Valuation of Allowances – for calculating Taxable Salary Income for AY : 2022-23 & 2023-24.
1. Allowances- Income under the head Salaries Allowance is a fixed monetary amount paid by the employer to the employee ...
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Tag: Section-10
Section 10(5)- Treatment of Leave Travel Concession or Assistance (LTC/LTA)
The employee is entitled to exemption under section 10(5) in respect of the value of travel concession or assistance received ...
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Exempted Incomes (Section 13A)-Incomes of Political Parties
Incomes of Political Parties which do not form part of Total Income Under Section 13A and are Exempted incomes. Incomes ...
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Exempted Incomes (Section 10AA)- Income of Newly Established Units in Special Economic Zones (SEZ)
Deduction allowed to newly established Units in Special Economic Zones (1). Assessees who are eligible for deduction: Deduction under this ...
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Exempted Incomes under Section 10 to 13A under Income Tax Act. 1956
1. Agricultural Income Agricultural income is totally exempt, provided it falls within the definition of agricultural income given under section ...
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Amendments relating to ‘Exempted Incomes -Section-10’ by The Finance Bill 2022
1. Provision inserted under Clause ( c ) of explanation to Section 10(4D) applicable w.e.f. 2022-23 As per Clause (c) ...
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Income Tax Management and Tax Ready Reckoner with Tax Planning for the Assessment Years 2022-2023 & 2023-2024 - for Students, Salaried, Professionals & Businessman.