India

Individual - Other tax credits and incentives

Last reviewed - 03 October 2019

Tax incentives are eligible to be claimed from taxable income. The incentives can be based on income, investment, or expenditure. Some of them are detailed below:

  • Income-based incentives:
    • Tax holiday of profits of business engaged in infrastructure development or development of SEZ.
  • Investment-based incentives:
    • Investment in certain mutual funds, infrastructure bonds, life insurance, bank fixed deposits, investment in government securities, etc.
  • Expense or payment-based incentives:
    • Certain payments, like medical insurance premium, donations to approved trusts or organisations, etc., are eligible for tax incentives.