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[16] [17] In one case, a 1992 batch IRS officer was arrested for accepting a bribe of ₹ 2 crore in Mumbai. [18] Recently, in another case, some IRS officials were found to help certain companies evade payment of Service tax and related penalties of the order of ₹ 1 crore. [19]
The Income Tax Service was established in 1944 and was subsequently re-constituted as the Indian Revenue Service (Income Tax) in 1953. In 1963, given the increasingly complex roles and responsibilities of administering direct tax in India, the Central Board of Direct Taxes was constituted as a statutory body under the Central Board of Revenue ...
The Income Tax Service was established in 1944, and was subsequently reconstituted as the Indian Revenue Service (Income Tax) in 1953. In 1963, given the increasingly complex roles and responsibilities of administering direct tax in India, the Central Board of Direct Taxes was constituted as a statutory body under the Central Board of Revenue ...
States and unionterritories of Indiaordered by. In India states earn revenue through own taxes, central taxes, non-taxes and central grants. [1] 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 ...
The economy of Kerala is the 9th largest in India, with an annual gross state product (GSP) of ₹9.78 lakh crore (US$131.98 billion) in 2020–2021. [2] Per-capita GSP of Kerala during the same period is ₹257,711 (US$3,100), the sixth largest in India. [1] In 2019–20, the tertiary sector contributed around 63% of the state's GSVA, compared ...
The Goods and Services Tax (GST) is a successor to VAT used in India on the supply of goods and service. Both VAT and GST have the same taxation slabs. Both VAT and GST have the same taxation slabs. It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes.
Median household income and taxes. Most local governments in the United States impose a property tax, also known as a millage rate, as a principal source of revenue. [1] This tax may be imposed on real estate or personal property. The tax is nearly always computed as the fair market value of the property, multiplied by an assessment ratio ...
In the Indian state of Kerala which is ruled by CPI(M), as a part of June 2016 budgets, the government proposed a 14.5 per cent 'fat tax' on burgers, pizzas and other junk food served in branded restaurants which officials from the quick service industry termed as 'detrimental' to consumption.