Withdrawal Of Tax Exemption
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Budget 2021: Phones May Get Costlier as Exemptions Revoked, Analysts Say It's a 'Short-Term' Issue
In the Budget 2021 speech, Finance Minister Nirmala Sitharaman announced mobile phone parts like the Printed Circuit Board Assembly (PCBA), Camera Module, and Connectors will see a withdrawal of exemption from custom duty and a moderate 2.5 percent tax will be levied, instead of the ‘nil’ rate offered earlier. Similarly, parts and sub-parts for...
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Budget 2020: How To Avail Income Tax Benefits Under National Pension Scheme
NPS offers two types of accounts: Tier 1 and Tier 2. While the Tier 1 NPS account is strictly a pension account which doesn't allow withdrawals, while the Tier 2 account - known as investment account - is a voluntary saving account associated with Permanent Retirement Account Number (PRAN).
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Tax Tribunal Withdraws Exemption To Congress-Controlled Young Indian
The Income Tax Appellate Tribunal (ITAT) has ruled that the withdrawal of income tax exemption to Young Indian, an entity controlled by Congress president Sonia Gandhi, her family and others, by the tax department is correct and it cannot be called a charitable organisation.
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Jaypee Infratech Resolution Faces Stalemate Over NBCC Bid Conditions
Lenders of JIL asked NBCC in its meeting on Friday to withdraw some of its clauses, including that of exemption from a tax liability
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Public Provident Fund (PPF) Accounts To Offer More Benefits: 10 Points
PPF or public provident fund is one the most popular saving schemes. Apart from higher interest rates compared to bank deposits, PPF also offers a host of income tax benefits. In terms of income tax implications,PPF enjoys an EEE - exempt, exempt, exempt - status. This means the contribution, interest and maturity proceeds are all tax-free. PPF con...
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NPS: New Income Tax Benefits, Withdrawal Rules And Other Details
An employee contributing to the NPS is allowed an exemption in respect of 40 per cent of the total amount payable to him or her on closure of account or on opting out. This exemption will now be available to non-employee subscribers.
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Latest NPS Partial Withdrawal Rules Explained In 10 Points
Partial withdrawal of 25 per cent of the contribution made by a subscriber has been exempted from income tax, according to Budget 2017-18.
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PF Withdrawal After You Quit Job: Important Income Tax Ruling You Need To Know
Accumulated balance of an EPF (Employee Provident Fund) account only up to the date of leaving employment will be exempt from income tax, says a tax expert.
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PPF Partial Withdrawal, Loan Facility And Other Rules In 10 Points
PPF enjoys EEE or exempt, exempt, exempt status in terms of income tax implications - contribution, interest and maturity proceeds all are tax free.
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Gratuity Benefit Limit, Tax-Free Withdrawal To Get Doubled: 5 Things To Know
Recently, trade unions agreed on the proposal of doubling gratuity ceiling upon in discussions with labour ministry, according to Press Trust of India.
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Pension Regulator Hails NPS Tax Exemption, Bats For Parity
Tax exemption of up to 40 per cent of the retirement corpus at the time of withdrawal under NPS is a big step by the government and going forward, there may be more parity between existing pension schemes, PFRDA Chairman Hemant G Contractor said on Wednesday.
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NPS Withdrawals Made Partially Income-Tax Exempt: Should You Invest?
NPS allows for an exit at the age of 60 but an investor has to annuitise (invest in pension schemes) a minimum of 40 per cent of the corpus.
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Government to Notify Categories of Employees Exempt From EPF Tax: Report
The government will notify categories of employees who will be excluded from the controversial tax proposal on provident fund withdrawals, a Finance Ministry official said on Friday.
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'Withdrawl of Tax Exemption to Negatively Impact Innovation'
Withdrawal of tax exemption for research and development is likely to negatively impact India's innovation efforts, pharma major Dr Reddy's Laboratories said today.
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Indirect Tax Collections Grow 36.5% to Rs 2.63 Lakh Crore
The indirect tax collection reflects hike in excise duty on diesel and petrol, withdrawal of exemptions for motor vehicles, increase in clean energy cess and the hike in service tax rate in June.
