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PPF interest is exempt under which section of Income Tax Act 1961?
Wiki User
∙ 12y ago
section 10(11)
Wiki User
∙ 12y ago
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What are Exempt income under income from other sources?
Exempt interest and exempt dividends from qualified municipal bonds.
Under which section is dividend income exempt according to Income Tax Act 1961?
Under section 10(34) dividend form a domestic company OS exempt.
Interest on ppf is exempt under which section?
10(11)
Under what circumstances is a bond exempt from all taxes?
If the municipal bond is issued by the jurisdiction in which the bondholder resides, the interest is tax-exempt from both the federal government and the state government. If there is a local income tax, the interest is tax-exempt at this level, too.
Where is i reported in the financial statements?
Need more clarification: i = interest? (if expense: shown in income statement, under expenses. if revenue: shown in income statement, under revenues) i = investment? (is an asset, showin in the asset section of the balance sheet) i = income? ( shown in the income statement)
How abnormal loss in income statement?
abnormal loss is part of income statement and shown under other losses section or abnormal losses section of income statement.
How is interest on loans income treated in the books of a bank?
As long as the loan account is under standard category, the interest on such loan is treated as income, as the sub standard loan accounts does not earn interest and hence, the interest on such loans can not be considered as income
What is the yearly minimum income needed to pay incomes taxes?
Depends on state-generally under 3k to be exempt.
Are kingdom halls tax exempt?
In the United States, kingdom halls of Jehovah's Witnesses are typically tax exempt as religious organizations under section 501(c)(3) of the Internal Revenue Code. This exempts them from paying federal income tax on their income and donations. Each country may have specific regulations regarding tax exemption for religious organizations.
Unearned rental income is disclosed under which section of the Balance Sheet?
unearned rental income is disclosed under which part? asset or liability?
Is interest on fixed deposit located on income statement or balance sheet?
both.. balance sheet under liquid asset..income statement under inflow/income..
Can an income judgment attach themselves to your SSD and Miliary disability?
Generally, courts consider federal disability income to be exempt from garnishment. Disability income includes Social Security disability, or SSI, and most federal pension benefits are also exempt from judgments. Military and federal student benefits fall under the same category.
