Section 1 of ITA, 1961 : Section 1: Short Title, Extent And Commencement
ITA, 1961
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Explanation using Example
Let's say Raj, who lives in Mumbai, India, earns a salary from his employer. Since the Income-tax Act, 1961 extends to the whole of India, Raj must pay taxes on his income as per the provisions of this Act. The Act has been in force since April 1, 1962, so it governs all of Raj's income tax filings for the current financial year.
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