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.
Pradhan Mantri Awaas Yojana- Gramin (PMAY-G)’s objective is to achieve the objective of “Housing for All” by _____________.
The government has set an ambitious goal of achieving _________ of renewable energy capacity by the end of 2022.
Consider the following items in the two tables and choose the Correct Option.
Consider the following statements regarding the National Housing Bank:
1. It is a refinancing agency and provides financial and other supports to...
Which of the following Organisation signed a loan agreement worth $250 million to improve the education Quality of Schools and anganwadi workers of Andh...
The Goods and Services Tax (GST) is a value-added tax levied on most goods and services sold for domestic consumption. In India, GST Bill was first in...
Socio-Economic and Caste Census was conducted for the first time in ______________.
Which of the following model is used for the development of highways and ports?
The government recently imposed a windfall tax on the export of diesel, petrol and air turbine fuel. With reference to the windfall tax in India, consid...
The provisions relating to promissory notes have been incorporated in which among the following acts?
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