pension

What Are The Types Of Pension Exempt From Tax?

It is well known that pension is taxable as salary and whereas family pension given to dependent family members after the death of employee...

SBI Exit Optees Eligible for Exemption u/s. 10(10C) of I.T.Act !

Section 10(10C) of the Income Tax Act provides the exemption upto Rs 5 Lakhs to employees who opt for Voluntary Retirement Scheme or Separation...

Income from Growing Vegetables on Roof Not Tax Free !

As the urbanisation is taking shapes fast, it is now usual practice to grow the vegetables , mushrooms and other plant related agricultural products...
allowance to mla

Many Allowances to MLA & MP Are Taxable !

It is generally believed that allowances granted to Member of Parliament or Member of Legislative Assembly are tax free. However , this is not...

How to decide if land is agriculture land ?

First of all, it must be noted that the Income tax Act has not defined word “Agriculture Land” . Only the term “agriculture income”...
venture capital fund

Tax Exemption to Venture Capital Fund or Company Simplified !

Venture Capital Fund (VCF) or Venture Capital Company plays a great role in seeding and nurture a newly setup business by a company. The...

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