Web17 Oct 2024 · However, as Section 115BAC(2)(i) covers Section 10(5) in the list of prohibited exemptions or deductions, the assessee opting for section 115BAC (the new tax regime) will not be able to claim this (LTC Cash Voucher Scheme) exemption. Thus, employees opting for the new tax regime will have to pay tax on the amount received … WebTax Laws & Rules > Acts > Income-tax Act, 1961. Income Tax Department > All Acts > Income-tax Act, 1961. Choose Acts: as amended by Finance Act. Section Wise. Chapter …
Old or New Tax Regime? 10 tips to choose which tax …
WebINCOME TAX ASSESSMENT ACT 1997 - SECT 10.5 List of provisions about assessable income The provisions set out in the table: * include in your assessable … WebExemption is allowed only when the person claiming deduction is also travelling. If only family is travelling then deduction is not allowed. The exemption is available only for two … latow soft warm rain pdf
Taxability of Leave Travel Allowance (LTA) Section 10(5)
Web10 Apr 2024 · This is because the old tax regime allows you a tax deduction on principal amount upto Rs 1.5 lakh under section 80C and Rs 2 lakh under section 24(b) on the interest amount for self-occupied ... Web[Conditions for the purpose of section 10(5) . 2B. (1) The amount exempted under clause ( 5 ) of section 10 in respect of the value of travel concession or assistance received by or … WebCharge of income-tax Section - 5 Scope of total income Section - 5A Apportionment of income between spouses governed by Portuguese Civil Code Section - 6 Residence in India Section - 7 Income deemed to be received Section - 8 Dividend income Section - 9 Income deemed to accrue or arise in India 1 2 3 4 5 6 latow plumbing deland