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Income Tax Exemptions


1. Income Tax Exemptions: Any donations to IMA are exempted under income tax 80G

 

2.  Section 28 in The Income- Tax Act, 1995: Profits and gains of business or profession: The following income shall be chargeable to income- tax under the head" Profits and gains of business or profession",- (iv) the value of any benefit or perquisite, whether convertible into money or not, arising from business or the exercise of a profession;]