{"id":4784,"date":"2019-02-06T09:00:44","date_gmt":"2019-02-06T03:30:44","guid":{"rendered":"http:\/\/capitalante.com\/?p=4784"},"modified":"2020-01-24T09:29:40","modified_gmt":"2020-01-24T03:59:40","slug":"tax-free-income-sources-in-india","status":"publish","type":"post","link":"https:\/\/capitalante.com\/tax-free-income-sources-in-india\/","title":{"rendered":"Top 27 Tax free income sources in India"},"content":{"rendered":"<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">In India, every person who comes under taxable income keeps no stone unturned to save his\/her taxes. He or she tries to avail of various deductions as permitted under section 80C to 80U available under the income tax act 1961. Fortunately, now in India, there are various incomes and investments that are tax-free. In this column, we will discuss the 27 tax-free income sources in India that are exempted from tax under the income tax act, 1961.<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<h2><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Source #1. Agricultural income<\/strong><\/span><\/h2>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:heading --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">The Indian economy is basically an agricultural economy. Needless to say, the base or backbone of the Indian economy is agriculture. The government of India encourages agriculture, so govt. allows rebate in the income from agriculture. Income from any kind of farming is tax-free such as processing &amp; selling agricultural crops from agricultural land. The government does not impose any tax at any level on agricultural income. Agricultural income refers to \u2013<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<ul>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Production, processing &amp; sale of agricultural crops i.e. Wheat, Rice, pulses, vegetables, fruits, spices, etc.<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Rental income from agricultural land or building.<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Profits made from the sale or purchase of agricultural land.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:list --><\/span><\/p>\n<h2><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Source #2. <\/strong><\/span><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Various components of salary received from the employer<\/strong><\/span><\/h2>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:heading --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">If the sum of a person\u2019s salary in a whole year crosses the exemption limit of income tax, he is liable to pay income tax. But some components of income from salary are exempted from income tax and they are as follows<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<ul>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Medical reimbursement<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Transport allowance<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Meal coupons<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Mobile phone bills<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Internet bills<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Leave travel allowance<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Leave travel concession i.e. LTC<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Reimbursement of any kind of liveries bill.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:list --><\/span><\/p>\n<h2><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Source #3. <\/strong><\/span><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><span style=\"color: #0000ff;\"><strong>House rent allowance from the employer<\/strong><\/span><strong><\/strong><\/span><\/h2>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:heading --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">House rent allowance or any fund received for accommodation by an employee from his\/her employer is tax-free up to a certain limit. But this house rent allowance is taxable when the employee resides in his\/her house which is owned or co-owned by him\/her.<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<h3><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Condition 1<\/strong><\/span><\/h3>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:heading --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">If the employee resides in the accommodation of his\/her employer, the house rent is tax-free. Since the employer allots the accommodation and the employee pays rent to the employer for the accommodation, it is considered that the employee resides in rental accommodation.<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Suppose a person receives a net salary of Rs. 3,00,000\/- and gets Rs. 1,00,000\/- as house rent from his\/her employer. Then he\/she can get the deduction of the maximum amount of Rs. 90,000\/- on his\/her house rent allowance. The standard deduction is @30% of the salary received as per section 80GG.<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<h3><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Condition 2<\/strong><\/span><\/h3>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:heading --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Another condition is if the employee does not receive any house rent allowance from his\/her employer, he or she is liable to take a rebate of Rs. 5000\/- per month i.e. Rs.60,000\/- in a financial year.<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<h2><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Source #4. <\/strong><\/span><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Profit from partnership firm<\/strong><\/span><\/h2>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:heading --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">A partnership firm is a joint organization of two or more persons. Income tax is imposed on the income of the firm and then income tax is deducted from the income of the firm accordingly. After that, the partners receive their shares from that income. Now, a partner is exempted from income tax when he\/she receives the share.<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<h2><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Source #5. <\/strong><\/span><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Individual share from HUF<\/strong><\/span><\/h2>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:heading --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">The income of HUF is taxable. HUF itself is considered a taxable body. Income tax is paid on the income of HUF. Then the remaining income is distributed among its members. So, the members are not liable to pay income tax.