#tax-exemption
Son sells ancestral land for Rs 8 crore, buys 2 more properties; gets income tax notice but wins at ITAT Chandigarh: Know why
A family from Panchkula owned some ancestral land in a village. A member of this family sold his share of the the said land for Rs 8 crore and purchased two more lands and claimed Section 54B and Section 54F tax exemption. However, he got a tax notice.
UK social security exemption to save Indians $500 million a year
India-UK social security exemption set to save $500 million annually for Indian professionals and companies starting July 15.
Supreme Court rejects plea challenging Income Tax break to STs in North East
The Supreme Court has declined to hear a petition questioning the income tax exemption for Scheduled Tribes in certain north-eastern states. The court suggested the petitioner approach the Parliamentary Committee on Petitions or the Finance Ministry. This mov…
Income-tax returns: Are all donations 100% exempted from tax under old regime?
ITR: As the season to file your income-tax returns, we take a look at whether all donations qualify for 100% exemption from tax under the old tax regime, what are the categories, recipients, qualifying limit and more…
Centre working to restore gold import tax exemption for banks; shipments resume after IGST glitch: IBJA
The Centre is expected to issue a rectification order within 48-72 hours to restore the tax exemption for gold-importing banks after a notification accidentally withdrew the benefit, IBJA National Secretary Surendra Mehta said.