Tax Exemptions

Centre has given tax exemption on transfer of assets by the national carrier to its special purpose vehicle Air India Assets Holding Limited.

Papad, whatever its shape or name, is exempted from GST, the government's indirect taxation agency clarified today after a social media post claimed that a round papad is exempted from the tax while a square variant attracts it.

The Income-Tax rules explicitly mention the incomes exempted from taxation, but there's no clarity whether they cover cryptocurrency

The Madras High Court has stayed payment of a Rs 1 lakh fine on actor Vijay for seeking exemption from trying to avoid paying entry tax on the import of a high-end car - a Rolls Royce Ghost - in 2012.

Income Tax Relief Amid COVID-19: The government announced that the amount paid by an employer to employees for COVID-19 treatment would be exempted from tax

Central Board of Indirect Taxes has said that fees paid by students to sit in any examination conducted by Central or state boards won't attract GST.

Supplying food to schools under mid-day meal scheme, pre-schools and anganwadis is exempt from GST, the Central Board of Indirect Taxes and Customs (CBIC) has said.

GST Council Meeting 2021: In the previous GST Council meeting, the tax was exempted on the import of Amphotericin B, a medicine used for the treatment of black fungus infection.

Chhattisgarh Chief Minister Bhupesh Baghel on Tuesday slammed the centre for allegedly keeping out the members of Congress-ruled states from the group of ministers (GoM) constituted by the GST Council for exemption of tax on essential goods related t

The new draft notification states that any electric vehicle (EV) buyer will be exempted from paying a registration fee for a new EV or a fee for renewal of registration as well.

The government has granted tax exemption to those contributing to construct the mosque in Ayodhya, for which the Supreme Court had allotted five acres in the Babri Masjid-Ramjanmabhoomi land dispute case, the trust overlooking the project said.

GST Council Meeting Key Takeaways: Finance Minister announced that the integrated goods and services tax (IGST) is exempted on free COVID-related essential items till August 31, 2021.

Bengal Chief Minister Mamata Banerjee wrote to Prime Minister Narendra Modi on Sunday, asking for tax waivers on the import of medicines and equipment needed to fight the COVID-19 pandemic

This exemption for receiving cash payment of over Rs 2 lakh amid COVID-19 treatment is made only for the period between April 1 -May 31, 2021, said the Income Tax department.

Finance Minister Nirmala Sitharaman on Thursday said salary income earned by non-resident Indians in Gulf countries would continue to be exempt from tax in India.

Centre has given tax exemption on transfer of assets by the national carrier to its special purpose vehicle Air India Assets Holding Limited.

Papad, whatever its shape or name, is exempted from GST, the government's indirect taxation agency clarified today after a social media post claimed that a round papad is exempted from the tax while a square variant attracts it.

The Income-Tax rules explicitly mention the incomes exempted from taxation, but there's no clarity whether they cover cryptocurrency

The Madras High Court has stayed payment of a Rs 1 lakh fine on actor Vijay for seeking exemption from trying to avoid paying entry tax on the import of a high-end car - a Rolls Royce Ghost - in 2012.

Income Tax Relief Amid COVID-19: The government announced that the amount paid by an employer to employees for COVID-19 treatment would be exempted from tax

Central Board of Indirect Taxes has said that fees paid by students to sit in any examination conducted by Central or state boards won't attract GST.

Supplying food to schools under mid-day meal scheme, pre-schools and anganwadis is exempt from GST, the Central Board of Indirect Taxes and Customs (CBIC) has said.

GST Council Meeting 2021: In the previous GST Council meeting, the tax was exempted on the import of Amphotericin B, a medicine used for the treatment of black fungus infection.

Chhattisgarh Chief Minister Bhupesh Baghel on Tuesday slammed the centre for allegedly keeping out the members of Congress-ruled states from the group of ministers (GoM) constituted by the GST Council for exemption of tax on essential goods related t

The new draft notification states that any electric vehicle (EV) buyer will be exempted from paying a registration fee for a new EV or a fee for renewal of registration as well.

The government has granted tax exemption to those contributing to construct the mosque in Ayodhya, for which the Supreme Court had allotted five acres in the Babri Masjid-Ramjanmabhoomi land dispute case, the trust overlooking the project said.

GST Council Meeting Key Takeaways: Finance Minister announced that the integrated goods and services tax (IGST) is exempted on free COVID-related essential items till August 31, 2021.

Bengal Chief Minister Mamata Banerjee wrote to Prime Minister Narendra Modi on Sunday, asking for tax waivers on the import of medicines and equipment needed to fight the COVID-19 pandemic

This exemption for receiving cash payment of over Rs 2 lakh amid COVID-19 treatment is made only for the period between April 1 -May 31, 2021, said the Income Tax department.

Finance Minister Nirmala Sitharaman on Thursday said salary income earned by non-resident Indians in Gulf countries would continue to be exempt from tax in India.