The income would be deemed to accrue outside India for which the family member of the individual would have to pay an income or a social security tax to the Government of the country where the income originated. Exemption under Section 10 (10) on gratuity income received by an employee If...
2.4 Concessional Rates of Tax u/s 115BAC 3. Section 192 of the Income-tax Act, 1961: Broad scheme of Tax Deduction at Source from “Salaries” 3.1 Method of Tax Calculation 3.2 Payment of Tax on Perquisites by Employer 3.3 Computation of Average Income Tax ...
This exemption is granted underSection 12AA of the Income Tax Act, 1961.However, there are few exceptions: Income from commercial activities: If a Section 8 company generates income from activities unrelated to its charitable objectives, such as running a commercial restaurant, that income will be...