Sl.
No. |
Nature
of Exempted Income |
Section
& Sub-sec. |
1
|
Agricultural Income
|
10(1) |
2
|
Receipts from a Hindu Undivided Family being paid
out of family's income or in the case of an impartible estate
belonging to family being paid out of such estate's income
|
10(2) |
3
|
Share of partner in total income of a firm which
is assessed separately as such.
|
10(2A) |
4
|
Receipts being in the nature of casual and non-recurring
nature not exceeding Rs. 5,000/- (Rs. 2500/- in the case of
winnings from horse races, etc).
|
10(3) |
5
|
Interest on securities and bonds including premium
on redemption of bonds by Non Resident as notified by Central
Government.
|
10(4)(i) |
6
|
Interests on amounts in Non-resident (External)
Account in any bank in India being maintained as per FERA,
1973 and rules thereunder by an individual..
|
10(4)(ii) |
7
|
Interest on specified Central Government's Savings
Certificates which were subscribed to in convertible foreign
exchange remitted from a country outside India as per FERA
and rules thereunder by an individual citizen or a person
of Indian Origin..
|
10(4B) |
8
|
Value of Leave Travel Concession or assistance
not exceeding the amount actually spent.
|
10(5) |
9
|
Specified remuneration to a foreigner and non-resident
individual for shooting of film in India who comes solely
for such purpose.
|
10(5A) |
10
|
Income-tax paid by the employer carrying on scientific
research in respect of the salary income of certain technicians
from abroad commencing from 1.4.93 subject to conditions stated
therin.
|
10(5B) |
11
|
Incomes of foreigners in respect of :- |
(a) Passage Money. |
10(6)(i) |
(b) Remuneration received by an ambassador, diplomats, etc.
as specified. |
10(6)(ii) |
(c) Remuneration received by employees of foreign companies
in respect of services rendered during stay in India subject
to conditions as specified. |
10(6)(vi) |
(d) Remuneration received from foreign philanthropic institutions
etc. in respect of services rendered in India subject to both
the institutions and the purposes thereof being approved by
the Central Govt. |
10(6)(via)
|
(e) income-tax paid by the employer carrying on scientific
research in respect of the salary income of certain technicians
from abroad commencing from 1.4.88 till 31.3.93 subject to conditions
stated therein. |
10(6)(viia)
|
(f) Salaries to non-resident employed on a foreign
ship subject to aggregate stay of not more than 90 days in
the previous year.
|
10(6)(viii) |
(g) Salaries to non-residents professors or teachers. |
10(6)(ix) |
(h) Income of individuals engaged in research work in India
under duly approved research schemes. |
10(6)(x) |
(i) Remuneration received from foreign government
for training in a government office or undertaking as employee.
|
10(6)(xi)
|
12
|
Amount of tax paid by the Government or an Indian
concern on behalf of a non-resident or specified foreign company
in respect of royalty or fees for technical services from
the Government or such Indian concern.
|
10(6A) |
13
|
Amount of tax paid by the Government or an Indian
concern on behalf of a foreign State etc. on income derived
from Government or such Indian concern excluding salary, royalty
or fees for technical services.
|
10(6B) |
14
|
Amount of tax paid by an Indian Company on the
income of a foreign enterprise or State which has leased an
aircraft or its engine to an Indian Company involved in operating
aircraft, the agreement being entered into after 31-3-1997
and approved by Central Govt.
|
10(6BB) |
15
|
Any notified income arising for technical services
rendered in or outside India in respect of projects connected
with the security of India.
|
10(6C) |
16
|
Allowances or perquisites paid by the Government
to Indian employees who are posted outside India.
|
10(7) |
17
|
Income from foreign Govt. in connection with any
co-operative technical assistance programmes as per agreement
by the Indian Govt. with the foreign Govt.
|
10(8) |
18
|
Any remuneration or fee received by approved consultant
out of funds made available to an international organisation
under a technical assistance grant agreement.
|
10(8A) |
19
|
Any remuneration or fee received by an employee
of the consultant as mentioned in s. 10()8A) above.
|
10(8B) |
20
|
Income accruing or arising outside India to a
member of the family of individual specified in ss. 10(8)/(8A)/(8B)
and is liable to tax there, provided the same is not deemed
to accrue or arise in India.
