Exemption

Knowing how these three words work can help you file your Income Tax Return properly and save more money.

I-T tribunal rejects Congress’ appeal seeking income tax exemption on Rs 199 crore donations

The IT tribunal upheld the decision of the tax authorities, ruling that the party must pay income tax on the donations received during that financial year.

Karnataka mandates zero-fee permits for electric, green commercial vehicles

In 2022, the transport department had exempted commercial EVs and vehicles running on alternative fuels like methanol and ethanol from permits

Union budget: Demand for Bengaluru's metro city status for HRA exemption gets louder

Industrialists have urged Union Finance Minister Nirmala Sitharaman, who represents Karnataka in the Rajya Sabha, to include Bengaluru in the list of metro cities under the Income Tax rules for a 50 percent House Rent Allowance (HRA) exemption.

Explained: How you can save on taxes via rebates, exemptions and deductions

While a tax rebate is beneficial for low-income earners, deductions can be claimed by all individuals irrespective of their tax slabs.

Centre may scrap LTCG tax, rework holding period to two-years

Definition of ‘long-term’ may also be amended from one to two years, with the government wanting to differentiate between a strategic investor and short-term investor

Govt curbs export duty exemption on organic sugar to 2.5k tons

The government today restricted export duty exemption on overseas shipment of organic sugar to 2,500 tonnes for the 2015-16 marketing year ending September. The government had extended exemption from export duty on 10,000 tonnes of organic sugar in March 2011.

Union Budget 2015: Jaitley proposes to hike service tax rate to 14%

The government was expected to hike service tax rate this time. A two percent service tax rate hike could have yielded over Rs 30,000 crore to the cash-starved government. A service tax rate change would have needed amendment in the Finance Act.

Extend tax benefits to housing sector: NAREDCO council boss

Extend tax benefits to housing sector: NAREDCO council chief

Salary earners upto Rs 5 lakh need to file I-T return: CBDT

Salaried persons earning upto Rs 5 lakh annually will have to file income tax returs, Central Board of Direct Taxes (CBDT) said on Monday.

Sebi revises norms for cos seeking scheme of arrangement

Market regulator Sebi has revised norms required for publicly traded companies which are planning to list their equities after amalgamation or de-merger.

Tax concession sought for social sector in upcoming Budget

Social sector representatives today pitched for tax exemptions and greater involvement of NGOs in implementation of welfare programmes of the government.

Remember to include the income of your minor child

There is often some income that arises in the name of the minor children of an individual and this is forgotten and kept aside at the time of tax calculations.

Govt exempts rail fares, freight from service tax till Sept

Rail travellers can breath easy as the government has decided not to levy 12% service tax on passenger fares and freight till September 30.

Sitaram Yechury: The Government Should Get Priorities Right

Sitaram Yechury on how the finance minister can balance the politics of the poor with the policies for the economy.

Budget 2012: Income tax exemption limit raised to Rs 2 lakh

Giving some relief to tax payers, Finance Minister Pranab Mukherjee today proposed raising the income tax exemption limit for individuals to Rs 2 lakh per annum from Rs 1.80 lakh.

Activists to exempt trucks carrying essentials to Arunachal

Anti-dam activists of Assam who have launched an indefinite economic blockade in Lakhimpur against NHPC dam at Gerukamukh, has given an assurance to a students delegation for exempting trucks carrying essential commodities and fuel to three Siang districts of Arunachal Pradesh from the purview of the blockade.

No tax return for salary, interest income up to Rs 5 lakh

As many as 85 lakh salaried tax payers whose taxable income, including salary and interest income, is up to Rs 5 lakh, are not required to file income-tax return from now onwards.

Excise duty relief a step in the right direction: Thermax

In an interview with CNBC-TV18, MS Unnikrishnan, managing director of Thermax said, the removal of excise duty is a positive move in the right direction. This move has brought in a level playing field for the domestic suppliers.

Inflation impact: Govt may hike tax exemption limit

Tax payers can expect some relief from high inflation in Budget 2011-12 as the government may raise the income tax exemption limit for individuals.