The Income-tax Act, 1961

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The Income-tax Act, 1961
Parliament of India
Long title An Act to consolidate and amend the law relating to income-tax and super-tax.
Citation	Act 43 of 1961
Enacted by	Parliament of India
Commenced	1 April 1962
Status: In force

The Income-tax Act, 1961 is the charging statute of Income Tax in India. It provides for levy, administration, collection and recovery of Income Tax. The Government of India brought a draft statute called the "Direct Taxes Code" intended to replace the Income Tax Act, 1961 and the Wealth Tax Act, 1957. However the bill was later scrapped.^[1]