Income Tax Department of India
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Questions and Answers

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?

  • 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?

  • 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?

    <p>Combatting tax evasion and tax avoidance practices</p> Signup and view all the answers

    What kind of taxation does ITD deal with regarding international businesses and professionals?

    <p>All matters of double taxation avoidance agreements and various other aspects of international taxation such as transfer pricing.</p> Signup and view all the answers

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