nothing in return. ... CBDT rejects Income Tax Due date extension representations; View All Popular Posts. save Save Income Tax Authorities For Later. 1. Income Tax Authorities - Free download as Powerpoint Presentation (.ppt / .pptx), PDF File (.pdf), Text File (.txt) or view presentation slides online. No public clipboards found for this slide. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Such Authorities not below the rank of Assistant Commissioner of income-tax, as may be notified by the Board have powers to inquire or investigate in respect of any person or class of persons relating to an agreement for the exchange of information under section 90 and 90A. The Indian Income Tax Act is probably the world's most frequently amended one. Indirect tax is paid by the person other than the person who utilizes the product or service e.g Excise duty, Custom duty, Service tax, Sales Tax, Value Added Tax. You can change your ad preferences anytime. Based on the object of both provisions and considering the above, it could be said that GAAR and PPT should complement each other, thereby co-existing rather than one superseding the other. What is the minimum and maximum penalty leviable? You can change your ad preferences anytime. collection of income tax: for the ascertainment of the income to be charged; for the administrative and general provisions relating thereto; and for matters incidental to and connected with the foregoing INCOME TAX AUTHORITIES • The Income Tax Department, also referred to as IT Department, is a government agency in charge of monitoring the income tax collection by the Government of … INTRODUCTION • The present law of income tax is contained in the Income Tax Act, 1961. Income tax-ppt-revised 1. Join Detailed Online Certification Courses on GST; The relevant section of Income-tax Act prescribe the minimum and maximum penalties which can be levied. The objective of IAS 12 (1996) is to prescribe the accounting treatment for income taxes.In meeting this objective, IAS 12 notes the following: 1. If you continue browsing the site, you agree to the use of cookies on this website. Share. If you continue browsing the site, you agree to the use of cookies on this website. In 2014, Income Tax Department has identified additional 22,09,464 non-filers who have done high value transactions. Now customize the name of a clipboard to store your clips. 3/1/2015 2 Tax is a payment made to the government of a country with out “ quid pro quo”i.e. India. U.S.A. 53 Dividend Distribution Tax (DDT) Can credit be available for DDT as - Direct Credit. | PowerPoint PPT … Income earned in India. PPT on Vivad Se Vishwas Scheme, 2020. They have made some changes in income tax slab rate and rules. Now customize the name of a clipboard to store your clips. along with interest and fee* should be paid before filing the return of income. 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.. Then Tax will be levied on Mr. Joseph only as direct taxes are levied on Individual. INCOME TAXES At the end of this topic, students should be able to: Define deferred tax … List of information about Income Tax. 3. Step 4 The amount of income-tax determined at Step two will be reduced by the amount of income-tax determined under Step three. Income Tax Authorities their Powers & Functions under Income-Tax Act, 1961. In 2013, Income Tax Department issued letters to 12,19,832 non-filers who had done high value transactions. Free Tax PowerPoint Templates are a collection of designs for the presentations on tax deductions for the national treasury. 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