Question
Under the Income Tax Act, 1961, which of the following
incomes is fully exempt from tax in the hands of the individual taxpayer?Solution
As per Section 10(1) of the Income Tax Act, 1961, agricultural income is fully exempt from income tax under the Indian tax law. This exemption arises because agriculture is a state subject and agricultural income is not included in the purview of income tax for individuals. Other incomes such as salary, capital gains, and interest income are taxable under various sections of the Act.
Jurisprudence is a latin term which means
As per the Motor Vehicles Act where the applicant does not pass the test; he may be permitted to re-appear for the test _________________
Whoever, being in the manner entrusted with property or having dominion over property dishonestly misappropriates or converts to his own use that prope...
As per the provisions of the IRDA Act with respect to the tenure of office of the chairperson and other persons, no person shall hold office as a Chairp...
What does FDCA stands for?
Which are the two essential elements of an offence?Â
Iddat is a period during which a Muslim woman is prohibited from marrying on dissolution of marriage:
A company limited by shares is a type of company where the liability of its members is ________________
What is the key element in a negligence claim?
Who can be appointed as the President of the NCLT?
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