Exempted incomes

A Notified Institution refers to any entity or body corporate established by the Central Government or State Government for the purpose of financing infrastructure and development. These institutions play a crucial role in mobilizing funds for infrastructure projects such as roads, railways, airports, power plants, and other essential facilities. The Central Government may notify an […]

Developmental financing institutions play a crucial role in promoting economic growth and development in a country. These institutions provide long-term funding for various developmental projects and sectors such as infrastructure, agriculture, and small and medium enterprises. To encourage the growth of these institutions, the Income Tax Act of India provides certain exemptions and benefits. One

Section 10(50) of the Income Tax Act, 1961 provides for exemption from income tax in the hands of a non-resident person in respect of any income which is chargeable to equalization levy. This exemption is intended to avoid double taxation. Equalization levy is a tax that is charged on certain online transactions, such as online

Special Economic Zones (SEZs) have emerged as key drivers of economic growth and development in many countries. In India, SEZs have played a significant role in attracting investment, promoting exports, and creating employment opportunities. To provide further impetus to SEZs, the Indian government has introduced various special provisions, including Section-10AA of the Income Tax Act.

Political parties play a crucial role in any democratic society. They serve as the voice of the people, representing their interests and advocating for their rights. However, like any other organization, political parties require funds to function effectively and carry out their activities. In India, the regulation of political party funding is governed by Section

An Electoral Trust is a unique entity that plays a crucial role in the political funding of political parties in India. It is a non-profit organization that collects funds from individuals, corporates, and other entities and then distributes them to various political parties. The main objective of an Electoral Trust is to bring transparency and

Interest incomes which are exempt under section 10(15) could be explained with the help of the following table- Section Income Exemption to 10(15)(i) Interest, premium on redemption, or other payment on notified securities, bonds, certificates, and deposits, etc. (subject to notified conditions and limits) All assesses 10(15)(iib) Interest on notified Capital Investment Bonds notified prior