Income Exempted from Tax in India

by Vikram | 18 December 2013
In India, certain types of income do not attract taxes. In tax calculations, these types of income are not deducted but rather NOT added or included in the first place, to the gross total income. Mainly the Section 10 provides guidelines for exempt income. Primarily, the following kinds of income are exempted from taxation usually to the entire extent – Sr. No. Type of Income Under Section (u/s) 1. Agricultural Income 10 (1) 2. Income to a Member from Hindu Undivided Family (HUF) 10 (2) 3. Share of Profit from a Partnership Firm 10 (2A) 4. Leav... [More]

Everything Income Tax