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  1. Income-tax Act, 1961. 925 Record (s) | Page [1 of 93] Compare Act/ SectionNEW. Choose Acts: as amended by Finance Act.

  2. 3 days ago · According to the Income Tax Act, everyone in India, whether resident or non-resident, has to file income tax returns. Currently, tax is payable if the income exceeds Rs 3 lakh in a financial year as per the new tax regime. The Income Tax Act has classified taxpayers into various categories.

  3. The Income Tax Act 1961 is the set of rules and regulations upon which the Income Tax Department levies, administers, collects and recovers taxes. It contains 298 sections, 23 chapters and several important provisions which contain all the aspects of taxation in India.

  4. THE INCOME-TAX ACT, 1961 _____ ARRANGEMENT OF SECTIONS _____ CHAPTER I PRELIMINARY SECTIONS 1. Short title, extent and commencement. 2. Definitions. 3. “Previous year” defined. CHAPTER II BASIS OF CHARGE 4. Charge of income-tax. 5. Scope of total income. 5A. Apportionment of income between spouses governed by Portuguese Civil Code. 6 ...

  5. Mar 27, 2024 · The Income Tax Act 1961, a cornerstone of India's taxation framework, comprises a comprehensive set of rules, chapters, and sections that govern the levying, collection, recovery, and administration of income taxes.

  6. Federal individual tax rates vary from 10% to 37%. [8] Some states and localities impose an income tax at a graduated rate, and some at a flat rate on all taxable income. [9] Individuals are eligible for a reduced rate of federal income tax on capital gains and qualifying dividends.

  7. Returns and Forms Applicable for Salaried Individuals for AY 2024-25. Disclaimer: The content on this page is only to give an overview and general guidance and is not exhaustive. For complete details and guidelines please refer Income Tax Act, Rules and Notifications. 1. ITR-1 (SAHAJ) – Applicable for Individual.

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