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...
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”...
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...
Filing Late Return For Extending Period of Investment !
The Income Tax Act provides exemption from tax on long-term capital gain , under section 54 or 54F ,in case the capital gains (...
9 FAQs on Capital Gains Account Scheme !
Capital Gains Account Scheme 1988 ( the Scheme after this ) is well known among tax payer as this is one scheme for providing...
Is Dividend From Cooperative Society Exempt?
Dividend is commonly perceived to be tax free in India . However as per the Income Tax Act this is not the case ....
Is Salary or Pension Received By Employees Of United Nations Tax Free?
The salary or pension received by a resident of India is taxable in India.However , when the salary or pension is received by a...
