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ide the certificate to a seller at the point of purchase, along with a statement that the item is for resale.
The tax is otherwise charged on each item sold to purchasers without such a certificate and who are under the jurisdiction of the taxing authority.
The government imposes a tax on of all persons who are individuals, (HUF's), companies, firms, LLP, association of persons, body of individuals, local authority and any other artificial juridical person.
Levy of tax on a person depends upon his residential status. The CBDT administers the Income Tax Department, which is a part of the Department of Revenue under the.
Income tax is a key source of funds that the government uses to fund its activities and serve the public.
The Income Tax Department is the biggest revenue mobilizer for the Government. The total tax revenues of the Central Government increased from ₹1,392.26 billion(US$22 billion) in 1997-98 to ₹5,889.09 billion(US$92 billion) in 2007-08.
The Income Tax Service, Group ‘B’ is the of the . It is the feeder service of the premier and elite . The service functions under the Department of Revenue in the and is concerned with the collection and administration of the various accruing to the .
All officers of and up to the rank of Income Tax Officer belong to Group B (Income Tax officer (ITO) is gazetted while those below the rank of Income Tax Officer are non-gazetted). On reaching the rank of Assistant Commissioner they are accorded IRS.
A chief technology officer (CTO), sometimes known as a chief technical officer, is an executive-level position in a company or other entity whose occupation is focused on scientific and technological issues within an organization.
Car donation is the practice of giving away no-longer-wanted automobiles or other vehicles to charitable organizations. In the United States, these donations can provide a taxbenefit
Although advertised as an easy way to dispose of an old car, donors need to fulfill certain post-donation requirements to qualify for the tax deduction, such as obtaining a written acknowledgment of the car's subsequent sale by the charity, and ITEMIZING tax returns instead of taking the STANDARD DEDUCTION.
For vehicles valued at less thaN 500 DOLLARS, the deduction amount comes from the donor's own estimate of the car's value, even if the charity receives less money from its sale. Deductions greater than 500 DOLLARS are limited to the proceeds of selling the vehicle, usually at AUCTION The U.S Internal Revenue Service advises that starting in 2005: