Direct & Indirect Taxes, Tax Ready Reckoner, Tax Management, Tax Act. & Rules, Tax Planning & Tax Savings.

Direct & Indirect Taxes, Tax Ready Reckoner, Tax Management, Tax Act. & Rules, Tax Planning & Tax Savings.

Exempted Incomes or Incomes which do not form part of Total Income [Section 10, 10AA, and 11 to 13A]

   
10(1) Agricultural income
10(2) Sum received by a member from HUF
10(2A) Share of profit of a partner from a firm
10(4) Interest on securities or bonds held by a non-resident/interest on Non-resident  (External) Account
10(5) Travel concession or assistance received by an individual from his employer
10(6) Remuneration to certain persons who are not citizens of India
10(7) Allowances or perquisites outside India
10(10) Death-cum-retirement gratuity received by an employee
10(10A) Payment in commutation of pension received by the employees
10(10AA) Leave encashment
10(10B) Compensation on retrenchment
10(10BB) Payments under Bhopal Gas Leak Disaster (Processing of Claims) Act, 1985
10(10BC) Compensation received or receivable on account of any disaster
10(10C) Amount received on voluntary retirement
10(10CC) Tax on non-monetary perquisites paid by employer
10(10D) Amount received under a Life Insurance Policy
10(11) Provident Fund
10(11A) Interest and withdrawals from Sukanya Samriddhi Account
10(12) Payments from Recognised Provident Fund
10(12A) Amount payable at the time of closure or opting out of National Pension Scheme to  be exempt to the extent of 40% of the total amount payable
10(13) Any payment from an approved Superannuation Fund
10(13A) House Rent Allowance
10(14) Notified Special Allowance
10(15) Interest, premium or bonus on specified investments
10(16) Scholarships granted to meet the cost of education
10(17) Daily and constituency allowance, etc. received by MPs and MLAs
10(17A) Award or Reward
10(18) Pension received by certain awardees/any member of their families
10(19) Family pension received by the family members of armed forces personnel killed in  action
10(19A) Annual value of one palace of the ex-ruler
10(20) Income of a local authority
10(21) Income of an approved scientific research association
10(22B) Income of specified news agency
10(23C) Income of certain funds of national importance
10(23D) Income of notified mutual funds
10(23FD) Distributed income received by a unit holder from the business trust
10(24) Income of Trade Union
10(26) Income of a member of Scheduled Tribe residing in certain specified areas
10(26AAA) Income of a Sikkimese
10(32) Income of minor clubbed in the hands of a parent
10(34) Dividend to be exempt in the hands of the shareholders
10(34A) Income arising to a shareholder on account of buy back of shares
10(35A) Income received from securitisation trust
10(37) Capital gains on compensation received on compulsory acquisition of agricultural  land situated within specified urban limits
10(38) Capital gain arising from sale of shares and units
10(39) Exemption of specified income from international sporting event held in India
10(43) Amount received by an individual as loan under reverse mortgage
10(44) Income received by any person or on behalf of New Pension System Trust
10(45) Notified allowance or perquisite paid to Chairman/member or retired Chairman/  member of U.P.S.C.
10(46) Specified income arising to a notified body/authority/board/trust/commission
10(48) Exemption in respect of income received by certain foreign companies
10(48A) Exemption in respect of income a foreign company on account of storage of crude oil  in a facility in India and sale of crude oil therefrom
10(50) Exemption in respect of income chargeable to equalization levy
10AA Special provisions in respect of newly established Units in Special Economic Zones
11 Income from property held for charitable or religious purposes
12A Registration of trust
12AA Procedure for registration
13 Sections 11 and 12 not to apply in certain cases
13A Income of political parties
13B Income of Electoral Trust
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