Types of Exempt Income:
Agriculture Income: Profits from agricultural activities are tax-exempt but impact total income calculation.
Gifts from Relatives: Monetary gifts from relatives and non-relatives up to INR 50,000 are exempt.
Long Term Capital Gains: LTCG up to INR 1,00,000 are tax-free.
Interest on Securities: Interest and premium from government bonds and deposits are exempt.
Provident Fund: Payments from Provident Fund are tax-exempt under Section 10.
Gratuity: Gratuity for government employees is tax-free, subject to specific conditions.