ITR Filing: The season of ITR i.e. income tax filing is going on. In such a situation, many of you must be thinking of filling your ITR. But before filing ITR, it is important for you to know which of your incomes are not taxed.

Today we are going to tell you about some such incomes, on which income tax does not have to be paid.

Agriculture

If you earn a lot or less from farming, whatever your income is, tax will not be levied on it. Because in India, no income tax has to be paid on the income from farming. Let us tell you that in the Income Tax Act 1961, income from farming is kept out of the scope of income tax.

Savings Account

In savings account, income is earned through interest. If you are earning less than Rs 10,000 from interest in your savings account, then you will not have to pay any tax. But if you have two accounts and you are earning Rs 10,000 from one and Rs 5000 from the other, then your income of Rs 5000 will be taxable.

Senior Citizen Saving Scheme

There is no tax on the principal amount invested through Senior Citizen Saving Scheme and tax has to be paid on the interest earned.

PF Account

The amount deposited in the PF account is exempted under Section 80C of the Income Tax Act, but only if the amount should not exceed 12% of the basic salary.

Gratuity

Government employees do not have to pay any kind of income tax on gratuity. Although, there is no tax on gratuity amount up to Rs 20 lakh and for private employees this limit is Rs 10 lakh.

Scholarship, Award

When any student gets a scholarship or any award, there is no income tax on it.

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