incomes that are exempt from tax u/s 10
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 July 2010
sir, can u please explain me section 10(4) and 10(4B) of income tax....?????
please sir....!!!!!
thanks a lot in advance.... plzz help me out!!!
please sir....!!!!!
thanks a lot in advance.... plzz help me out!!!
03 July 2010
10(4)
Income Exempt: Interest Income on notified Govt Securities and Bonds is exempt.
This section is applicable to Non residents.( Foreigners included)
10(4B)
Income Exempt: Interest Income on notified Saving Certificates is exempt.
This section is applicable to Non Resident Indians only. ( Non Resident+ person of Indian Origin or Indian Citizen)
Basically both sections 10(4)(i) and 10(4B)(i) are related with Interest Receivable from the Govt by NR or NRI.
10(4)(ii)
Interest on Non Resident External A/c in any bank in India is exempt for NRIs.
The deposits in NRE A/c is made in convertible foreign exchange by NRIs. This section is inserted for bringing more Foreign Exchange to our country.
.
Income Exempt: Interest Income on notified Govt Securities and Bonds is exempt.
This section is applicable to Non residents.( Foreigners included)
10(4B)
Income Exempt: Interest Income on notified Saving Certificates is exempt.
This section is applicable to Non Resident Indians only. ( Non Resident+ person of Indian Origin or Indian Citizen)
Basically both sections 10(4)(i) and 10(4B)(i) are related with Interest Receivable from the Govt by NR or NRI.
10(4)(ii)
Interest on Non Resident External A/c in any bank in India is exempt for NRIs.
The deposits in NRE A/c is made in convertible foreign exchange by NRIs. This section is inserted for bringing more Foreign Exchange to our country.
.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Supply through E-commerce Operators
- TAN for Partnership
- Relief u/s Section 89
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Taxation on LTCG for property sold after 24JUL2024
- E way bill for tractors
- SALE BILL AGAINST GOODS RETURN
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