|
10(9) |
21
|
Death-cum-retirement gratuity payable to specified
members of civil or defence services.
|
10(10)(i) |
22
|
Gratuity not exceeding Rs.3 ½ Lakhs payable
under the Payment of Gratuity Act, 1972
|
10(10)(ii) |
23
|
Any other gratuity not exceeding Rs. 2 ½
Lakhs received by employee on retirement or termination of
his services or by legal heirs on death of employee limited
to 15 days salary for each completed year of service.
|
10(10)(iii)
|
24
|
Receipt in respect of commutation of pension as
per specified limits.
|
10(10A) |
25
|
Leave encashment not exceeding 8 months salary
and subject to specified conditions & limits.
|
10(10AA) |
26
|
Compensation paid to employees on account of retrenchment
under Industrial Disputes Act, 1947: Ascertainment of amount
to be either minimum Rs. 50,000 or as per the said Act whichever
is less.
|
10(10B) |
27
|
Payments made under Bhopal Gas Leak Disaster Act,
1985.
|
10(10BB) |
28
|
Receipt of amount on voluntary retirement upto
Rs. 5,00,000 subject to specified scheme and guidelines and
necessary approval.
|
10(10c) |
29
|
Payment on a Life Insurance Policy, including
bonus thereon but excluding therefrom amounts received u/s
80DDA(3).
|
10(10D) |
30
|
Receipt of Payment from Public Provident Fund
or Statutory Provident Fund.
|
10(11) |
31
|
Payment to employee from recognised provident
fund in respect of accumulated balance standing to the credit
thereof.
|
10(12) |
32
|
Receipt of Payment from Superannuation Fund subject
to specified conditions and limits.
|
10(13) |
33
|
Special allowance to employee viz., house rent
allowance.
|
10(13A) |
34
|
Special benefit to employees within meaning of
s.17(2) subject to conditions stated therein.
|
10(14) |
35
|
Receipt of premium on account of Exchange risk
from borrower of foreign currency.
|
10(14A) |
36
|
Receipt of interest or premium on redemption etc.
on notified securities, bonds etc. such as monthly payment
on 15-year Annuity Certificates subject to specified condition
and limits.
|
10(15)(i) |
37
|
Interest on the new Capital Investment Bonds.
|
10
(15)(iib)
|
38
|
Interest income from notified Relief Bonds w.e.f.,
assessment year 1989-90.
|
10
(15)(iic)
|
39
|
Interest on notified bonds owned by a non-resident
etc. and bought in foreign exchange subject to certain conditions.
|
10
(15)(iid)
|
40
|
Interest on securities under the Ceylon Monetary
Law Act, 1949
|
10 (15)(iii) |
41
|
Interest payable to any bank incorporated outside
India and approved by RBI.
|
10
(15)(iiia)
|
42
|
Receipt of interest from Govt. etc. on moneys
lent to them from sources outside India.
|
10
(15)(iv)(a)
|
43
|
Receipt of interest from industrial undertaking
in India being approved foreign financial institutions in
respect of moneys lent to it.
|
10
(15)(iv)(b)
|
44
|
Receipt of interest from industrial undertaking
in India in respect of moneys lent to it outside India for
purchases of raw materials, plant & machinery, etc. from
abroad.
|
10
(15)(iv)(c)
|
45
|
Receipt of interest from specified financial institution
in India in respect of moneys lent to it from sources outside
India.
|
10
(15)(uv)(d)
|
46
|
Receipt of interest from financial institution
other than those covered by 15(iv)(d) above in respect of
moneys lent to it from sources outside India for the purposes
as specified.
|
10
(15)(iv)(e)
|
47
|
Receipt of interest from industrial undertaking
in India in respect of moneys lent to it in foreign currency
from sources outside India.
|
10
(15)(iv)(f)
|
48
|
Receipt of interest from scheduled bank in respect
of deposits made in foreign currency subject to same being
duly approved by the RBI.
|
10(15)
(iv)(fa)
|
49
|
Receipt of interest from public company having
been formed and registered in India to provide long-term finances
for construction/purchase of houses in respect of moneys lent
to it in foreign currency from sources outside India.
