WebProvision under this section is: Section 10AA of Income Tax Act "Special provisions in respect of newly established Units in Special Economic Zones" 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 of the Special Economic Zones Act ... WebDuring the relevant assessment year (AY), the taxpayer claimed deduction under Section 10AA. It was allowed by the tax department with reference to the income computed under the business head of the SEZ unit after considering tax depreciation and investment allowance under the Act.
Income Tax Act Section 143 (1) Intimation - Eligibility, Types
WebJun 28, 2024 · Less : Exempt under section 10 (10AA) [See Note below] Rs 26,400 Taxable Leave Salary Rs 4,73,600 Exemption is least of the following: 1) Statutory Limit Rs … Web2 days ago · 1. Presumptive taxation regime of Section 44AD of the Act. The objective of section 44AD of the Act is to provide a presumptive income scheme for small taxpayers … chili\\u0027s 2 for 10
Leave Encashment Salary Exemption - Sec. 10(10AA) - Income Tax …
WebMay 19, 2024 · Section 10AA of the Income Tax Act 196, permits taxpayers to deduct expenses related to enterprises located in Special Economic Zone (SEZ). To encourage … WebMar 28, 2024 · As per Income tax, 1.If this leave salary is provided during tenure of service , it is fully taxable 2.However if it is provided after retirement , then it is fully exempt for government employees. 3.However for non government employee ,the amount exempt is lower of Actual Amt Received 300000 10 Month Average Salary WebMay 9, 2024 · Section 10 of the Income Tax Act, 1961 (Act) vide its clause (10AA) provides for income tax exemption from leave encashment or leave salary received at the time of retirement, resignation or otherwise termination of employment.The exemption under section 10(10AA) from encashment of leave salary can be availed under the given … chili\\u0027s 2 for 1 drinks