-
Budget 2021: Phones May Get Costlier as Exemptions Revoked, Analysts Say It's a 'Short-Term' Issue
In the Budget 2021 speech, Finance Minister Nirmala Sitharaman announced mobile phone parts like the Printed Circuit Board Assembly (PCBA), Camera Module, and Connectors will see a withdrawal of exemption from custom duty and a moderate 2.5 percent tax will be levied, instead of the ‘nil’ rate offered earlier. Similarly, parts and sub-parts for...
-
Budget 2020: How To Avail Income Tax Benefits Under National Pension Scheme
NPS offers two types of accounts: Tier 1 and Tier 2. While the Tier 1 NPS account is strictly a pension account which doesn't allow withdrawals, while the Tier 2 account - known as investment account - is a voluntary saving account associated with Permanent Retirement Account Number (PRAN).
-
Tax Tribunal Withdraws Exemption To Congress-Controlled Young Indian
The Income Tax Appellate Tribunal (ITAT) has ruled that the withdrawal of income tax exemption to Young Indian, an entity controlled by Congress president Sonia Gandhi, her family and others, by the tax department is correct and it cannot be called a charitable organisation.
-
Jaypee Infratech Resolution Faces Stalemate Over NBCC Bid Conditions
Lenders of JIL asked NBCC in its meeting on Friday to withdraw some of its clauses, including that of exemption from a tax liability
-
Public Provident Fund (PPF) Accounts To Offer More Benefits: 10 Points
PPF or public provident fund is one the most popular saving schemes. Apart from higher interest rates compared to bank deposits, PPF also offers a host of income tax benefits. In terms of income tax implications,PPF enjoys an EEE - exempt, exempt, exempt - status. This means the contribution, interest and maturity proceeds are all tax-free. PPF con...
-
NPS: New Income Tax Benefits, Withdrawal Rules And Other Details
An employee contributing to the NPS is allowed an exemption in respect of 40 per cent of the total amount payable to him or her on closure of account or on opting out. This exemption will now be available to non-employee subscribers.
-
Latest NPS Partial Withdrawal Rules Explained In 10 Points
Partial withdrawal of 25 per cent of the contribution made by a subscriber has been exempted from income tax, according to Budget 2017-18.
-
PF Withdrawal After You Quit Job: Important Income Tax Ruling You Need To Know
Accumulated balance of an EPF (Employee Provident Fund) account only up to the date of leaving employment will be exempt from income tax, says a tax expert.
-
PPF Partial Withdrawal, Loan Facility And Other Rules In 10 Points
PPF enjoys EEE or exempt, exempt, exempt status in terms of income tax implications - contribution, interest and maturity proceeds all are tax free.
-
Gratuity Benefit Limit, Tax-Free Withdrawal To Get Doubled: 5 Things To Know
Recently, trade unions agreed on the proposal of doubling gratuity ceiling upon in discussions with labour ministry, according to Press Trust of India.
-
Pension Regulator Hails NPS Tax Exemption, Bats For Parity
Tax exemption of up to 40 per cent of the retirement corpus at the time of withdrawal under NPS is a big step by the government and going forward, there may be more parity between existing pension schemes, PFRDA Chairman Hemant G Contractor said on Wednesday.
-
NPS Withdrawals Made Partially Income-Tax Exempt: Should You Invest?
NPS allows for an exit at the age of 60 but an investor has to annuitise (invest in pension schemes) a minimum of 40 per cent of the corpus.
-
Government to Notify Categories of Employees Exempt From EPF Tax: Report
The government will notify categories of employees who will be excluded from the controversial tax proposal on provident fund withdrawals, a Finance Ministry official said on Friday.
-
'Withdrawl of Tax Exemption to Negatively Impact Innovation'
Withdrawal of tax exemption for research and development is likely to negatively impact India's innovation efforts, pharma major Dr Reddy's Laboratories said today.
-
Indirect Tax Collections Grow 36.5% to Rs 2.63 Lakh Crore
The indirect tax collection reflects hike in excise duty on diesel and petrol, withdrawal of exemptions for motor vehicles, increase in clean energy cess and the hike in service tax rate in June.
