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Which Act is the most important direct tax law enforced by the Income Tax Department?

AWealth-tax Act, 1957
BIncome-tax Act, 1961
CCompanies Act, 2013
DGift-tax Act, 1958
Answer & Solution
Correct answer: B. Income-tax Act, 1961
The Income-tax Act, 1961 is the main statute under which income is taxed and the department collects revenue.
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