The compensation received at the time of voluntary retirement or separation is exempt from income
NATIONAL PENSION SYSTEM (NPS)
The National Pension System (NPS) is a retirement savings scheme set up by the Government
SALARY
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TAX TREATMENT IN THE HANDS OF COMPANY ISSUING SUCH BONDS
Zero-coupon bonds under Income Tax Act: A zero-coupon bond is a bond that does not pay
GUIDELINES FOR NOTIFICATION
The Income Tax Act, 1961 (the Act) is the main law governing income tax in
MEANING OF ZERO-COUPON BOND
A zero-coupon bond is a bond that does not pay interest during its term. Instead,
DISCOUNT ON COUPON BONDS
The discount on a coupon bond is the difference between the face value of the
INTREST ON BORROWED CAPTIAL [SEC.36(1)(iii)]
Section 36(1)(iii) of the Income Tax Act, 1961 allows a deduction for the amount of
BONUS OR COMMISION TO EMPLOYEES [SEC.36(1)(ii)]
Section 36(1)(ii) of the Income Tax Act, 1961 allows a deduction for any sum paid
INSURANCE PREMIUM ON HEALTH OF EMPLYOEES [SEC.36(1)(ib)]
Section 36(1)(ib) of the Income Tax Act, 1961 allows a deduction for the insurance premium