Exemption from taxation is granted under section 10 of the Income Tax Act. The latest exemption has been given under a clause that deals with income received on behalf of a fund established for the welfare of employees or their dependants.
Also, earlier this year, the government had withdrawn a proposal to impose 5 per cent service tax on services provided by air conditioned hospitals of more than 25 beds and on diagnostic services.
Do you think CBDT should extend Tax Audit Report and relevant ITR Due Date? Please Comment, Vote, Retweet and Like.— Tax Guru (@taxguru_in) September 18, 2018