<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<h2><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Source #6. <\/strong><\/span><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Benefits from retirement<\/strong><\/span><\/h2>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:heading --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">A person receives some benefits from its employer on his\/her retirement. These benefits are either wholly or partially exempted from tax depending if he\/she is a government or non-government employee and the amount received. They are as follows,<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<ol>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Provident fund<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Gratuity<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Leave encashment<\/span><\/li>\n<\/ol>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:list --><\/span><\/p>\n<h2><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Source #7. <\/strong><\/span><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Income from Provident funds<\/strong><\/span><\/h2>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:heading --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">In India, Provident funds are compulsory for every employee working in such companies that are registered under The Companies Act, 1956.<strong><\/strong><\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">With the increase in age, the savings increase proportionately. After retirement, an individual earns the respective Provident Fund (PF) money which is exempted from tax.<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">The Employee Provident Fund offers tax-free returns if it has received an active contribution for more than 5 years even if an individual has changed multiple employers in the said period.<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<h2><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Source #8. <\/strong><\/span><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Income from Gratuity<\/strong><\/span><\/h2>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:heading --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Gratuity is a fund an employer provides to its employees. It is one kind of gift that is paid as extra. The following conditions are applicable.<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<ul>\n<li class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Superannuation: It means when an employee attains the age of retirement i.e. the age of 60 years.<\/span><\/li>\n<li class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Resignation: For some reason, an employee may resign his\/her job.<\/span><\/li>\n<li class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">On sudden death or any physical loss or health hazard due to accident or disease of the employee.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<h3><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Calculation of amount<\/strong><\/span><\/h3>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:heading --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">An employee can get the rebate on the gratuity of maximum Rs. 30 lakhs. More than this is taxable. The least of the following are exempted from tax:<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<ul>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Last salary (basic + DA)* number of years of employment* 15\/26<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Rs. 30 lakhs<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Gratuity actually received.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:list --><\/span><\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter\"><a href=\"http:\/\/capitalante.com\/wp-content\/uploads\/2019\/04\/Tax-implications-on-Gratuity.png\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" src=\"http:\/\/capitalante.com\/wp-content\/uploads\/2019\/04\/Tax-implications-on-Gratuity.png\" alt=\"Tax implications on Gratuity\" width=\"800\" height=\"2000\" class=\"aligncenter wp-image-6087 size-full\" srcset=\"https:\/\/capitalante.com\/wp-content\/uploads\/2019\/04\/Tax-implications-on-Gratuity.png 800w, https:\/\/capitalante.com\/wp-content\/uploads\/2019\/04\/Tax-implications-on-Gratuity-120x300.png 120w, https:\/\/capitalante.com\/wp-content\/uploads\/2019\/04\/Tax-implications-on-Gratuity-768x1920.png 768w, https:\/\/capitalante.com\/wp-content\/uploads\/2019\/04\/Tax-implications-on-Gratuity-410x1024.png 410w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/a><\/figure>\n<\/div>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:image --><\/span><\/p>\n<ul>\n<li class=\"has-text-color has-accent-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Read also: <span style=\"color: #ff0000;\"><a rel=\"noreferrer noopener\" aria-label=\"Here are nine incomes you need not pay tax on (opens in a new tab)\" href=\"https:\/\/economictimes.indiatimes.com\/wealth\/tax\/here-are-nine-incomes-you-need-not-pay-tax-on\/articleshow\/47538791.cms\" target=\"_blank\" style=\"color: #ff0000;\">Here are nine incomes you need not pay tax on<\/a><\/span><\/span><\/li>\n<\/ul>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<h2><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Source #9. Leave Salary<\/strong><\/span><\/h2>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:heading --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">A central government or state government employee may encash his\/her leaves accumulated throughout the service period. At the time of retirement or superannuation or resignation, an employee may encash his\/her leave. The concerned person can encash a maximum of 10 months of leave. This encashment of leave salary is tax-free.<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">The calculation is different for private-sector employees. They can avail of the exemption of maximum Rs. 3,00,000\/-.