The taxation of interest on PF contribution ( provident fund contributions) is currently a tot topic. Why? Because many people (read employees) will have to pay tax on interest earned…
Exemption
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Exemption of income from tax are primarily provided under section 10 of the Income Tax Act and other provisions like section 54, section 54EC & section 54F
It is well known that pensions are taxable as salary and whereas a family pension given to dependent family members after the death of an employee is taxable as income from another source under the Income Tax Act. However, in certain special circumstances, a pension is tax-free under the income tax act. In some cases, such exceptional circumstances that make a pension tax free are provided under section
It is very common question among students who get stipend or fellowship or scholarship either in India or for studying in foreign universities. But the question that hounds the student…