Whether income of all individuals residing in Sikkim has been made tax exempt u/s 10(26AAA)?

The section10(26AAA) of the Income-tax Act, provides exemption from income-tax in respect of income from the sources in the state of sikkim, dividend and interest from securities to the inndividuals, which comes within the definition of "Sikkmese" given in the explanation to the section. This section has been substituted by the Finance Act-2023 with restrospective effect from 01/04/1990.
The Hon. Supreme Court of India in this regard has given directions under section 142 of the Constitution of India in the Judgement in the case of Association of Old Settlers of Sikkim and Ors v. Union of India and Anrs (writ petition (C) No. 59 of 2013) with the case of Rapden Lepcha and Ors v. Union Of India and Anrs ( writ petition (C) No. 1283 of 2021.

[@amiyanand8590]

Thanks for the excellent explanation and updated information and The medium of explanation is completely simple, updated and scientific. Respected sir

[@TaxGyanbyOPYadav]

Thanks dear Anand.

[@karamchanddhama621]

Very useful information Sir. Also very well explained.

[@TaxGyanbyOPYadav]

Thank you very much Dhama Ji. 99 videos on my channel and many more to come. Keep watching and sharing.

[@RAJNEESHKUMAR-ft6oy]

Very effective discussion on new topic Sir🙏

[@TaxGyanbyOPYadav]

Thanks and regards dear Rajneesh Kumar.

[@rajanikantjha9510]

An informative video clearing nuances of the sec 10(26AAA) of the Act.

[@TaxGyanbyOPYadav]

Thanks for liking and sharing your feedback dear Rajani Kant Ji. 99 videos on my channel and many more to come. Keep watching and sharing.

[@manisingh8879]

Sir, very nice and useful information explained so well.

[@TaxGyanbyOPYadav]

Thanks for liking dear Mani Singh Ji .

[@fareedalam2066]

Complicated topic explained in a simpler way, Sir. Very informative 🙏

[@TaxGyanbyOPYadav]

Thanks dear Alam.

[@minipanicker8530]

Thanks Sir, for sharing the useful information

[@TaxGyanbyOPYadav]

Keep watching dear Mini. Thanks and regards.

[@parthasarathiroy4308]

Thank you, Sir for the informative video.

[@TaxGyanbyOPYadav]

Thank you very much dear Partha Sarathi Ji. Keep watching.

[@babulprasadverma2979]

Useful information Sir

[@TaxGyanbyOPYadav]

So nice of you dear Verma Ji. 99 videos on my channel and many more to come, keep watching.

[@deepasikka2392]

Thanks for sharing Sir

[@TaxGyanbyOPYadav]

Thank you Deepa.

[@DharmendraKumar-ti1cd]

Well defined sir 🙏

[@TaxGyanbyOPYadav]

Thank you very much dear Dharmendra

[@LovelySoul510]

Thanks for sharing the information 🙏

[@TaxGyanbyOPYadav]

Thanks and regards.

[@sachinkondke1309]

Thanks for bringing clarity on the subject Sir

[@TaxGyanbyOPYadav]

Thanks dear Sachin.

[@ajaikumarsingh7265]

Sir very useful information

[@TaxGyanbyOPYadav]

So nice of you dear Ajay.

[@yuvrajthakur3990]

Thank you Sir for sharing

[@TaxGyanbyOPYadav]

Thanks dear Yuvraj.

[@rajeshpandey5136]

very well covered Sir 🙏

[@TaxGyanbyOPYadav]

Thanks dear Pandey Ji.

[@rakeshsamdariya3348]

R/Sir Very useful information

[@TaxGyanbyOPYadav]

Thank you very much dear Samdariya Ji.

[@rb.prajapati]

This is extraordinary type of incometax information. Income tax ranges varieties of information.

[@TaxGyanbyOPYadav]

Thank you very much dear Prajapati Ji.

[@roshangemini1]

Sir, came across this truly informative video, I have a specific concern with regards to Short term capital gain tax in Sikkim, is STCG tax applicable to my mother's Demat account on income generated through trading in derivatives segment(NOT by the way of dividend or interest on securities)? Her original place of birth is West Bengal, however,she is married to my father since last 42 years now ,My father and grandfather both are Domicile holders of Sikkim, under the Sikkim Subject regulation act,1961.Her Demat account is with a reputed broker which is NOT based in Sikkim .Thanks in advance

[@TaxGyanbyOPYadav]

Please share your contact number on my email id [e-mail].

[@recreate124]

Sir ek sawaal hai ... Zerodha P&L sheet pe baaki saare segments hai par SGB interest jo bank me credit hota hai uska record nahi milata kya ? Kya mujhe passbook ki saari entries dekhani padegi SGB interest payment dekhane ke liye?? Koi asaan tarika hai kya ?

[@TaxGyanbyOPYadav]

प्रिय पल्लवी, देरी के लिये क्षमा । Zeroda , आपके लिये shares transaction करता है , इसलिये उसकी जानकारी देता है । SGP पर ब्याज Zeroda नहीं देता है ।

[@recreate124]

@@TaxGyanbyOPYadav SGB ke interest ki transactions details ek saath kaha Mila payegi ? Passbook ke alwa?

[@theashok2412]

Sir, i have a query In a immovale property purchase case, If sdv is Rs 50,95,000/- and consideration Is Rs- 49,00,000/- . Then difference amt. 1,95,000/- is applicable for taxation u/s 56(2)(vii) for AY- 2017-18?

[@TaxGyanbyOPYadav]

Dear Ashok, the provisions of section 56(2)(vii)(b)(ii) are applicable for AY 2017-18 , please refer. In case of any further clarification, please share your contact number on my email id [e-mail].

[@rabindey5180]

Do we need any certificate for claiming exemption

[@TaxGyanbyOPYadav]

Necessary evidence(including the Book of account, is required to be maintained under the provisions of the Income-tax Act) to establish that income is exempt in accordance with the provision are required to be maintained.

[@kadoobhutia749]

Sir, please share govt notification

[@TaxGyanbyOPYadav]

Dear Bhutia Ji, Please read the Finance Act-2023 or share your email id , I will forward the same.

[@mahadevkafle1069]

Sir Audit is mandatory or not for sikkmese?

[@TaxGyanbyOPYadav]

Section 44AA and 44AB are mandatory provisions and therefore, in my opinion need to be complied.

[@roshanlal1111]

Useful information Sir

[@TaxGyanbyOPYadav]

Thanks and welcome dear Roshan Lal Ji.