ECONOMICS
INCENTIVES
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Taxi Exit
|
|
|
Snoop Dog
|
|
|
Tax Pimped
|
|
|
Tax Exempt
|
Detailed explanation-1: -A tax exemption is the right to have some or all of one’s income exempt from country’s taxation. The majority of taxpayers are eligible for a number of exemptions that can be used to lower their taxable income, while some people and organisations are fully free from paying taxes.
Detailed explanation-2: -Income that is non-taxable is called as exempt income. Under Section 10, there are different sub-sections that define what kind of income is exempt from tax. This can range from agricultural to house rent allowance.
Detailed explanation-3: -The government typically exempts organizations from income tax entirely when they serve the public good, such as religious or charitable organizations. The government eliminates the tax burden of certain organizations it helps them further promote public welfare.
Detailed explanation-4: -Senior Citizen Savings Scheme (SCSS) Sukanya Samriddhi Yojana (SSY) National Pension Scheme (NPS) Public Provident Fund (PPF) National Pension Scheme (NPS) 30-Jan-2023
Detailed explanation-5: -House Rent Allowance. Leave Travel Allowance (LTA) Food coupons. Salary component. Reimbursements. Proof. House rent allowance (HRA) Rent amount for residential housing. More items