Web9. As regards the second amount of Rs.1,88,720/- received by the assessee during the year towards the arrears of leave encashment, it is noticed that the assessee claimed exemption u/s 10(10AA)(i) which was refused by the AO by holding the case to be covered under sub-clause (ii) of section 10(10AA). The ld. CIT(A) affirmed the view taken by ... WebLeave Encashment [Section-10(10AA)] for Computing Salary Income. Retrenchment Compensation received by Workmen [Section 10(10B)] Compensation received on Voluntary Retirement [Section 10(10C)] Tax treatment of National Pension Scheme [ NPS] with Deduction under Section 80CCD. Tax Planning for Retirement of the Employee
Section 10 Of Income Tax Act: Exemptions, Allowances & How To …
WebThe deduction under section 10AA shall be allowed as under: 100% of profits of such undertaking from exports from assessment year 2024-19 to assessment year 2024-23. … Web6 Nov 2024 · Amount of deduction (10AA (1)) No. of years. Amount of deduction. For First 5 yrs (1 to 5) 100% of export profits. For the next 5 yrs (6 to 10) 50% of export profits. For … electrochemistry paper
Exempted income under income tax act - SlideShare
Web86 [Special provisions in respect of newly established Units in Special Economic Zones. 87. 10AA. (1) Subject to the provisions of this section, in computing the total income of an assessee, being an entrepreneur as referred to in clause (j) of section 2 88 of the Special Economic Zones Act, 2005, from his Unit, who begins to manufacture or produce articles … Web13 Sep 2024 · However, section (10)(10AA) of the Income Tax Act provides certain relaxations from tax to amounts received on account of unutilised leaves during … WebSection 10AA is a provision under the Income Tax Act which allows taxpayers to take deductions for businesses which are established in Special Economic Zones (SEZ). In … fool theory