Ad-Free CAclubindia and Daily Updates on your mobile. Subscribe Now!

Ex.Ex.Tax

CA VISHAL B.DAVE (employee) (25 Points)

23 July 2007

hi friends,

i would like to know about Exempt Exempt Tax. Kindly share with me and others to let us know about it exactly.

Reply
Follow
Share

1 Replies

Naresh Kansala (Visit www.nkansala.in for more article) (1425 Points)
Replied 23 July 2007

hi dear as know ex. ex. tax is a provision under tax where exmepted incomes under chapter VI are combined together & they combinelly exmepted but if any other income drived from that expted incomes then that income is taxable in hands of assessee . eg: if assessee purchase IVP & NSE it is expted form tax but interest recieved is taxable in hands of assessee that is expt-expt-tax