Need A Financial Product › Forums › Tax Savings › What comes under income tax Act of 1961?

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  • September 17, 2014 at 10:26 am #47438
    Sameer Kapoor
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    What comes under income tax Act of 1961?

    September 19, 2014 at 5:53 am #47439
    Sameer Kapoor
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    Income tax Act of 1961 is responsible for imposing tax on income of the individuals and organisations. It imposes taxes on- House and property tax. Business income tax. Income from the salaries of people. Capital profit incomes. But income tax Act of 1961 is replaced by Direct Taxes Code Act of 2010 and the implementation started from 2013. This act is an upgrade on income tax act of 1961 and covers the budget as well while imposing taxes.

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