Exempt from filing ITR Website link Exempt from filing ITR: As of September 2021, certain individuals are exempt from filing Income Tax Return (ITR) in India if they meet certain criteria. The exemption from filing ITR is available to individuals who satisfy the following conditions: Individuals below the age of 60 years: Total income does… Read More »
Need to File ITR Who no Need to file ITR in India, certain individuals may not need to file an income tax return (ITR) if they meet specific conditions. Here are some categories of individuals who generally do not need to file an Income Tax Return: 1. Individuals below the Exemption Limit: If your… Read More »
Tax exempt Tax exempt: In India, a tax-exempt organization is refer to as a “charitable organization” or “charitable trust” and is exempt from paying income taxation under Section 11 of the Income Tax Act, 1961. This exemption applies to organizations that are establish for charitable, religious, or educational purposes, as well as those established for… Read More »
Income tax relief under 80GG Income Tax relief under 80GG, It’s individuals who do not receive House Rent Allowance (HRA) from their employer but still pay rent for their accommodation. This provision applies to self-employed individuals, salaried employees, and professionals. To qualify for the Income tax exemption under Section 80GG, the following criteria… Read More »
Which professions are exempt from income tax In India, no professions is completely exempt from income tax. However, certain professions or categories of taxpayers may be eligible for certain tax deductions or exemptions based on the provisions of the Income Tax Act. To visit- https://www.incometax.gov.in As an illustration, specific types of income such as agricultural… Read More »
Conveyance allowance tax limit Conveyance allowance tax limit, As of the current knowledge cutoff date of September 2021, it is worth noting that conveyance allowance up to a maximum of Rs. 1,600 per month is exempt from tax in India. This means that employees can receive a conveyance allowance of up to Rs. 1,600 per month… Read More »