<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<h2><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Source #10. <\/strong><\/span><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Tax-free pension<\/strong><\/span><\/h2>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:heading --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Pension received from some organizations like UNO is tax-free. Family pension received by the dependents of an employee is partially tax-free. It is one-third of pension or Rs. 15,000\/- whichever is less. Here are some pensions which are completely tax-free,<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<ul>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Pension and family pension of gallantry award winners.<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Family pension by self or family members of the armed forces personnel.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:list --><\/span><\/p>\n<h2><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Source #11. <\/strong><\/span><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Commutation of Pension<\/strong><\/span><\/h2>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:heading --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">On retirement central and state government employees, local authority, defense services, and PSU employees can encash a part of their pension in a lump sum. It is known as commutation of Pension. This encashment of pension is tax-free.<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<h2><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Source #12. <\/strong><\/span><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Income from a superannuation fund<\/strong><\/span><\/h2>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:heading --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Literally, superannuation means regular payment of money made into a fund by an employee towards a future pension. It means people pay\u00a0money while they are working so that they will receive payment when they stop working. Now amount from a superannuation fund to the employee or legal heirs of any employee is completely tax-free.<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<h2><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Source #13. <\/strong><\/span><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Voluntary retirement<\/strong><\/span><\/h2>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:heading --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Any employee can take voluntary retirement before his superannuation. In this case maximum Rs. 5 Lakh is tax-free. Any excess amount is taxable as applicable to that person.<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<h2><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Source #14. <\/strong><\/span><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Retrenchment<\/strong><\/span><\/h2>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:heading --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">If any organization or company provide any compensation to its employees due to the closure of the organization, this compensation is tax-free.<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<h2><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Source #15. <\/strong><\/span><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Scholarship<\/strong><\/span><\/h2>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:heading --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Various government institutions, private organizations provide a scholarship to students. In some cases, students are awarded by several institutions. These scholarships or awards are completely tax-free.<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<h2><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Source #16. <\/strong><\/span><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Awards or Rewards by Government<\/strong><\/span><\/h2>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:heading --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Any Rewards or awards given by central or state government or any government authority for literary, scientific or artistic work or for service for alleviating the distress of the poor, the weak and the ailing, for proficiency in sports and games, &amp; Gallantry awards are completely tax-free.<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<h2><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Source #17. <\/strong><\/span><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Government relief funds<\/strong><\/span><\/h2>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:heading --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Government sanctions fund for any kind of natural calamity, riot, or any disturbances like that. The money received by an individual from this kind of fund such as the Prime Minister\u2019s National Relief Fund is not taxable.<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<h2><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Source #18. <\/strong><\/span><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Gifts either in cash or in any kind<\/strong><\/span><\/h2>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:heading --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Any gift received from any relative is totally tax-free. The gift may be in the form of money, jewellery, property, vehicle or any means. But in the case of non-relatives maximum Rs. 50,000\/- as a gift can be received. More than this is taxable. Any gift received at the time of marriage from either relatives or nonrelatives is tax-free. Here are some exemptions in case of a person who receives Gifts (either in cash or in any kind) from any person under the provision of Section 56(ii) of the Income Tax Act.\u00a0 Below are some conditions applied to gift.<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<h3><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Gifts received from Relatives<\/strong><\/span><\/h3>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:heading --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Here are the details of relatives as defined by the Income Tax Department.