is ta exempted from income tax?
241511
If you were receiving transport allowance from your employer till FY 2017-18, as a taxpayer, you can claim up to Rs 1,600 per month or Rs 19,200 per annum as exempt from tax before arriving at gross income chargeable to tax. In case of blind, deaf, or handicapped employees, the exemption limit is Rs 3,200 per month.
582392
Interest income derived by any individual from deposits with an approved bank or a finance company licensed under the Finance Companies Act in Singapore, is exempt from tax.
263817
Tennessee does not have a standard income tax. Social Security retirement benefits and income from retirement accounts are not taxed at the state level.
810850
Many taxing jurisdictions require select taxable products to be temporarily exempt from tax on specific dates. ... Sales tax holidays may be applied to sales sold by Amazon.com and its affiliates, including marketplace sellers. However, tax may still be calculated on items if they do not qualify.
850441
The Strike Pay that you receive from your union is considered by the CRA to be non-taxable income. ... The reason strike pay is tax-free because of a Supreme Court decision in 1990. The Supreme Court ruled that strike pay is not income because it is meant to sustain a labourer during a strike, not replace a full income.
1405545
Under Section 192, TDS is deducted at the time of actual payment of salary and not during the accrual of salary. Tax will also be deducted if your employer pays salary in advance to you or you receive arrears from him. In case your estimated salary is not more than the basic exemption limit, TDS will not be deducted.
1169839
Interest income earned on NSC is not exempt from tax and is thus, required to be disclosed in ITR. However, as the same gets accrued and reinvested, it becomes eligible for deduction under Section 80C. ... The interest income received on maturity is taxable as income from other sources.
752826
According to Section 23 (1) of CITA, all NGOs are generally tax exempt, provided they do not have profits derived from any trade or business. ... Foreign NGOs operating in Nigeria are exempt from income tax and are eligible for exemptions from other taxes under double-taxation treaties.
1274190
Your business income is generally exempt from tax if the actual income-earning activities of the business take place on a reserve. If your business is operated entirely on a reserve, your business income is connected to a reserve and is exempt under section 87 of the Indian Act.
158331
Under Section 192 of the Income Tax Act, every employer who is paying a salary income to his employee is required to deduct TDS from the salary income if it exceeds the basic exemption limit.
347245
Traditional TSP Contributions Contributions to a traditional TSP are exempt from federal income tax because the plan is a tax-deferred plan. This means you exclude the contributions when you make them, but you have to pay taxes on the distributions.
1461317
Tolley's Income Tax notes that diplomatic agents (ie heads of mission or members of diplomatic staff) of foreign states are exempt from tax except on income or capital gains arising from private investments or immovable property in the UK under the Diplomatic Privileges Act 1964.
1107116
Currently, annual income up to Rs 2.5 lakh is exempt from income tax. While a 5 per cent tax is charged for income between Rs 2.5 and 5 lakh. 20 per cent for income between Rs 5 lakh and Rs 10 lakh and 30 per cent for those earning above Rs 10 lakh.
263447
Income under the Act includes interest, dividends and foreign dividends. ... If the assets in the ITF account are provided solely from Child Tax Benefit payments, an inheritance or allowance, all income would be attributed and taxable to the beneficiary, and not the trustee.
1390954
While exempt-interest dividends are not subject to federal income tax, they may still be subject to state income tax or the Alternative Minimum Tax (AMT). The dividend income must be reported on the income tax return, and it is reported by mutual funds on Form 1099-INT.
988651
Your retirement benefit is subject to federal income tax (except for previously taxed contributions) but is exempt from New York State income tax.
777935
Deduction under Section 80TTA: Section 80TTA is titled as 'Deduction in respect of interest on deposits in savings account' in the Income Tax Act. ... You can claim exemption on any number of savings accounts as long as the total amount you are seeking exemption on is less than Rs. 10,000.