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Incomes exempt from tax. Incomes exempt under section 10. Agriculture income [sec 10.1] Receipts by a member from a HUF [Sec10.2]..example Share of profit from a partnership firm [sec 10.2a] Casual (5000) and non recurring receipts [sec 10.3] Interest to non-residents [sec 10 4, 4b] - PowerPoint PPT Presentation
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Incomes exempt from tax
Incomes exempt under section 10
1. Agriculture income [sec 10.1]
2. Receipts by a member from a HUF [Sec10.2]..example
3. Share of profit from a partnership firm [sec 10.2a]
4. Casual (5000) and non recurring receipts [sec 10.3]
5. Interest to non-residents [sec 10 4, 4b]
6. Leave travel concession to an Indian citizen[sec 10.5]
7. Value of concessional passage to foreign national employee
8. Remuneration received by a foreign diplomat and other foreign nationals
9. Remuneration of a technician in India
10. Salary received by a ship’s crew
11. Remuneration of a foreign trainee
12. Exemption from tax paid on behalf foreign companies in respect of certain income
13. Tax paid on behalf of non residents/foreign companies in respect of other income
14. Technical fees received by a notified company
15. Foreign allowance
16. Income of a foreign govt. employee under cooperative technical assistance programmes
17. Remuneration or fees received by non resident consultants and their foreign employees
18. Income of a family members of an employee serving under a cooperative technical assistance programme
19. Gratuity
20. Pension and leave salary
21. Retrenchment compensation
22. Compensation received by victims Bhopal gas leak disaster
23. Compensation on account of any disaster
24. Payment from an approved public sector company and other entities at the same time of voluntary retirement
25. Tax on perquisite paid by employer
26. Amount paid on life insurance policies
27. Payment from provident funds
28. House rent allowance
29. Payment from an approved superannuation fund
30. Special allowances
31. Income received as exchange risk premium
32. Interest on securities
33. Lease rent of aircraft
34. Educational scholarship
35. Daily allowance of Members of parliament
36. Awards
37. Pension to gallantry award winners
38. Exemption of family pension received by the family members of armed forces
39. Former rulers of Indian States
40. Income of local authority
41. Income of housing authority
42. Income of Scientific research association
43. Income of educational institutions
44. Income of hospitals
45. Income of specifies news agencies
46. Income of games associations
47. Income of professional institution
48. Income received on behalf of Regimental Fun
49. Income of fund established for welfare of employees
50. Income of pension fund
51. Income from khadi or village industries
52. Income from khadi or village industries Boards
53. Income of statutory bodies for the administration of public charitable trust
54. Income of European Economic Community
55. Income of SAARC
56. Income of Insurance Regulatory Authority
57. Income of certain National funds, educational institutions and hospitals
58. Income of a mutual fund
59. Income of investor protector fund
60. Income of Venture Capital fund or venture capital company
61. Income of an infrastructure capital fund
62. Income of trade union
63. Income of provident funds
64. Income of Employees State Insurance fund
65. Income of a member schedule Tribe
66. Income of resident of Ladakh
67. Income of a “sikkimese” individual
68. Income of an agricultural produce marketing company
69. Income of National Minorities Development and Finance Corporation
70. Income of Ex-servicemen
71. Income of Minor
72. Subsidy received by planters
73. Capital gain on transfer of US 64
74. Long term capital on transfer of listed equity shares
75. Income of notified non profit body
Special provisions in respect of newly established undertakings in free trade zone
Special provisions in respect of newly established undertakings in Special Economic Zone
Special provisions in respect of newly established hundred per cent export oriented undertakings
Special provisions in respect of artistic hand made wooden articles