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of <h1>Gallantry Awards Under Income-tax Act: Tax Exemptions for Ashok Chakra, Kirti Chakra, Shaurya Chakra, and More Specified.</h1> The Central Government, through the Ministry of Finance's Department of Revenue, issued a notification specifying gallantry awards under the Income-tax Act, 1961. These awards, eligible for tax exemptions under Section 10(18), include the Ashok Chakra, Kirti Chakra, Shaurya Chakra, and others. The notification outlines the circumstances under which these awards are granted, such as acts of bravery or gallantry by civilians and members of police, security, and fire services. The awards are recognized when supported by appropriate certification from relevant authorities.
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