TAX FREE INCOME
Agriculture revenue is not subject to taxation in India, as is widely recognized. Property taxes are familiar to anyone who owns a home. We might have heard tax exemptions are available for seniors, individuals with disabilities, and other people under subsistence level, but did you know that agricultural tax exemptions are also available? If you can classify portion of your land as farming, you might save a lot of money on taxes. Selling or using agricultural products cultivated on your property, such as honey, vegetables, fruits, timber and poultry, is tax-free.
Do not save what is left after spending. Spend what is left after saving.