Tag: Exemptions
The tax exemption limit for non-government (private sector) salaried employees on leave encashment has been raised from Rs 3 lakh to Rs 25 lakh, effective April 1, 2023.
The Indian government has exempted customs duty on imported drugs and food for rare diseases treatment, providing much-needed financial relief to patients.
The Central Board of Indirect Taxes and Customs (CBIC) has announced a reduction in the Goods and Services Tax (GST) rate for “Rab” sold without packaging and labelling from …
CBIC has exempted government bodies, including the National Testing Agency, from GST for conducting entrance examinations for educational institutions, effective March 1, 2023.
The Central Government has notified exemptions from customs duty in respect of the following imports under the India-Australia Economic Co-operation and Trade Agreement (Ind-Aus ECTA), in exercise of the …
Bengaluru MP Tejasvi Surya has raised the issue in Parliament about including Bengaluru in Metro Cities for allowing 50% HRA exemption under Section 10(13A) of the Income Tax Act, …
In light of recent changes in the Income Tax provisions relating to compliance by charitable religious trusts/institutions, the ICAI has issued a new publication, ‘Handbook on Statement of Donations …
Salaried individuals normally get House Rent Allowance (HRA) as a component of their salary which is partly exempt from income tax subject to certain conditions, stipulated in Section 10(13A) …
CBDT clarifies that any sum received including by way of bonus during the current previous year under any one or more eligible Unit Linked Insurance Policy (ULIPs) issued on …
CBDT announces further relaxation/ extension in timelines of various compliance requirements and exemption for expenditure on COVID treatment/ ex-gratia receipts on death due to COVID, under Income Tax Act …