|
10
(15)(iv)(g)
|
50
|
Receipt of interest from public sector company
in respect of bonds and debentures as notified.
|
10
(15)(iv)(h)
|
51
|
Receipt of interest from Government in respect
of deposits made in its specified schemes from funds due on
retirement.
|
10
(15)(iv)(i)
|
52
|
Receipt of interest on securities held by Welfare
Commissioner, Bhopal Gas Victims as also on deposits made
with RBI or Public Bank from 1-4-1994
for the benefit of such victims.
|
10
(15)(v)
|
53
|
Receipt of payment from an Indian company carrying
on business of operation of aircraft, to acquire an aircraft
or aircraft engine excluding spares etc., on lease from foreign
Govt. or enterprise under an agreement entered into before
1-4-1997 and being duly approved.
|
10(15A) |
54
|
Scholarships granted to meet the cost of education
|
10(16) |
55
|
Daily allowances received by MPs, MLAs AND
MLCs.
|
10(17)(ii) |
56
|
Receipt of allowances by MPs under the Member
of Parliament [Constituency Allowance] Rules, 1986.
|
10(17)(ii) |
57
|
Receipt of allowances by MLAs under the limit
of Rs. 2,000/- per month
|
10(17)(iii) |
58
|
Receipt of any amount in connection with an award,
including award in kind, for literary, scientific or artistic
work etc. instituted by Government etc.
|
10(17A)(i) |
59
|
Receipt of amount in connection with a reward
including award in kind from Government in respect of public
interest purposes.
|
10
(17A)(ii)
|
60
|
Receipt of ex-gratia payments from Government
to ex-rulers in respect of abolition of their privy purses.
|
10(18A) |
61
|
Amount calculated as annual value being the notional
value in respect of any one palace to be treated for the purpose
as residence by ex-ruler.
|
10(19A) |
62
|
Income of a local authority as specified.
|
10(20) |
63
|
Income of a development or housing improvement
authority in a city and/or village.
|
10(20A) |
64
|
Income of approved scientific and research association.
|
10(21) |
65
|
Income of a university or other educational institution.
|
10(22) |
66
|
Income of a hospital or other such institution
working exclusively for philanthropic purposes and not for
profit.
|
10(22A) |
67
|
Income of news agency having been set up in India
for the sole purpose of collection & distribution of news
provided its income in any way is not distributed to its members.
|
10(22B) |
68
|
Income of associations for promotion of sports,
etc. as specified.
|
10(23) |
69
|
Any income of associations or institutions for
controlling professions of law, medicine, engineering, accountancy,
architecture, etc., except incomes derived from house property
or for rendering any specified services or interest on/dividends
from its investments.
|
10(23A) |
70
|
Income of regiment Fund or Nonpublic fund of armed
forces established for welfare of past and present members
|
10(23AA) |
71
|
Income of a fund established for welfare of employees
or their dependents, the employees being members thereof subject
to fulfillment of conditions as to approval and otherwise.
|
10
(23AAA)
|
72
|
Income of fund set up by LIC
from 1-4-1996 in respect of pension scheme subject to conditions
as specified.
|
10
(23AAB)
|
73
|
Income of a charitable trust or registered society,
etc. working exclusively for development of khadi & village
industries and not for profit as per conditions specified.
|
10(23B) |
74
|
Income of Khadi & Village Board, etc..
|
10(23BB) |
75
|
Income received by a statutory public religious
or charitable trust or endowment.
|
10
(23BBA)
|
76
|
Income of European Economic Community derived
in India in the shape of interest, dividends or capital gains
arising out of investments from its funds under such schemes
as notified.
|
10
(23BBB)
|
77
|
Any income of SAARC Fund having
been established under Colombo Declaration dt. 21-12-91 by
Heads of State or Government of member countries for the purposes
of development of regional projects.
|
10
(23BBC)
|
78
|
Income on behalf of Prime Minister's National
Relief Fund.
|
10
(23C)(i)
|
79
|
Income on behalf of Prime Minister's Fund (Promotion
of Folk Art.)
|
10
(23C)(ii)
|
80
|
Income on behalf of Prime Minister's Aid to Students
Fund.
|
10
(23C)(iii)
|
81
|
Income of National Foundation for Communal Harmony.
