Dear Experts ,
Can you pls share what are the list of exemptions under new tax regime , beside 10(10AA) - Leave Encashment , 10(10C) - Voluntary Retirement Compensation and Section 10(10) - Gratuity ?
is there any exemptions u/s 10 or any other section , that can be mentioned under OTHERS ?
Best Regards
Some of the exemptions under Section 10 include:
10(1) - Agricultural income
102)- Amount received by a member from HUF
10(7)- Perquisites/ allowances for employees posted abroad
10(13A) - House Rent allowance (HRA)
10(17)-Allowances for MPs/MLAs
10(32)- Income of minor child clubbed with parent's income (exemption limit)
Other sections providing exemptions include: Section 54 - Exemption on capital gains from sale of residential house
Section 54F-/Exemption on capital gains if invested in a residential house.
Thanks Rama Ji ,
any other section that covers medical expenses and school fees/donations in the new tax regime pls ? ?
I also heard NTR also allows these below exemptions ? can you pls confirm ?
10(12) - employer EPF contribution
10(10B) - retrenchment compensation
Regards
CAclubindia
