Section 10

Section 10(23BBE) of the Income Tax Act provides a complete tax exemption for the income of the Insurance Regulatory and Development Authority (IRDA). Key Highlights: Eligible Entity: IRDA, established under Section 3(1) of the Insurance Regulatory and Development Authority Act, 1999. Nature of Income: All income earned by IRDA is exempt—this includes fees, interest, grants, […]

Section 10(23BBF) of the Income Tax Act provides a phased tax exemption for the North-Eastern Development Finance Corporation Ltd. (NEDFi)—a company formed under the Companies Act, 1956, to promote economic development in the North-Eastern region of India. Exemption Timeline: The exemption was structured to gradually increase over five assessment years: 20% of income exempt for

Section 10(23BBG) of the Income Tax Act provides a full tax exemption for the income of the Central Electricity Regulatory Commission (CERC). Key Features: Eligible Entity: CERC, established under Section 76(1) of the Electricity Act, 2003. Nature of Income: All income—including fees, interest, grants, or other receipts—is exempt. Purpose: To support CERC’s role as a

Section 10(23BBH) of the Income Tax Act provides a complete tax exemption for the income of Prasar Bharati (Broadcasting Corporation of India). Key Features: Eligible Entity: Prasar Bharati, established under Section 3(1) of the Prasar Bharati (Broadcasting Corporation of India) Act, 1990. Nature of Income: All income—whether from grants, interest, licensing fees, or other sources—is

Section 10(23C) of the Income Tax Act provides tax exemption to certain funds, institutions, universities, and hospitals that are established for charitable or religious purposes. It’s one of the two main regimes (alongside Section 11) under which charitable entities can claim exemption from income tax. Who Can Claim Exemption: Entities like: Educational institutions (e.g., schools,

Section 10(23D) of the Income Tax Act provides a tax exemption for the income of certain mutual funds in India. This provision is designed to promote collective investment schemes and deepen the capital markets. Who Qualifies: The exemption applies to: Mutual Funds registered under the SEBI Act, 1992, or regulations made thereunder. Mutual Funds set

Section 10(23DA) of the Income Tax Act provides a tax exemption for income earned by a securitisation trust from the activity of securitisation. Key Features: Eligible Entity: A securitisation trust as defined under the Explanation to Section 115TC. Nature of Exemption: Any income arising from the activity of securitisation is fully exempt from income tax.

Section 10(23EA) of the Income Tax Act provides a tax exemption for income received by an Investor Protection Fund (IPF) set up by a recognized stock exchange in India. Key Features: Eligible Income: Contributions received from recognized stock exchanges and their members. Eligible Entity: The IPF must be set up by a recognized stock exchange,

Section 10(23EC) of the Income Tax Act provides a tax exemption for income received by an Investor Protection Fund (IPF) set up by a commodity exchange in India, either jointly or separately. Key Features: Eligible Income: Contributions received from the commodity exchange and its members. Eligible Entity: The IPF must be notified by the Central

Section 10(23ED) of the Income Tax Act provides a tax exemption for income received by an Investor Protection Fund (IPF) that is: Set up by a depository, and Notified by the Central Government in the Official Gazette, In accordance with regulations made under the SEBI Act, 1992 and the Depositories Act, 19962. Nature of Exemption: