Monday, 6 July 2015

Here are nine incomes you need not pay tax on

It is generally believed that one can't have the best of both the worlds, especially when it comes to income and taxation. The more one earns, the more would be the tax liability. But, not many people are aware that this is not completely true and there exist certain types of income for which your income tax liability is zero.

"Such incomes are not added to your total taxable income for that assessment year and thereby remain tax-free. Section 10 of the Indian Income Tax Act of 1961 lists the various incomes that come under this category," says Adhil Shetty, founder & CEO of

We give you nine such types of incomes that don't attract any income tax:

Read the full story from ET dt. 4th Jun 2015