Tax Rebate Available Under Income Tax Slab. Income Tax Department contact information and … To check tax evasion, the Income Tax Department has stepped up its vigilance against undeclared income. Income Tax (IT) Income tax is charged on the basis of the provisions under the Inland Revenue Act, No. You can claim a deduction under section 80c of Rs 1.5 lakh your total income. Income Tax Department is headed by the apex body Central Board of Direct Taxes (CBDT). It functions under the Department of Revenue of the Ministry of Finance. The administration of the Acts mentioned at Sl.Nos.3, 5, 6 and 7 is limited to the cases pertaining to the period when these laws were in force. Goods and Services Tax - The taxpayer had charged GST at the rate of 18% on the supply and installation of furniture in the government department. What amount must Graham include in his gross income? Thus, the statement given in the question is false and hence, option (b) is the correct option. The Income Tax Department appeals to taxpayers NOT to respond to such e-mails and NOT to share information relating to their credit card, bank and other financial accounts. 12/2017-Central Tax (Rate), dated 28.06.2017 [S No 8 of the Table]. Under Section 238 of the Income Tax Act, 1961, if a person is unable to claim tax refund due to death, insolvency, incapacity, liquidation or any other cause, then his legal representative, trustee, guardian, or receiver can claim the refund on his/her behalf. It exercises control in respect of matters relating to all the Direct and Indirect Union Taxes through two statutory Boards namely, the Central Bord of Direct Taxes (CBDT) and the Central Board of Indirect Taxes and Customs (CBIC). 2. Consumer complaints and reviews about Income Tax Department - It company not register and work on international level and not pay any tax. The chemistry department offered Graham a $5,000 tuition reduction and $3,500 toward the cost of room and meals. The Income Tax Department NEVER asks for your PIN numbers, passwords or similar access information for credit cards, banks or other financial accounts through e-mail.. 10 of 2006 as amended by Inland Revenue Amendment Acts No. The foundation day of any organization or for that matter any country brings pride and joy to its members and we are no different. The Income Tax Department examines the return of income for its correctness. The Income Tax Act gives the I-T department power to reassess previously filed I-T returns. Getty Images Family pension received by the individual is taxable under the head 'income from other sources'. The machinery works towards the broad objective of combating tax … Each Board is headed by a Chairman who is also ex-officio Special Secretary to the Government of India. Mohan said that under section 147 of the Income Tax Act, the department can issue a notice to the taxpayer. In 2013, Income Tax Department issued letters to 12,19,832 non-filers who had done high value transactions. You may be one of them. Act Now! All forms of earnings are generally taxable and fall under the personal income tax bracket. Job Profile of SSC CGL Income Tax Inspector (ITI) The Income Tax job includes both, desk and field work. Matters relating to the levy and collection of all Direct Taxes are looked after by the CBDT whereas those relating to levy and collection of Customs and Central Excise duties and other Indirect Taxes fall within the purview of the CBIC. It functions under the Department of Revenue of the Ministry of Finance. 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