Income Tax Exemption

Income Tax Exemption News

Income Tax exemption, relief options for employees getting severance pay
Business

Income Tax exemption, relief options for employees getting severance pay

If an employee has received compensation under VRS, then he/she is eligible to claim tax exemption

Centre exempts income tax for COVID-19 treatment funds: Here are key points to claim benefit
India

Centre exempts income tax for COVID-19 treatment funds: Here are key points to claim benefit

Additionally, ex-gratia payments received from employers in case of employees' death due to COVID-19 will also be exempt from income tax in fiscal 2019-20 and subsequent years

Govt to take call on relief in income tax at appropriate time: Union minister Anurag Thakur
Business

Govt to take call on relief in income tax at appropriate time: Union minister Anurag Thakur

The government will take a decision on raising the income tax exemption limit at an appropriate time, Minister of State for Finance Anurag Singh Thakur said on Thursday

Disability pension tax: Rather than vilifying soldiers, Defence Ministry should work with forces to prevent dishonest claims
India

Disability pension tax: Rather than vilifying soldiers, Defence Ministry should work with forces to prevent dishonest claims

Rather than ordering a blanket change of rules on disability pension tax, the Ministry of Defence should work with the armed forces to institute a foolproof and verifiable system for disability claims

R Venkataramanan quits Tata Trusts as managing trustee, Ratan Tata's half-brother Noel roped in as trustee of Ratan Tata Trust
Business

R Venkataramanan quits Tata Trusts as managing trustee, Ratan Tata's half-brother Noel roped in as trustee of Ratan Tata Trust

R Venkataramanan, the managing trustee of the Tata Trusts, a string of non-profits that own 66 percent of the diversified Tata Sons, has resigned

Union Budget 2019-20: Industry chamber CII for doubling I-T exemption to Rs 5 lakh, hiking 80C deduction limit
Business

Union Budget 2019-20: Industry chamber CII for doubling I-T exemption to Rs 5 lakh, hiking 80C deduction limit

Industry chamber CII has urged the government to double the income tax exemption threshold to Rs 5 lakh and increase the deduction limit under Section 80C to Rs 2.50 lakh to incentivise savings in the Union Budget to be presented on 1 February

Budget 2018: Why it is time to reconsider income tax exemption given to charitable institutions
Business

Budget 2018: Why it is time to reconsider income tax exemption given to charitable institutions

If rendering noble services can beget one income tax exemption, there could other claimants for this honour

Anurag Thakur: Difficult for BCCI to help other sports federations if IT Exemption stands cancelled
First Cricket News

Anurag Thakur: Difficult for BCCI to help other sports federations if IT Exemption stands cancelled

BCCI president Anurag Thakur on Saturday said that as long as the Income Tax Exemption of the Board remains withdrawn, it will be difficult to help Olympic sporting disciplines as much as they would have liked to

More deductions but no changes in tax slabs: What Union Budget 2015 offers middle class
Economy

More deductions but no changes in tax slabs: What Union Budget 2015 offers middle class

Finance Minister Arun Jaitley did not really bring in acche din for the salaried class as the income tax slabs remain unchanged but it did offer some respite by doubling monthly transport allowance ( which is tax free) to Rs 1600 as well as offering deductions under section 80 (D)