62 Income which are exempt from Tax u/s 10

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62 Income which are exempt from Tax u/s 10

 

Here is a list of total 62 income which is totally tax free from income tax

  1. Agriculture Income [Section 10(1)]
  2. Amount received out of family income, Hindu Undivided Family (H.U.F.) [Section 10(2)]
  3. Share of profit, [Section 10(2A)]
  4. Interest paid to Non-Resident [Section 10(4)(i)]
  5. Interest to Non-Resident on Non-Resident (External) Account [Section 10(4)(ii)]
  6. Interest paid to a person of Indian Origin and who is Non-Resident [Section 10(4 B)]
  7. Leave Travel Concession or Assistance [Section 10(5)]
  8. Remuneration or Salary received by an individual who is not a citizen of India [Section 10(6)] a. Remuneration [U/s 10(6)(ii)] b. Remuneration received as an employee of foreign enterprise [U/s 10(6)(vi)] c. Employment on a foreign ship [U/s 10(6)(viii)] d. Remuneration received by an employee of foreign government [U/s 10(6)(xi)]
  9. Tax paid by Government or Indian concern on Income of a Foreign Company [Section 10(6A), (6B), (6BB) and (6C)]
  10. Perquisites/Allowances paid by Government to its Employees serving outside India [Section 10(7)]
  11. Employees of Foreign Countries working in India under Cooperative Technical Assistance Programme [Section 10(8)]
  12. Income of a Consultant [Section 10(8A)]
  13. Income of Employees of Consultant [Section 10(8B)]
  14. Income of any member of the family of individuals working in India under cooperative technical assistance programmes [Section 10(9)]
  15. Gratuity [Section 10(10)] a. Gratuity received by Government servants [Section 10(10)(i)] b. Gratuity Received by a Non-Government Employee covered by Payment of Gratuity Act, 1972 [Section 10(10)(ii)]
  16. Commuted value of Pension Received [Section 10(10A)]
  17. Amount received as Leave Encashment on Retirement [Section 10(10AA)]
  18. Retrenchment Compensation received by Workmen [Section 10(10B)]
  19. Payment received under Bhopal Gas Leak Disaster (Processing of Claims) Act 1985 [Section 10 (10BB)]
  20. Compensation received in case of any disaster [Section 10(10BC) ]
  21. Retirement Compensation from a Public Sector Company or any other Company [Section 10(10C)]
  22. Tax on Non-monetary Perquisites paid by Employer [Section 10(10CC)]
  23. Amount received under a Life Insurance Policy [Section 10(10D)]
  24. Statutory Provident Fund [Section 10(11)]
  25. Recognized Provident Fund [Section 10(12)]
  26. Superannuation Fund [Section 10(13)]
  27. House Rent Allowance-HRA [Section 10(13A)]
  28. Business Expenditure Allowance [Section 10(14)]
  29. Interest Incomes [Section 10(15)]
  30. Scholarship [Section 10(16)]
  31. Allowance of M.P./M.L.A.I or M.L.C. [Section 10(17)]
  32. Awards Instituted by Government [Section 10(17A)]
  33. Pension received by certain winners of gallantry awards [Section 10(18)]
  34. Family pension received by family members of armed forces including para military forces [Section 10(19)]
  35. Income of a Local Authority [Section 10(20)]
  36. Income of Scientific Research Association [Section 10(21)]
  37. Income of a News Agency [Section 10(22B)]
  38. Income of some Professional Institutions [Section 10(23A)]
  39. Exemption of Income Received by Regimental Fund [Section 23AA] a. Income of a Fund set-up for the welfare of employees or their dependents [Section 10(23AAA)] b. Income of a pension fund set up by LIC or other insurer [Section 10(23AAB)]
  40. Income of State Level Khadi and Village Industries Board [Section 10(23BB)] a. Income of certain Authorities set up to manage Religious and Charitable Institutions [Section 10(23BBA)] b. Income of European Economic Community [Section 10(23BBB)] c. Income of a SAARC Fund for regional projects [Section 10(23BBC)] d. Any income of Insurance Regulatory and Development Authority [Section 10(23BBE)] e. Income of Prasar Bharti [Section 10(23BBH)] [Inserted by the Finance Act 2012, w.e.f. 2013-14]
  41. Any income received by a person on behalf of following Funds [Section 10(23C)]
  42. Income of Mutual Fund [Section 10(23D)]
  43. Exemption of income of a securitization trust [Section 10(23DA)j [w.e.f. A.Y. 2014-15]
  44. Income of Investor Protection Fund [Section 10(23EA)]
  45. Exemption of income of investor protection fund of depository [Section 10(23ED)] [w.e.f. A.Y. 2014-15]
  46. Exemption for Certain Incomes of a Venture Capital Company or Venture Capital Fund from Certain Specified Business or Industries [Section 10 (23FB)]
  47. Income of Registered Trade Unions [Section 10(24)]
  48. Income of Provident and Superannuation Funds [Section 10(25)]
  49. Income of Employee’s State Insurance Fund [Section 10 (25A)]
  50. Income of Schedule Tribe Members [Section 10(26) and 10(26A)]
  51. Income of Sikkimese individual [Section 10(26AAN] (With retrospective effect from 1-4-1990)
  52. Regulating the marketing of agricultural produce [Section 10[26AAB]
  53. Income of a corporation set-up for promoting the interests of Scheduled Castes, Scheduled Tribes or Backward Classes [Section 10(26B)]
  54. Income of a corporation set-up to protect the interests of Minorities [Section 10(26BB)]
  55. Any income of a Corporation established for Ex-Servicemen [Section 10(26BBB)]
  56. Income of cooperative society looking after the interests of Scheduled Castes or Scheduled Tribes or Both [Section 10(27)]
  57. Any income accruing or arising to Commodity Boards etc. [Section 10(29A)]
  58. Amount received as subsidy from or through the Tea Board [Section 10(30)]
  59. Amount received as subsidy from or through the concerned Board [Section 10(31)]
  60. Income of Child Clubbed U/s 64 (IA) [Section 10(32)]
  61. Exemption of income to a shareholder on buyback of shares of unlisted company [Section 10 (34A) [w.e.f. A.Y. 2014-15]
  62. Exemption of income from Securitization Trust [Section 10(35A)] [w.e.f A.Y. 2014-15

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