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Home FINANCE 10 Types Of Income Which Are Tax Free – Key Details inside

10 Types Of Income Which Are Tax Free – Key Details inside

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10 Types Of Income Which Are Tax Free – Key Details inside
10 Types Of Income Which Are Tax Free – Key Details inside

ITR Filing 2025: There are many types of income in India on which income tax is not levied. No tax has to be paid on such income. The government has kept these incomes in the tax free category. Know here what are these 10 incomes.

There are many types of income in India on which income tax is not levied. No tax has to be paid on such income. The government has kept these incomes in the tax free category. Know here what are these 10 incomes.

Agricultural Income – Income from agriculture is completely tax free under Section 10(1) of the Income Tax Act.

Money received from insurance policy – ​​The maturity or bonus amount of a life insurance policy is tax free subject to certain conditions.

Interest and total amount received from Public Provident Fund (PPF): The interest received on the amount deposited in the PPF account and the amount received on maturity are completely tax free.

Scholarships and Government Awards – The amount of scholarships received from the government or recognized institutions and state or national awards like Bharat Ratna, Arjuna Award etc. are tax free.

Gifts received from relatives: Gifts received from close relatives are tax-free under certain conditions. Gifts received at the time of marriage are also tax-free.

Receipt received from HUF – The amount received by the member from HUF is tax free.

Retirement benefits: Gratuity up to certain limits, holiday cash (for government employees) and certain categories of pension are tax free.

Medical insurance, certain allowances received from office – such as medical insurance premium, meal coupons, office telephone, internet bills etc. are tax free up to certain limits.

PF, NPS, Senior Citizen Savings Scheme – The interest or maturity amount received from these investments is tax free subject to certain conditions.

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