exemptions

EXEMPTIONS OF INCOME RELEVANT FOR THE HEAD “SALARIES” It is not true that every income received by an employee from his employer is taxable. Any income falling within any of the following paragraphs shall not be included in computing the income from salaries: - (1) The value of any travel...

Income Tax Exemptions For Salaried People In India All income received as salary under Employer-Employee relationship is taxed under this head. Employers must withhold tax compulsorily, if income exceeds minimum exemption limit, as Tax Deducted at Source (TDS), and provide their employees with...

EXEMPTIONS:- The schedule does specify certain goods attracting nil rates of tax or exempt goods. Other than those, there is no specific or general exemption, as was the position under the sales tax regime The government may have a power to notify exemptions and appears to be limited. To...

Exceptions Where interest paid does not exceed Rs 5000 Paid to any banking company, any financial corporation, LIC,UTI,or any company or co-operative society carrying on the business of insurance, such other institution, association or body or class of institutions, associations or bodies...

exemptions under section 10 and definitions

Exemptions To Private Limited Companies 1) Financial assistance can be given for the purchase of or subscribing for its own shares or shares in its holding company - Sec. 77 (2). 2) Further shares can be issued without passing a special resolution or obtaining the Central government's...