{"id":7830,"date":"2022-03-16T15:47:41","date_gmt":"2022-03-16T10:17:41","guid":{"rendered":"https:\/\/www.tickertape.in\/blog\/?p=7830"},"modified":"2022-04-25T17:31:09","modified_gmt":"2022-04-25T12:01:09","slug":"exemptions-under-income-tax-act","status":"publish","type":"post","link":"https:\/\/www.tickertape.in\/blog\/exemptions-under-income-tax-act\/","title":{"rendered":"Income Exempted From Tax: Income Tax Exemptions and Deductions in India"},"content":{"rendered":"\n

The income tax<\/a> allows you to claim exemption on various incomes. Such non-taxable incomes are known as income exempt from tax. These are not added to the total gross income while calculating your tax liability. <\/p>\n\n\n\n

The subsections of Section 10 of the Act list the incomes exempt from tax<\/a>. Individuals, HUFs, associations, bodies of individuals, companies, and other assessees can claim such exemptions. Moreover, if the total exemption amount is more than Rs 5,000, you must file ITR-2 instead of ITR-1.<\/p>\n\n\n\n

Let us have a look at the provisions.<\/p>\n\n\n\n

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Table of Contents<\/p>\n<\/span><\/div>\n