![]() ![]() The Income Tax Act, 1961, has a wide scope and empowers ITD to levy tax on the income of individuals, firms, companies, local authorities, societies, or other artificial juridical persons. It also enforces other economic laws such as the Benami Transactions (Prohibition) Act, 1988, and the Black Money Act, 2015. The main responsibility of the Income Tax Department is to enforce various direct tax laws, most important among these being the Income-tax Act, 1961, to collect revenue for the government of India. The Income Tax Department is headed by the apex body Central Board of Direct Taxes (CBDT). ![]() It functions under the Department of Revenue of the Ministry of Finance. The Income Tax Department (also referred to as IT Department abbreviated as ITD) is a government agency undertaking direct tax collection of the government of India. ![]()
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