2024-12-15 19:17:07
the calculation or the tax is wrong, educaTion cess and surcharge is on tax value not in the total amount, it would be around 42L, not 4.2 Cr Source : [Link] NEEDS_MORE_RATINGS(1-0-2) Author
2024-12-15 21:44:47
As per section 10(17A) of the Income Tax Act, all awards or rewards received by a professional sportsperson from the Central or the State Governments or on behalf of the government are not subject to tax. [Link] NEEDS_MORE_RATINGS(5-0-1) Author
2024-12-16 09:19:27
The mentioned winning amount of ₹11 crore is offered by FIDE for the chess world cup organised in Singapore. It isn't provided by the government of India. The award money is taxable in nature. Link to news: [Link] Another link: [Link] NEEDS_MORE_RATINGS(1-0-0) Author