WBXPRESS › Forums › Tax › Non taxable Incomes in India
Do you know, how many incomes are not taxable in India?
Int. from PPF, GPF
Money back or maturity amt. from LIC
Gift (I think up to 20,000/-)
Leave salary (30/yr)
Scholarships for education
I also like to add the following:
Savings bank interest upto Rs. 10,000/-
Gift from anyone upto Rs. 50,000/- (@Torkona: it is not 20k )
Commutation of Pension
VRS upto Rs 5 lacs
Awards or Rewards by Govt. / Govt. Recognized body
It would be more helpful if it is possible to tag appropriate section of income tax rule for each area of exemption. thank you!
I support B Roy.