Exemption of income of Chief Minister’s Relief Fund or the Lieutenant Governor’s Relief Fund. 9.1 Section 10(23C) of the Income-tax Act provide exemption in respect of income of certain funds which include inter alia the Prime Minister’s National Relief Fund. 9.2 The Chief Minister’s Relief Fund or the Lieutenant Governor’s Relief Fund, referred to in… Read More »
FINANCE BILL 2018 Budget 2018 : Finance Bill 2018 : Download Budget 2018-19 : Notes on clauses of Finance Bill 2018 PROVISIONS RELATING TO DIRECT TAXES Introduction The provisions of Finance Bill, 2018 relating to direct taxes seek to amend the Income-tax Act, 1961 (hereafter referred to as ‘the Act’) to continue to provide momentum… Read More »
Finance Bill 2018 Download : Budget 2018 Download Finance Bill 2018 Copy Memorandum Explaining the Provisions in The Finance Bill, 2018
Parliamentary Affairs Minister, Ananth Kumar said that the Budget Session of the Parliament will begin on January 29, 2018 and the Union Budget 2018 will be presented by the Finance Minister on February 1 2018. Both the houses of the Parliament, i.e., Rajya Sabha and Lok Sabha will have a joint sitting on 29th January,… Read More »
Provide Tax benefit on Medical reimbursements for retired employees: ICAI Issue/Justification Under section 17 of the Income tax Act, medical reimbursements to employees are exempted from tax up to Rs. 15,000 per annum. Further, the expenditure incurred by the employer for the medical treatment of the employees and his family in approved hospitals is also… Read More »
ICAI submits Pre-Budget Memoranda-2018 – (11-12-2017) PRE-BUDGET MEMORANDUM – 2018 DIRECT TAXES AND INTERNATIONAL TAX 1.1 The Council of the Institute of Chartered Accountants of India considers it a privilege to submit this Pre-Budget Memorandum – 2018 on Direct Taxes and International tax to the Government. The memorandum contains suggestions for the consideration of the… Read More »