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Income Tax - Highlights / Catch Notes

Home Highlights May 2020 Year 2020 This

Exemption from income-tax - compensation received in respect of ...

Income Tax

May 21, 2020

Exemption from income-tax - compensation received in respect of award or agreement which has been exempted from levy of income-tax vide section 96 of the RFCTLARR Act shall also not be taxable under the provisions of income-tax Act, 1961 even if there is no specific provision of exemption for such compensation in the Income-tax Act, 1961

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