Wednesday, October 31, 2018

PF balance accumulated post-retirement of employee not eligible for tax exemption: ITAT

IT: Exemption under section 10(12) is limited to accumulated balance due and payable to an employee up to date of retirement/end of employment; if employee does not withdraw accumulated balance just after retirement, accumulated interest post-retirement of assessee is not eligible for exemption under section 10(12)

from www.taxmann.com Latest Case Laws https://ift.tt/2qlRQFI

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

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