Tag Archives: #TaxReliefPrograms

Q15.6 Who is exempt from filing ITR ?

Exempt from filing ITR

Exempt from filing ITR 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 not exceed… Read More »

What is the meaning of “standard deduction” in income tax rules?

Tax benefits

Standard Deduction in income tax The meaning of “standard deduction” in the context of income tax rules, refers to a fixed amount of deduction that is applicable to the gross income of salaried individuals, regardless of the actual expenses incurred. The purpose of the standard deduction is to reduce the tax liability and provide relief… Read More »