New Delhi, June 14 -- Not all income earned by an individual is taxable under Indian tax laws. While salary, business income and most investment gains are subject to taxation, the Income Tax Act provides exemptions for certain types of income, helping taxpayers legally reduce their tax burden.

Many taxpayers focus on deductions and exemptions while filing their income tax return (ITR) but often overlook income sources that are entirely tax-free. Here are five such income sources that every taxpayer should know about.

Gifts received of any value from relatives (such as spouse, parents or in-laws) specified in the law is completely exempt from taxation. The same rule applies to gifts or cash received from non-relatives (except employer) o...