No Income Tax on Amount received under Agnipath Scheme, 2022: Union Budget 2023 [Read Finance Bill]

Income Tax - Amount received - Agnipath Scheme 2022 - Union Budget 2023 - taxscan - budget 2023 - budget 2023 live - union budget 2023 - nirmala sitharaman budget - taxscan

The 2023 union budget Presented by the finance minister Nirmala Sitharaman introduced so many tax reliefs to the taxpayers of India. One of the major among was related to the Agni path scheme.

Under the scheme the payment received from the agniveer corpus fund by the agniveers is proposed to be exempt from taxes.

Deduction in the computation of total income is proposed to be allowed to the agniveer on the contribution made by him or the Central Government to his Seva Nidhi account.

Agni path Scheme has been launched by the central government to recruit young candidates in Indian Armed Forces .Under the Scheme the younger candidates are allowed to serve in Indian armed forces for four years.

Agni path scheme deals under the head of Ministry of Defence which introduced the government on 14 June 2022.

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