Exempt Incomes

Exempt Incomes are the incomes that are not chargeable to tax as per Income Tax law i.e. they are not included in the total income for the purpose of tax calculation while taxable Incomes are chargeable to tax under the Income Tax law.

Exempt income are those on which tax is not likely to be paid.Some examples are - dividend income, agricultural income etc.

Read More Complete lists of Tax Exempt Incomes.