Income Tax : Discover the benefits and workings of tax holidays, their impact on foreign investment, economic activities, and the key sections ...
Income Tax : A resident person is chargeable to tax in respect of his global income. If Income-tax Act enlarges the scope of taxable income of ...
Income Tax : Exemptions from tax, also known as non-taxable income, refer to the income that is not subject to income tax. This income may be e...
Income Tax : Due to COVID-19, the world is tremulous, which was not witnessed by the present generation. More than 4 million people have last...
Income Tax : Discover the tax exemption granted by CBDT to Singapore-based sovereign wealth funds. Explore the investment opportunities in Indi...
Income Tax : In order to curb the practice of declaring unaccounted income as exempt long term capital gain by entering into sham transactions,...
Income Tax : BJP leader Arun Jaitley on Friday advocated hike in income tax exemption limit, enhancement of excise limit for small industrial u...
Income Tax : A Parliamentary panel scrutinising the Direct Taxes Code - DTC Bill has suggested raising the income tax exemption limit to 3 lakh...
Income Tax : Terming cooperatives as one of the strongest pillars of Indian agriculture, Farm Minister Sharad Pawar today said he has asked Fin...
Income Tax : Health-care costs are skyrocketing and are going beyond the reach of a common man. The need of the hour is to bring this sector un...
Income Tax : Punjab & Haryana High Court rules assessees aren't required to keep the department's e-portal open at all times to track actions. ...
Income Tax : The issue under consideration is whether the assessee being employee of Public Sector Undertaking (PSU) and Nationalised Banks tre...
Income Tax : ITAT reiterate that the assessee is seeking to claim exemption from income tax on gains arisen from sale of land on the ground tha...
Income Tax : As per Section 10(23AA), the exemption can be for the income received by any person on behalf of any regimental fund or non-public...
Income Tax : ITAT held that fantastic sale price was not at all possible as there was no economic or financial basis as to how a share worth Rs...
Punjab & Haryana High Court rules assessees aren’t required to keep the department’s e-portal open at all times to track actions. Detailed judgment analysis provided.
Discover the benefits and workings of tax holidays, their impact on foreign investment, economic activities, and the key sections like 10AA and 80 IAC in India.
A resident person is chargeable to tax in respect of his global income. If Income-tax Act enlarges the scope of taxable income of a resident person, it extends certain benefits and privileges to a resident person as well, inter-alia, an option to compute income on presumptive basis
Exemptions from tax, also known as non-taxable income, refer to the income that is not subject to income tax. This income may be exempt from tax for a variety of reasons, such as being below a certain threshold or being earned through certain sources. In this article, we will delve deeper into the concept of non-taxable income and the types of income that are exempt from tax.
Due to COVID-19, the world is tremulous, which was not witnessed by the present generation. More than 4 million people have lasted their breath globally in the last 18 months on account of this disease. India accounts for about 10% of this death count.
Discover the tax exemption granted by CBDT to Singapore-based sovereign wealth funds. Explore the investment opportunities in India’s infrastructure sector.
Tax Incentive to Business / Service sector/ Industry on salary of new employees On Salary of Rs. 100/- avail tax benefit on Rs. 190/- :- Any business / service sector/ manufacturing industry can claim additional deduction of 30% of salary paid to additional employees, subject to fulfilment of certain conditions. This deduction of 30% of […]
Find out how Section 80C & Sec 10(10D) allows you to save taxes and get a financial cover with life insurance. Learn about the deduction, exemption, and implications of surrendering the policy.
Learn about the adequacy of the allotment letter for claiming exemption under section 54F of the Income Tax Act, 1961. Understand the conditions and requirements for tax relief on capital gains.
Charitable Trusts having multiple educational institutions are facing many issues especially of exemptions u/s 10(23C)(iiiad) of the Income Tax Act, 1961, in processing of returns by CPC and in assessments. Following is an analysis of the section and the legal precedents. 1. The law Section 10(23C)(iiiad) reads as under – Incomes not included in total […]
