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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.
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.
Learn about the history, types and administration of taxes in India, a country with a federal system of taxation. Find out the major taxes levied by the central and state governments, such as income tax, GST, excise duty and more.
Learn about the history, functions and structure of the Income Tax Department, a government agency in India that collects direct taxes and enforces economic laws. The article covers the ancient and modern origins of taxation, the Income-tax Act, 1961, and the Central Board of Direct Taxes.
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, functions and recruitment of the Indian Revenue Service (IRS), a civil service that collects and administers direct and indirect taxes in India. The IRS has two branches: IRS (Income Tax) and IRS (Customs and Indirect Taxes), each with its own statutory body and policy responsibilities.
The New Tax Regime is a scheme of Income tax in India first proposed in Union Budget 2020–21. It offers reduced tax rates but no deductions for most taxpayers, except for some exemptions. See the background, status and latest changes in FY23-24.
The Income-tax Act, 1961 is the charging statute of Income Tax in India. It provides for levy, administration, collection and recovery of Income Tax and covers various heads of income, tax rates, amendments and simplification.