Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
What is the main responsibility of the Income Tax Department?
What is the main responsibility of the Income Tax Department?
- Regulate indirect tax collection
- Enforce labor laws
- Enforce various direct tax laws (correct)
- Handle international trade agreements
Which body heads the Income Tax Department?
Which body heads the Income Tax Department?
- Department of Revenue
- Central Board of Direct Taxes (CBDT) (correct)
- Indian Revenue Service (IRS)
- Ministry of Finance
Who does the Income Tax Department levy taxes on according to the Income Tax Act, 1961?
Who does the Income Tax Department levy taxes on according to the Income Tax Act, 1961?
- Foreign governments
- International tourists
- Non-profit organizations
- Individuals, firms, companies, local authorities, societies (correct)
What is one of the key duties of the Income Tax Department?
What is one of the key duties of the Income Tax Department?
Signup and view all the answers
What kind of taxation does ITD deal with regarding international businesses and professionals?
What kind of taxation does ITD deal with regarding international businesses and professionals?
Signup and view all the answers
Flashcards are hidden until you start studying
