Page 2 - Tax Exemption

FinMin plans to review exemption-free tax regime to make it more attractive

The finance ministry is proposing to soon review the exemption-free new tax regime with a view to making it more attractive for individual income taxpayers, sources said

Tax benefit available only if death certificate mentions Covid, say experts

For exemption on Covid-19 payments, file revised return for FY 2021-22, updated return for earlier years

Legal heir bound by law to file deceased's tax return for year of death

Failure to do so can result in penalties for the legal heir

Understanding capital gains tax exemption under Section 54

Taxes are levied on earnings made from sale of residential property as well. It is known as capital gains tax. But did you know that in some cases you can save yourself from this tax? Find out how

Limit Section 54 benefit to curb money laundering

Section 54 tax exemption should not be available if the taxpayer already owns two or more properties on the date of sale of property

Want to push new exemption-less tax regimes further: Revenue Secretary

'This year we should have got Rs 60,000-80,000 crore as capital gains tax', said Tarun Bajaj

How hiccups in P-note GIFT plan could impact wide-scale adoption

Use of the instrument has been falling over time

Top headlines: Microsoft, Telangana seal deal; Budget may give tax breaks

Microsoft and the Telangana government have finalised a deal to set up a Rs 15,000-crore data centre in Hyderabad

Insurers seek hike in tax exemption for higher adoption of pure risk plans

Currently, under Section 80C of the Income Tax Act, an individual can claim a deduction of the life insurance premium paid from his/her taxable income

Tribunal sets aside I-T order denying charitable entity status to BCCI

Rejects tax authorities' argument that IPL is a money-making exercise disguised as cricket promotion

Odisha announces full tax exemption for EVs, registration fee waiver

The exemption, granted under the Odisha Motor Vehicles Taxation Act, is applicable till 2025

Centre exempts tax on expenses incurred for Covid-19 treatment

This exemption is applicable to any amount paid by the employer, and limited to Rs 10 lakh if received from any other person, the finance ministry notified

Invest in spouse or child's name to avail of exemption, say analysts

Both Sections 54 and 54F allow taxpayers to claim exemption from tax on long-term capital gains

Budget new rules on holding firms queer pitch for sovereign, pension funds

A proposed regime requiring investments through holding companies may have tax implications, say experts

Budget sops may spur up to 10% Mauritius funds to relocate to IFSC

Experts say while global funds may want to consider shifting their India portfolios to IFSC, the move would result in splitting the fund into two, which may not be acceptable to investors

Taxes, housing, and income: How does the Budget work for your money

FM offers a slew on incentives for senior citizens and affordable house buyers, apart from easing tax compliance

Budget 2021 offers tax sops for aircraft leasing in GIFT City

Tax holiday on capital gains, tax exemption for aircraft lease rentals paid to foreign lessors

Union Budget made easy: Five key things you need to know

Do you get intimidated by Budget terminology? Business Standard's Bindisha Sarang explains a glossary of terms used by the Finance Minister in her speech on February 1. Watch this short video on five key things you should about the Union Budget.

Raising exemption limit at the cost of tax reform a 'dangerous' proposal

Spurring demand or increasing investments -- what is the bigger challenge for the FM in this Budget? Tune in to learn why it would be prudent for the govt to allocate more for capital expenditure

Beyond Budget Headlines: Raising tax exemption limit a 'dangerous' proposal

The Budget is going paperless. The move was expected, as printing documents during Covid pandemic is problematic. So, how should people access the documents? In the sixth episode of ‘Beyond Budget Headlines with AKB’, Business Standard’s special video series in the run-up to Budget 2021, we also discuss the speculation and consequences of raising the tax exemption limit and the possibilities of implementing a Covid cess or surcharge. The move of raising exemption limit could see income tax rates increasing for those earning above Rs 5 lakh, says our in-house policy expert A K Bhattacharya, as he terms it a 'dangerous' proposal. Spurring demand or increasing investments -- what is the bigger challenge for the Finance Minister in this Budget? Watch this episode to learn why it would be prudent for the government to allocate more for capital expenditure