|
10 (23C)
(iii)(a)
|
82
|
Income of any fund or institution established
for charitable cause.
|
10
(23c)(iv)
|
83
|
Income of any trust or institution established
wholly for public religious and/or charitable purposes subject
to specified conditions.
|
10
(23c)(v)
|
84
|
Income of specified Mutual Funds registered and/or
set up under /by SEBI Act, 1992; public-sector
bank/financial institution or RBI fulfilling
such conditions as specified.
|
10(23D) |
85
|
Income of Exchange Risk Administration Fund having
been set up by public financial institutions either jointly
or separately as per specified conditions.
|
10(23E) |
86
|
Income in the shape of dividends or long-term
capital gains derived by a venture capital fund/company from
its investments in the equity of a venture capital undertaking
|
10(23F) |
87
|
Income in the shape of dividends, interest or
long-term capital gains derived by a infrastructure capital
fund/company from its investments in the equity or long-term
finance of any infrastructure facility oriented enterprise
fulfilling such conditions as specified.
|
10(23G) |
88
|
Income of registered trade-union relating to "income
from house property" and "income from other sources" as specified.
|
10(24) |
89
|
income received by trustees of Provident, Superannuation
& Gratuity Funds relating to interest on securities and
capital gains resulting from sale or exchange of such securities
as specified.
|
10(25) |
90
|
Income of Employees State Insurance Fund as specified.
|
10(25A) |
91
|
Income of member of Scheduled tribes as specified.
|
10(26) |
92
|
Income accruing to any person from any source
of income in the district of Ladakh or outside India subject
to the person being resident in the said district in the relevant
previous year and satisfying other conditions as specified.
|
10(26A) |
93
|
Income from winnings from lottery, agreement for
draw in respect of which having been entered into upto 28-2-89
between Sikkim Govt. and organising agents of such lottery
subject to fulfilling of such condition as specified. {to
be omitted from 1-4-1998}
|
10(26AA) |
94
|
income of any statutory corporation formed for
promoting the interests of Scheduled Castes or Scheduled tribes,
etc., as specified.
|
10(26B) |
95
|
Income of any statutory corporation formed for
promoting the interests of the members of any minority community.
|
10(26BB) |
96
|
income of any cooperative society formed for promoting
the interests of members of Scheduled Caste & Tribes.
|
10(27) |
97
|
Any amount adjusted or paid relating to Tax Credit
Certificates. {To be omitted from 1-4-1998}
|
10(28) |
98
|
Income of an authority from letting of godowns/warehouses
for storage, processing or facilitating marketing of goods
as specified.
|
10(29) |
99
|
Receipt by way of subsidy received from Tea Board
as specified.
|
10(30) |
100
|
Receipt by way of subsidy received from the concerned
Board by an assessee growing or manufacturing rubber, coffee,
cardamom and other notified commodities.
|
10(31) |
101
|
Income relating to minor child if clubbed u/s
64(1A) in the hands of the assessee not exceeding Rs.1,500
in respect of each minor chid.
|
10(32) |
102
|
Any income by way of dividends (whether interim
or otherwise) declared, distributed or paid by a Domestic
Company on or after 1-6-1997 as referred to in section 115-O.
|
10(33) |
103
|
Any profits and gains of newly established industrial
undertakings in free trade zones, electronic hardware/software
technology parks for any five consecutive assessment years
within a block of eight years from the assessment year corresponding
to previous year in which production started subject to fulfilling
all the conditions as specified.
|
10A |
104
|
Any profits and gains of newly established 100%
export-oriented units for any five consecutive assessment
year within a block of eight years from the assessment year
corresponding to previous year in which production started
subject to fulfilling all the conditions as specified.
|
10B |
105
|
Income of any person from the property held under
trust wholly or in part for charitable or religious purposes
as specified in detail and subject to the provisions of sections
60 to 63.
|
11 |
106
|
Receipt of any voluntary contributions by a trust/institution
created/ established wholly for charitable or religious purposes
excluding the contributions made to it with specific direction
to form part of corpus: Such voluntary contributions be deemed
to be income from property in terms of section 11.
|
12 |
107
|
Income of political party chargeable as income
from house property or other sources or by way of voluntary
contributions received by it from any person subject to conditions
as specified.
|
13A |