. Learn about the objectives, rates, provisions, and certificates of TDS under the Income Tax Act of 1961.
TAN is a 10 digit alpha-numeric number issued by the Income Tax Department to the persons who are required to deduct or collect tax on payments made by them in India. TAN is used to deposit, claim and verify the tax deducted at source (TDS) and to issue certificates.
ITR stands for Income Tax Return, a form that assesses file information about income and tax to the Income Tax Department of India. Learn about the different types of ITR forms, the eligibility criteria, the due dates, and the penalties for late filing.
Learn about the history, law, administration and collection of income tax in India, a key source of government funding. Find out how income tax is governed by the Income-tax Act, 1961 and other laws, and how it applies to different types of taxpayers and income.
The Income Tax Department is a government agency in India that collects direct taxes under the Central Board of Direct Taxes (CBDT). It enforces various tax laws, such as the Income-tax Act, 1961, and deals with international taxation issues.
The Income Tax Department of India specifies the use of the Form and various rules and regulations are associated with it. The Income Tax Act, 1961, and the Income Tax Rules, 1962, govern the process of filing Income Tax Returns in India. Form 3CE is a part of this process and is an Audit Report format and is required by Section 44DA.
A permanent account number (PAN) is a unique identifier issued by the Indian Income Tax Department to any person who applies for it or to whom the department allots the number. It is used for taxation, identification and age verification purposes and is mandatory for various financial transactions.
IRS (Income Tax) is the administrative revenue service of the Government of India, responsible for collecting and administering direct taxes. It is a Central Service under the Ministry of Finance and has two streams of recruitment: direct recruits and Group B officers.