![]() ![]() (8) Any document or instrument executed pursuant to a tax sale conducted by the United States or any agency or instrumentality thereof or the State or any agency, instrumentality, or governmental or political subdivision thereof for delinquent taxes or assessments (7) Any deed, lease, sublease, assignment of lease, agreement of sale, assignment of agreement of sale, instrument or writing in which the United States or any agency or instrumentality thereof or the State or any agency, instrumentality, or governmental or political subdivision thereof are the only parties thereto (6) Any document or instrument conveying real property that is executed pursuant to an agreement of sale, and where applicable, any assignment of the agreement of sale, or assignments thereof provided that the taxes under this chapter have been fully paid upon the agreement of sale, and where applicable, upon such assignment or assignments of agreements of sale (5) Any document or instrument in which there is a consideration of $100 or less paid or to be paid (4) Any document or instrument between husband and wife, reciprocal beneficiaries, or parent and child, in which only a nominal consideration is paid (3) Any document or instrument that only confirms or corrects a deed, lease, sublease, assignment, transfer, or conveyance previously recorded or filed (2) Any document or instrument that is given to secure a debt or obligation (1) Any document or instrument that is executed prior to Janu The tax imposed by section 247-1 shall not apply to: Our experts suggest the best funds and youĬan get high returns by investing directly or through SIP.§247-3 Exemptions. Save taxes with ClearTax by investing in tax saving mutual funds (ELSS) online. ClearTaxĬan also help you in getting your business registered for Goods & Services Tax Law. Our Goods & Services TaxĬourse includes tutorial videos, guides and expert assistance to help you in mastering Goods and Services Tax. Our GST Software helpsĬAs, tax experts & business to manage returns & invoices in an easy manner. Further you can also file TDS returns, generateįorm-16, use our Tax Calculator software, claim HRA, check refund status and generate rent receipts for Income TaxĬAs, experts and businesses can get GST ready with ClearTax GST software & certification course. You can efile income tax return on your income from salary, house property,Ĭapital gains, business & profession and income from other sources. Just upload your form 16, claim your deductions and ClearTax serves 1.5+ Million happy customers, 20000+ CAs & tax experts & 10000+ businesses acrossĮfiling Income Tax Returns(ITR) is made easy with ClearTax platform. ![]() As per Section 10(45), the conveyance allowance offered to members of UPSC or chairman is not charged to tax.ĬlearTax offers taxation & financial solutions to individuals, businesses, organizations & chartered accountants The exemption limit for orthopedically handicapped and blind people is Rs. Additionally, the exemption can be claimed by an individual salaried employee and it would be as follows. Travelling expenses incurred while performing official duties. Allowance by employer to meet daily charges incurred on account of absence from usual place of duty. Allowance by employer to meet the cost of travel on tour or transfer including rail fare, airfare etc. The new tax regime allows an individual to claim the following exemptions – ExemptionsĪny amount paid above the conveyance allowance limit is charged to tax under the head Income from Salaries. Rs.1,600 per month or Rs.19,200 per year irrespective of the tax bracket an individual falls into. The calculations of the conveyance allowance are based on limits that are absolute at Rs. The exemption can be claimed under Section 10 (14 (ii)). This is in addition to the basic salary component and may or may not be taxed under the Income Tax Act. Also known as transport allowance, conveyance allowance is offered to the employees of the company to compensate for the travel of the employee from the residence to and from the workplace. ![]()
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