Tag: Exemptions
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.
The Central Board of Indirect Taxes and Customs (CBIC) has announced a reduction in the Goods and Services Tax (GST) rate for “Rab” sold without packaging and labelling from …
CBIC has exempted government bodies, including the National Testing Agency, from GST for conducting entrance examinations for educational institutions, effective March 1, 2023.
The Central Government has notified exemptions from customs duty in respect of the following imports under the India-Australia Economic Co-operation and Trade Agreement (Ind-Aus ECTA), in exercise of the …
Bengaluru MP Tejasvi Surya has raised the issue in Parliament about including Bengaluru in Metro Cities for allowing 50% HRA exemption under Section 10(13A) of the Income Tax Act, …
The CBIC has notified that small taxpayers with an aggregate annual turnover (AATO) of up to Rs 2 crore are exempt from filing the annual GST return for the …
In light of recent changes in the Income Tax provisions relating to compliance by charitable religious trusts/institutions, the ICAI has issued a new publication, ‘Handbook on Statement of Donations …