following are the types of income which are exempt from income tax:
1. agricultural income
2. share income of hindu undivided family(HUF)
3. share of profit in partnership firm
4. gratuity
5. pension and leave salary
6. leave encashment
7. house and rent allowances
8. commuted pension
9. dividend income from domestic company
10. income from mutual funds
11. income from religious institutions.
the above stated points are such kinds of income which are exempt from income tax according to income tax Act, 1961.
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