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Tax Free Income: Which Income Is Not Taxed? Know Complete Information!
Summary by tv9gujarati.com
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There is no tax on farming or agricultural income. Scholarships for education from the government or private institutions are tax-free. Gratuity up to ₹20 lakh is tax-free for government employees and private sector employees. Leave encashment after retirement for government employees is tax-free. While private employees get a discount of up to ₹25 lakh. The amount received after the maturity of LIC policy is generally not taxed but some conditi…
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