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Income Tax Departments
Income Tax Department is one of the important part of Ministry of Finance, Government of India. It is one of the important resources of Government of India through which every year it generates a huge amount of revenue for the development of the country. It also operates through its subordinate departments, which help it to perform its responsibility on time in a better manner.
For understanding Income Tax Department in a better way it can be divided into three parts as given below:
Introduction
Income Tax Department is one of the important part of Ministry of Finance, Government of India. In 1860, it started working with the implementation of first Income Tax Act. After implementation of this Act, people became aware of the actual meaning of Income Tax and motto of Income Tax Department.
Central Board of Direct Taxes (CBDT)
Central Board of Direct Taxes came into force on 1st Jan, 1961. It has been taking care of all direct tax related matters in India. It is working under Central Board of Revenue Act 1963.
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