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Income Tax Exemption

ITAT allows Income Tax Exemption to Society engaged in imparting Education through Schools [Read Order]

Taxscan Team

The Income Tax Appellate Tribunal (ITAT), Delhi has allowed income tax exemption to society engaged in imparting education through schools on an...

Income Tax Exemption for Disabled Personnel of Armed Forces applicable to all Officers and Jawans:...

CBDT notifies Income Tax Exemption to Indian Institute of Science Education and Research [Read...

Finance Ministry enhances Income Tax Exemption for Gratuity

Income Tax Exemption available for New House purchased in Foreign Countries: ITAT [Read Order]

Compulsory Acquisition of Urban Land eligible for Tax Benefit: ITAT [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Cochin bench has held that the compulsory acquisition of urban land is eligible for tax deduction under the Income Tax Act, 1961. The Assessing Officer...

Budget 2019 Expectations: Govt may Double Income Tax Threshold Limit

In a major relief to taxpayers, the Central Government may take a major decision in the upcoming interim budget to increase the exemption limit for income tax to five lakhs from the current 2.5 lakhs....

Houseboat purchased for using as Residential House not eligible for Capital Gain Exemption: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Rajkot has held that a houseboat purchased for use as a residential house by the assessee is not eligible for capital gain exemption under section 54 of the...

American School of Bombay eligible for Income Tax Exemption: ITAT [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the American School of Bombay is eligible for income tax exemption under the Income Tax Act. The Assessing Officer had...

No Income Tax Exemption to Urban Improvement Trusts: Supreme Court [Read Judgment]

A two-judge bench of the Supreme Court on Friday held that Urban Improvement Trusts constituted under the Rajasthan Urban Improvement Act, 1959 would not be entitled to tax benefit under section...

Income Tax Exemption to MIDC for payment on Land Lease Receipts: ITAT [Read Order]

In a significant ruling, the Income Tax Appellate Tribunal (ITAT), Mumbai bench has granted relief to the Maharashtra Industrial Development Corporation (MIDC) and held that the entity is not liable...

CBDT Notifies Income Tax Exemption to Press Trust of India [Read Notification]

The Central Board of Direct Taxes (CBDT) has notified Income Tax Exemption to the Press Trust of India. The Press Trust of India Limited, New Delhi” as a news agency set up in India solely for...

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