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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.
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