Income Tax Department of India Quiz

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What is the main responsibility of the Income Tax Department?

The main responsibility of the Income Tax Department is to enforce various direct tax laws, most important among these being the Income-tax Act, 1961, to collect revenue for the government of India.

Under which ministry does the Income Tax Department function?

The Income Tax Department functions under the Department of Revenue of the Ministry of Finance.

Who heads the Income Tax Department?

The Income Tax Department is headed by the apex body Central Board of Direct Taxes (CBDT).

What are some of the economic laws enforced by the Income Tax Department?

<p>The Income Tax Department enforces other economic laws such as the Benami Transactions (Prohibition) Act, 1988, and the Black Money Act, 2015.</p> Signup and view all the answers

Which entities are empowered by the Income Tax Act, 1961, to be levied tax on their income?

<p>The Income Tax Act, 1961, empowers the ITD to levy tax on the income of individuals, firms, companies, local authorities, societies, or other artificial juridical persons.</p> Signup and view all the answers