Income Tax Exemption under Section 10(10BC) of Income Tax Act, 1961

Eligible Assessee

Any Individual or his legal heirs

Nature of Income

Any compensation received from State or Central Government on account of any disaster

Amount Exempt

Entire amount

Conditions laid down for Tax Exemption

In case if the assessee is allowed deductions under the IT Act for any payment in connection with any loss or damage caused by such disaster, the same shall not be allowed under this clause.
The expression "disaster" shall have a meaning as defined under section 2(d) of Disaster Management Act, 2005.

How to earn Tax free income? Incomes exempted from tax under Income Tax Act, 1961

Free download of Income Tax Return Filing Official Software

Time Limit for Filing Appeal with Commissioner of Income Tax (CIT) Appeals and Income Tax Appellate Tribunal (ITAT) - Fee for filing Income Tax Appeals

Advance Payment of Income Tax

Tax Deducted at Source (TDS) Rates from Financial Year 2013-14 (Assessment Year 2014-15)

Tax Deducted at Source (TDS) Rates

Income Tax Rates Financial Year 2012-13

Income Tax Rates Financial Year 2013-14

Important Due Dates

Audit requirement for business and profession under section 44 AB of Income Tax Act 1961

Income Tax Exemption under Section 10 of Income Tax Act, 1961

Deductions allowed from Gross Total Income under Chapter VI A of Income Tax Act, 1961

Tax saving schemes and deductions available against investment

How to calculate Value of Perquisites for accommodation provided by the employer to employee: Income Tax Rule 3 (1)

How to calculate Value of Perquisites by way of use of motor vehicle by an employee provided by the employer to employee: Income Tax Rule 3(2)(A)

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