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Some forms of income in India are tax-exempt, subject to the conditions specified in Indian law, as follows:
- A standard annual exemption of INR 150,000 on the income of an Indian resident. No tax returns have to be filed for income up to INR 150,000
- Income from a tax - exempt dividend held by the recipient but the company is liable for a dividend distribution tax.
- Compensation from an insurance company.
- Severance pay in accordance with the provisions of Indian law.
- A pension from work.
- A capital gain from transfer of a residential property that has been held for a long term when the proceeds are invested in the purchase of another residential property.
- Capital gain from the sale of listed shares held for a long term.
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