Vote Up 0 Vote Down

​What is exempt income and taxable income?

​What is exempt income and taxable income in India?
flag

Answers


Vote Up 0 Vote Down
An exempt income is not charged to tax, i.e., Income-tax Law specifically grants exemption from tax to such income. Incomes which are chargeable to tax are called as taxable incomes.

E.g., Dividend income from an Indian company is granted specific exemption and, hence, the same is not liable to tax in the hands of the shareholders. However, dividend from a foreign company is taxable.​
flag | link |

Your Answer

Login before answering

Login with facebook