Tag Archives: 10(37) of income tax act

New Income Tax Depreciation Rates for Motor Vehicles : CBDT Notification No 69 /2019

By | September 22, 2019
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New Income Tax Depreciation Rates for Motor Vehicles The Central Board of Direct Taxes (CBDT) has notified new depreciation rate of 30% on motor cars (other than those used in a business of running them on hire) & 45% on Motor buses, motor lorries and motor taxis used in a business of running them on… Read More »

Section 10(37) Income Tax – Exemption on Transfer of Agricultural Land : Compensation received on compulsory acquisition

By | March 17, 2017
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Section 10(37) Income Tax Act [ Section 10(37) Income Tax inserted by the Finance (No. 2) Act, 2004, w.e.f. 1-4-2005 ] Exemption of capital gains on compensation received on compulsory acquisition of agricultural land situated within specified urban limits Relevant Section 10(37) Income Tax Act Incomes not included in total income. 10. In computing the total… Read More »