<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<ul>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Husband or wife i.e. spouse of an individual<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Brother or Sister of an Individual<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Sister or Brother of the spouse of that respective individual<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Brother or Sister of either of the parents of the individual<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Any Linear ascendant or descendant of the individual<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Any Linear ascendant or descendant of the spouse of the individual<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Spouse of the person mentioned above<\/span><\/li>\n<\/ul>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:list --><\/span><\/p>\n<h3><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Gifts are\u00a0treated\u00a0as\u00a0tax-free\u00a0income\u00a0sources if the aggregate value of gifts received is less than Rs. 50,000<\/strong><\/span><\/h3>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:heading --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">As mentioned earlier Rs. 50,000\/- is the maximum limit of exemption when the gift is received by a non-relative. This value may be in cash or in any kind. If the value of the gift crosses the limit, the whole gift is treated as income from other sources of that receiver.<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<h3><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>On the occasion of Marriage of an Individual<\/strong><\/span><\/h3>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:heading --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">On the occasion of Marriage, an Individual can receive gifts of any valuation and the gifts may be in any form or kind. These gifts are fully exempted.<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<h3><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Gifts received from a will or through inheritance or in contemplation of death of the payer<\/strong><\/span><\/h3>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:heading --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Generally, people receive gifts or property or wealth from their ancestors. Anything received by any will or inheritance is not taxable. The best thing is that there is no upper limit for this kind of receiving. Any amount can be received.<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<h2><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Source #19. <\/strong><\/span><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Amount received from Government Schemes<\/strong><\/span><\/h2>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:heading --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">If an Indian citizen or a person of Indian origin irrespective of resident or non-resident has an income from the investment it is tax-free on the following conditions,<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<ul>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">If he has an income from notified Central Government Securities such as National savings certificate, issued before June 1, 2002, and subscribed in foreign currency such as Dollar, Pound, and Euro, etc.<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Public Provident Fund or Notified Provident Fund.<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Any payment from Sukanya Samriddhi Yojana.<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Partial withdrawal i.e. up to 25% of the contribution made by an employee from NPS.<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Any income earned as an interest received from Government securities, bonds, annuity certificates, savings certificates, etc.<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Gold Monetization Scheme.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:list --><\/span><\/p>\n<h2><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Source #20. <\/strong><\/span><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Allowances or compensation from the employer<\/strong><\/span><\/h2>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:heading --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">The following allowances are completely tax-free in the hands of any individual Indian,<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<ul>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Foreign allowance granted by the government of India to its employees\u2019 posted abroad.<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">The compensation received from PSU Company at the time of Voluntary retirement or superannuation.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:list --><\/span><\/p>\n<h2><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Source #21. <\/strong><\/span><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Capital Gains<\/strong><\/span><\/h2>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:heading --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">The following Capital Gains are completely tax-free in the hands of any individual Indian,<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<ul>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Capital gains on transfer of listed equity shares.<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">The compensation received on compulsory acquisition of urban agriculture land.<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Under Andhra Pradesh Capital City Land Pooling Scheme, 2015.<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Capital gains by selling mutual fund units or share or stock up to Rs. 1 Lakh.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:list --><\/span><\/p>\n<h2><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Source #22. <\/strong><\/span><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Income received from Foreign Government<\/strong><\/span><\/h2>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:heading --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Remuneration received from a foreign government by an individual who is an Indian resident citizen in connection with any sponsored cooperative technical assistance program with the foreign government is completely tax-free.<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<h2><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Source #23. <\/strong><\/span><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Maturity (or) claim from Insurance companies<\/strong><\/span><\/h2>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:heading --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Any sum received from the insurance companies including bonus [except Keyman Insurance policy]either the policyholder or the nominee of the policyholder is completely i.e. 100% non-taxable income sources on the following cases,<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<ul>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">The maturity money received by the policyholder from the life insurance companies on maturity, claims from money back endowment policy.