Webnewspapers is exempt from Sales Tax. This exemption also applies to the sale of such machinery or equipment used by a commercial printer in producing periodicals, books, … WebDiverse Types Of Allowances Under the Income Tax Act . Allowances can either reduce an individual's total taxable income or qualify as tax-exempt income. 1. Standard Deduction . A standard deduction is a deduction of a fixed amount from gross total income. The amount of deduction is ₹40,000 for FY 2024-20 (AY 2024-21).
List of Allowances/Perquisites/Deductions available to
WebMar 28, 2024 · 6) Books and periodicals allowance: Books and periodicals allowance is a type of allowance provided to employees for helping them meet the expenses associated … WebOct 21, 2024 · Cost of books and periodicals purchased: ... Such gifts are tax-exempt up to Rs 5,000 annually. In respect of gifts and any other staff welfare payments made by the … the niu form hotel stuttgart
BOOKS AND PERIODICALS EXPENSES - letslearnaccounting.com
Web1 day ago · The Central Board of Secondary Education (CBSE) has been granted an exemption from income tax on examination fees, the sale of books and publications, and other income by the Finance Ministry. This would lower the cost of CBSE textbooks. Additionally, there will be a decrease in the costs associated with the exams. WebApr 11, 2024 · The Finance Ministry has exempted the Central Board of Secondary Education (CBSE) from paying income tax on earnings from examination fees, sale of text books and publications, besides others. The I-T exemption has been given retrospectively from the financial year 2024-2024 (for the period from June 1, 2024 to March 31, 2024) and for … WebEducation allowance: This is fixed at Rs. 100 each month for each child. Note that the exemption is limited only to 2 children. If CEA is applied for a 3rd child, it will not be eligible for reimbursement. Hostel charges allowance: Currently, this allowance is Rs. 300 per child, only for 2 children of a family. michiana mixed horse sale