It Section 10 Exemptions
Exemption under section 10 1 on agricultural income if you earn any type of agricultural income in a financial year.
It section 10 exemptions. Rent or revenue earned from a land located in india which is used for agricultural purposes income earned from an agricultural land located in india by doing agricultural. Sumptuary allowance received by supreme court and high court judge. Is not engaged in any commercial activity.
Provisions of section 10 14 i provide exemption towards prescribed special allowance or benefits granted to the employees to meet expenses wholly exclusively and necessarily towards the performance of the official duty. There are certain individuals who also receive allowances exempt under section 10. And it shall not be.
Allowance given to a uno employee. Section 10 10d exemption on tax of lic if any money is received by the policyholder when a member of the family or the policyholder is suffering from any. Allowances granted to government employees who are indian citizens.
In case of any other employee. Following are the tax exemptions provided under section 10. An amount equal to the least of the following will be exempt from tax.
Leave travel allowance lta lta is exempt to a certain extent for domestic travel under section 10 5 of income tax. A the medicinal product is prepared or dispensed in a hospital or health centre by or under the supervision of a pharmacist and in accordance with a doctor s prescription. Exemption of specified income of certain bodies or authorities section 10 46 has been established or constituted by or under a central state or provincial act or constituted by the central.
If any sum is received under the policy of key man insurance. Section 10 of the act exempts pharmacists from the licensing requirements ml pl in the following circumstances. And is notified by the central government in the official.