This Indian State's Residents Need Not Pay Income Tax; Here's Why

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Sikkim Income Tax News: Sikkim’s status as a tax-free state dates back to 1975 when it merged with India. The merger included special provisions to retain the state’s existing laws and status. Initially, the state operated under its own tax regulations established in the Sikkim Income Tax Manual of 1948. However, in 2008, these local tax laws were repealed by the Union budget, leading to the introduction of Section 10 (26AAA) of the Income Tax Act, which provided tax exemptions for Sikkimese residents. Under this section, residents of Sikkim are exempted from paying income tax on their earnings, regardless of the amount. This exemption extends to income earned from interest on securities, dividends, and other sources, highlighting Sikkim's unique tax status in India.

#incometax #sikkim #india
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You got Saved...Sikkimese brothers and sisters 🙏Yaahan to loot chal raha hai😢

aman
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The Sikkimese women marrying a non Sikkimese does not lose the tax exemption after the SC ruling in their favour

abhayarvind
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As a sikkimese ...we have a better carrier in stock market.😅😅🔥🔥🔥

NischalRai-bkff
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370 का तो हौवा बनाकर इवेंट मैनेजमेंट किया गया है, असली खेल तो सिक्किम में हो रहा है जहां आज भी कोई ज़मीन नहीं ख़रीद सकता है 😢 और बिन्स परमिट के सिक्किम में घुसना भी एलोवेड नहीं है 😮

vinaykaul
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My biggest expense for the whole fiscal were taxes(direct and indirect)

vivek-hpjq
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And Nagaland and Mizoram and Meghalaya and Arunachal Pradesh

RohanAbraham
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Shit!! I had plans to marry a women from sikkim and settle there

sreerags
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One nation one tax ! Where is desha drohi bjp ?

raajajagan
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Incomplete information people from who have a proof of being born and brought up in sikkim or came to sikkim for trade and investment during monarchy i.e before 1975 can only enjoy this tar heaven 😅

ankitagarwal