TAX
This query is : Open
18 July 2011
DEAR SIR,
AGRICULTURE INCOME, EDUCATIONAL INSTITUTIONS INCOME & HOTEL INCOMEE ARE EXEMPT FROM TAX OR NOT?
AGRICULTURE INCOME, EDUCATIONAL INSTITUTIONS INCOME & HOTEL INCOMEE ARE EXEMPT FROM TAX OR NOT?
18 July 2011
Only Agriculture income is exempt.
Educational Institutions Income is taxable however, if it is run by a trust and following provisions of Section 11 to 13. its income may exempt, but under certain conditions.
Income of Hotel is not exempt however in certain cases deductions under chapter VIA can be availed.
Educational Institutions Income is taxable however, if it is run by a trust and following provisions of Section 11 to 13. its income may exempt, but under certain conditions.
Income of Hotel is not exempt however in certain cases deductions under chapter VIA can be availed.
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