Some forms of income in India are tax-exempt, subject to the conditions specified in Indian law, as follows:

• A standard annual exemption of INR 250,000 on the income of an Indian resident.
  Higher exemption of INR 300,000 is granted to seniors aged 60 to 80 years, INR 500,000 to seniors aged 80 years or more.
• Income from a tax - exempt dividend held by the recipient but the company is liable for a dividend distribution tax.
• Compensation from an insurance company.
• Severance pay in accordance with the provisions of Indian law.
• A pension from work.
• A capital gain from transfer of a residential property that has been held for a long term when the proceeds are invested in the purchase of another residential property.
• Capital gain from the sale of listed shares held for a long term.