Scholarship Received in India or Abroad Tax Free

Scholarship has been clearly given exemption from being included in the total income of a person as per section 10(16) of the Income tax...

Meaning of “not for the purpose of profit” for Exemption to educational insututes

The condition that the exemption to educational institution under section 10(23)(c) of the Income tax Act  is allowed only when the educational institution is run "not for the...

Exemption : solely for the purpose of education -What does it Mean?

The tax exemption to an educational institutes or schools or college is allowed only if the educational institution or school or college are solely...

Section 10(23)(c): What is Meaning of Education ?

Education is defined as  one of the charitable purpose for which exemption u/s 11 or 12 or 10(23)(c) can be claimed  by an assessee....

Educational Institutes : When Can Its Income Tax Free !

Perhaps everyone knows that the income of educational institutes are tax free. But what few people know is that the tax exemption to educational school or institutions...
software_taxation

7 Software Realted Clarifications by CBDT

CBDT clarification has come on demands of Indian software industry demands that various tax provisions are creating unnecessary interpretation and thereby increasing litigation  CBDT has...

Exemption u/s 54 or 54F for Buying Property Aboard.

Exemption u/s 54 from long term gains on sale of any kind of asset is allowed  under section 54 or 54F if the sale...

Exemption u/s 54F or Sec. 54 Allowed Even if New Property Bought in Name...

The exemption from capital gains on sale of any capital asset other than a residential house is provided u/s 54F of the Income Tax...

Payment to tenants for vacating house is cost of acquisition , Yet Not Relevant...

When a person purchases a house which are occupied by tenants , he is required to pay tenants for vacating the house . The...

Why Firm Can Not Claim Exemption u/s 54 or Tax Relief u/s 23(2) .

Section 54 of the I T Act provides exemption in case capital gains arises on sale of house property whereas section 23(2) says that...
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