Income tax returns to be filed after leaving India?

According to Section 174 of the Income Tax Act, any person leaving India with no intention of returning or who plans to stay away for a long time, is required to file his return for the total income earned during the financial year up to the probable date of his departure.

What is the Income Tax Act of Canada?

The CRA enforces the Income Tax Act (and Excise Tax Act) in Canada. The Income Tax Act contains the laws regarding taxation in Canada. It’s a very large, complicated book which is regularly updated, edited and tweaked as changes to Canadian tax laws are decided upon by politicians and changed through court challenges.

What is new Income Tax Act?

The Finance Act 2020 has inserted a new section 115BAC Income Tax Act, wherein an individual gets an option to choose between the actual tax rates and the new concessional tax rates without considering prescribed exemptions or deductions.

Who introduced Income Tax Act?

Sir James Wilson

To fill the treasury, the first Income-tax Act was introduced in February 1860 by Sir James Wilson (British India’s first finance minister). The act received the assent of the governor-general on 24 July 1860, and came into effect immediately. It was divided into 21 parts, with 259 sections.