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Asked: 2021-05-23T11:24:11+05:30 In:

How much income is not taxable as per Income Tax Act?

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How much income is not taxable as per Income Tax Act?
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    1. Enlightened

      Income Tax exemption limit for the below three categories of the individual taxpayer for the Assessment Year 2021-22 is as follows: Taxpayer Income Exemption Limit in old regime  Indian Resident below 60 years of age, Huf and NRI  Up to Rs 2.5 Lakh  Indian Resident 60 years but less than 80 years  URead more

      Income Tax exemption limit for the below three categories of the individual taxpayer for the Assessment Year 2021-22 is as follows:

      Taxpayer Income Exemption Limit in old regime
       Indian Resident below 60 years of age, Huf and NRI  Up to Rs 2.5 Lakh
       Indian Resident 60 years but less than 80 years  Up to Rs 3 Lakh
       Individual 80 years and above  Up to Rs 5 Lakh

       

      Taxpayer Income Exemption Limit in New regime
       Indian Resident below 60 years of age, Huf and NRI  Up to Rs 2.5 Lakh
       Indian Resident 60 years but less than 80 years  Up to Rs 2.5 Lakh
       Individual 80 years and above  Up to Rs 2.5 Lakh

       

       

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