<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">The nominee of the policyholder from the life insurance companies on the death of the policyholder.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:list --><\/span><\/p>\n<h2><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Source #24. <\/strong><\/span><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Dividend Income from Domestic Companies<\/strong><\/span><\/h2>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:heading --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Starting from Financial Year 2016-17, any dividend income an individual receives when the company announces dividends is completely tax-free in the hands of any retail investor in case the net value of the dividends in a financial year not exceeding Rs. 10 lakh.<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">The dividend a retail investor received should be a SEBI registered Indian Company. In that case, the respective company will pay the dividend distribution taxes in accordance with the dividend amount to the government before giving it to its shareholders.<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<h2><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Source #25. <\/strong><\/span><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Tax-free interest income from Bank, Post office<\/strong><\/span><\/h2>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:heading --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Maximum of Rs. 40,000\/- earned as interest from regular savings account from any scheduled Bank or registered financial institution is exempted from income tax for a financial year. Interest earned more than this is taxable. If anyone gets Rs. 50,000\/- as interest he is liable to pay tax on (Rs. 50,000-Rs. 40,000) = Rs. 10,000\/-.<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Senior citizens can avail of a tax-free income of Rs. 50,000\/- from fixed deposits or term deposits in banks or post offices if the person is a pension holder.<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<h2><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Source #26. <\/strong><\/span><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Interest income from NRE accounts<\/strong><\/span><\/h2>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:heading --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">NRIs have a benefit that they can invest in India in NRE (Non-Resident External account) accounts. These accounts are meant for them only. Any interest earned on NRE deposits is completely tax-free. The money from the NRE account can be taken back to the country where the person originally resides.<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<h2><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Source #27. <\/strong><\/span><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #0000ff;\"><strong>Benefit for the people of Sikkim<\/strong><\/span><\/h2>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:heading --><\/span><\/p>\n<p class=\"has-text-color has-black-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">People living permanently in the state of Sikkim do not have to pay tax for their income whatever the income is since Sikkim is income tax-free state in India. The income arising from any source and by any way is totally exempted. Interest or dividends from equities or shares are also tax-free.<\/span><\/p>\n<ul>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Read also:<span style=\"color: #ff0000;\"> <a href=\"http:\/\/capitalante.com\/income-tax-return\/\" style=\"color: #ff0000;\">How to File Income Tax Return in India<\/a><\/span><\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\">Read also:<span style=\"color: #ff0000;\"> <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"http:\/\/capitalante.com\/income-tax-deductions-in-india\/\" target=\"_blank\" style=\"color: #ff0000;\">Income Tax Deductions In India<\/a><\/span><\/span><\/li>\n<\/ul>\n<p><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><!-- \/wp:paragraph --><\/span><\/p>\n<p class=\"has-text-color has-accent-color\"><span style=\"font-family: georgia, palatino, serif; font-size: 14pt; color: #000000;\"><span style=\"color: #0000ff;\">If you have any questions regarding tax-free income sources in India feel free to comment so that we have a discussion. If you found this post helpful don\u2019t forget to share this post.<\/span><a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/www.facebook.com\/share.php?u=http%3A%2F%2Fwoocommerce-297872-1484600.cloudwaysapps.com%2Ffinancial-planning%2F\" style=\"color: #000000;\"> <\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In India, every person who comes under taxable income keeps no stone unturned to save his\/her taxes. He or she tries to avail of various deductions as permitted under section 80C to 80U available under the income tax act 1961. &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Top 27 Tax free income sources in India\" class=\"read-more button\" href=\"https:\/\/capitalante.com\/tax-free-income-sources-in-india\/#more-4784\">Continue Reading<span class=\"screen-reader-text\">Top 27 Tax free income sources in India<\/span><\/a><\/p>\n","protected":false},"author":6,"featured_media":4975,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[15],"tags":[],"_links":{"self":[{"href":"https:\/\/capitalante.com\/wp-json\/wp\/v2\/posts\/4784"}],"collection":[{"href":"https:\/\/capitalante.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/capitalante.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/capitalante.com\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/capitalante.com\/wp-json\/wp\/v2\/comments?post=4784"}],"version-history":[{"count":0,"href":"https:\/\/capitalante.com\/wp-json\/wp\/v2\/posts\/4784\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/capitalante.com\/wp-json\/wp\/v2\/media\/4975"}],"wp:attachment":[{"href":"https:\/\/capitalante.com\/wp-json\/wp\/v2\/media?parent=4784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/capitalante.com\/wp-json\/wp\/v2\/categories?post=4784"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/capitalante.com\/wp-json\/wp\/v2\/tags?post=4784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}