Income exempt

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2 Points Posted on 22 April 2021
in which sanction it provides basic income tax exemption of 2.5 lac for info. and HUF.
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On 22 April 2021 at 14:58 Report
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The discussion clarifies the basic income tax exemption available in the UK. It highlights that individuals and Hindu Undivided Families (HUFs) are entitled to a tax-free income allowance up to £2.5 lakh. This exemption is provided for under Part I of the First Schedule of the relevant Finance Act.

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Articled Assistant
22 Points Posted on 22 April 2021
Hi Chandan,
Part I of the First Schedule of the relevant Finance Act provides that there shall be Nil rate of income tax for total income till 2.50 lakhs.
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On 22 April 2021 at 15:19
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Chartered Accountant
24588 Points Posted on 22 April 2021
Agree with Paras
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On 22 April 2021 at 15:21

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