Tag: Exemptions

CBDT clarifies applicability of exemption u/s 10(10D) in respect of receipts from Life Insurance Policies in different situations, vide Circular 15/2023.

CBDT notifies new I-T Rule 11UACA on Computation of income chargeable to tax under section 56(2)(xiii) in respect of Receipts from Life Insurance Policies.

CBDT notifies exemption from TDS u/s 194-I on lease rent or supplemental lease rent of a ship received by a unit operating within an IFSC, vide Notification 57/2023.

CBIC exempts small taxpayers with an AATO up to Rs 2 crore exempted from filing the annual GST return (GSTR-9) for FY 2022-23, vide CT Notification 32/2023.

CBDT has issued Notification 52/2023 on TDS exemption for IFSC units engaged in aircraft leasing, subject to compliance with prescribed procedure.

Understand the CBDT's amendment in I-T rules regarding tax exemptions to non-residents for investments in certain financial instruments and specified funds.

Central Board of Direct Taxes (CBDT) has notified certain certain classes of persons which are exempt from the 'angel tax' provisions under Income-tax Laws, vide Notification 29/2023.

CBDT has amended the provisions of the 'Angel Tax' under Section 56(2)(viib) of the Income Tax Act, 1961, to exempt or exclude start-ups recognized by the DPIIT, vide Notification …

The tax exemption limit for non-government (private sector) salaried employees on leave encashment has been raised  from Rs 3 lakh to Rs 25 lakh, effective April 1, 2023.

The Indian government has exempted customs duty on imported drugs and food for rare diseases treatment, providing much-needed financial relief to patients.