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...
Learn about the exemption towards retrenchment compensation received by workmen under Section 10(10B) of the Income Tax Act.
Understand the provisions of section 10(10A). Learn about the exemption available for commuted value of pension under the Income Tax Act.
An exemption under section 10(8A) and section 10(8B) of the Income Tax Act are interconnected. Section 10(8A) provides exemption towards remuneration / fee and other income received by the ‘consultant’. Whereas, section 10(8B) provides exemption towards remuneration / fee and other income received by the employee of the consultant. Exemption available, and conditions to be […]
Exemption provisions of section 10(7) of Income Tax Act: Learn about the tax benefits for government employees serving outside India.
Tax paid by the Government or Indian concern on certain income of a foreign company – Section 10(6A), 10(6B), 10(6BB) and 10(6C) Provisions of section 10(6A), section 10(6B), section 10(6BB) and section 10(6C) of the Income Tax Act provides various exemption towards tax paid by the Government / Indian concern on certain types of income of […]
Provisions of section 10(6) of the Income Tax Act covers the following exemptions – 1. Section 10(6)(ii) – Remuneration received as an official of various offices or remuneration received as a trade commissioner or other official representative 2. Section 10(6)(vi) – Remuneration received as an employee of the foreign enterprise. 3. Section 10(6)(viii) – Remuneration […]
Discover the exemptions towards interest to non-residents under Section 10(4) & 10(4B) of the Income Tax Act. Learn about the categories eligible and the types of exemptions available.
Provisions of section 10(2A) of the Income Tax Act exempts share of profit received by a partner in the total income of the partnership firm/LLP. The main objective of granting the exemption,under section 10(2A) to the share of profit received by the partner, is the avoidance of double taxation. The present article meticulously explains the […]
Understand the provisions of section 10(2) of the Income Tax Act and the exemption available for co-parceners from Hindu Undivided Family income.
Mr. Sanghai had sold a commercial property, which was a long term asset and invested the same in purchase and construction of a flat in a apartment in Mumbai, within the one year of sale of asset and claimed deduction u/s 54F of income tax act, but later the builder has not completed the possession of the apartment within 3 years and the apartment remained under construction even after 3 years. The period of 3 years is lapsed without any mistake of Mr. Sanghai Now?
