Income exempt

in which sanction it provides basic income tax exemption of 2.5 lac for info. and HUF.
Replies (2)
Quick Summary
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.

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.
Agree with Paras

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