The following incomes are exempt from tax :
| Section | |
| 1. Agricultural income | 10(1) |
| 2. Payments received from family income by a member of a HUF | 10(2) |
| 3. Share of profit from a firm | 10(2A) |
| 4. Interest received by a non-resident from prescribed securities | 10(4) |
| 5. Interest received by a person who is resident outside India on amounts credited in the “Non-resident (External) Account” |
10(4)
|
| 6. In the case of an Indian citizen or a person of Indian origin who is a non-resident, the interest from notified Central Govt. Securities [i.e.,national savings certificates, VI and VII Issues] if such certificates are subscribed in foreign currency or other foreign exchange remitted from outside through official channels. |
10(4B)
|
| 7. Leave travel concession provided by an employer to his Indian citizen employee |
10(5)
|
| 8. Tax paid by employer of non-resident Indian technician | 10(5B) |
| 8A. value of concessional passage money received by a foreign national employee from his employer |
10(6)(I)
|
| 9. Remuneration received by foreign diplomats of all categories | 10(6) |
| 10. salary received by a foreign citizen in India as an employee of a foreign enterprise provided his stay in India does not exceed 90 days |
10(6)(VI)
|
| 11. Salary received by a non-resident foreign citizen as a member of ship`s crew provided his stay in India does not exceed 90 days |
10(6)(VIII)
|
| 12. Remuneration received by a non-resident foreign national, of a foreign Government deputed in India for training in a Government establishment or public sector undertaking. |
10(6)(XI)
|
| 13. Tax paid on behalf of foreign companies | 10(6A) |
| 14. Tax paid by Government or an Indian concern in the case of a non-resident/foreign company | 10(6B) |
| 15. Income arising to notified foreign companies from services provided in or outside India in projects connected with the security of India |
10(6C)
|
| 16. Foreign allowance granted by the Government of India of its employees posted abroad |
10(7)
|
| 17. Remuneration received from a foreign Government by an individual who is in India in connection with any sponsored co-operative technical assistance programme with a foreign Government and the income of the family members of such employee |
10(8) and (9)
|
| 18. Remuneration/fees received by non-resident consultants and their employers | 10(8A) and (8B) |
| 19. Death-cum-retirement gratuity | 10(10) |
| 20. Computed value of pension (See Para 8, point 11 of table) and any payment received by way of commutation of pension by an individual out of annuity plan of LIC or any other insurer from a fund set up by that corporation or insurer |
10(10A)
|
| 21. Leave Salary | 10(10AA) |
| 22. Retrenchment compensation | 10(10B) |
| 23. Compensation received by victims of Bhopal gas leak disaster. | 10(10BB) |
| 24. Compensation from the Central Government or a State Government or a local authority received by an individual or his legal heir on account of any disaster, applicable from the assessment year 2005-06. |
10(10BC)
|
| 25. Compensation received from a public sector company at the time of voluntary retirement or separation |
10(10C)
|
| 26. Tax on perquisite paid by employer | 10(10CC) |
| 27. Any sum (including bonus) on life insurance policy (not being a Keyman insurance policy) |
10(10D)
|
| 28. A Accumulated balance due and becoming payable to an employee from a recognized provident fund to the extent it is provided. |
10(12)
|
| 29. Amount from an approved superannuation fund to legal heirs of the employee |
10(13)
|
| 30. House rent allowance subject to certain limits | 10(13A) |
| 31. Special allowance granted to an employee | 10(14) |
| 32. Income received by a public financial institution as exchange risk premium in certain cases |
10(14A)
|
| 33. Interest from certain exempted Securities | 10(15) |
| 34. Payment made by an Indian company, engaged in the business of operation of an acquire an aircraft on lease from a foreign Government or foreign enterprise. |
10(15A)
|
| 35. Scholarship granted to meet the cost of education. | 10(16) |
| 36. daily allowance of a member of parliament or State Legislature (entire amount is exempt), and any other allowance subject to certain conditions |
10(17)
|
| 37. Rewards given by the Central or State Government for literary scientific or artistic work or attainment or for service for alleviating the distress of the poor, the weak and the ailing, or for proficiency in sports and games or gallantry awards approved by the Government |
10(17A)
|
| 38. pension and family of gallantry award winners | 10(18) |
| 38A. Ex gratia payments made by the Central Government consequent on the abolition of privy purse |
10(18a)
|
| 39. Family pension received by family members of armed forces | 10(19) |
| 40. Notional property income of any one place occupied by a former ruler | 10(19A) |
| 41. Income of local authorities | 10(20) |
| 42. Any income of housing boards constituted in India for planning, development or improvement of cities, towns or villages |
10(20A)
|
| 43. any income of an approved research association | 10(21) |
| 44. Income of a notified news agency (i.e., PTI for the assessment years 1994-95 to 2002-03 and UNI for the assessment years 1994-95 to 2002-03) |
10(22B)
|
| 45. Any income (other than interest on securities, income from property, income received for rendering any specific services and income by way of interest or dividends) of approved professional bodies |
10(23A)
|
| 46. Any income received by any person on behalf of any Regimental Fund or non-public fund established by the armed forces of the Union for the welfare of the past and present members of such forces or their dependents |
10(23AA)
|
| 47. Any income of the pension fund set up by LIC or any other insurer approved by the Controller of Insurance or insurance Regulatory and development Authority |
10(23AAB)
|
| 48. Income of funds established for the welfare of employees | 10(23AAA) |
| 49. Any income (other than business income) of a trust or a society approved by khadi and Village Industries Commission |
10(23B)
|
| 50. Income of an authority whether known as Khadi and Village Industries Board or by any other name for the development of Khadi and Village industries |
10(23BB)
|
| 51. Income arising to anybody or authority established, constituted or appointed under any enactment for the administration of public, religious or charitable trusts or endowments or societies for religious or charitable purposes |
10(23BBA)
|
| 52. Income of the European Economic Community derived in India by way of interest, dividends or capital gains in certain cases under the European Community International Institutional Partners Scheme, 1993 |
10(23BBB)
|
| 53. Any income of SAARC fund for Regional projects | 10(23BBC) |
| 54. Any income of Secretariat of Asian Organization of Supreme Audit Institutions |
10(23BBd)
|
| 55. Income of North-Eastern Finance Corporation | 10(23BBF) |
| 56. Income of Central Electricity Regulatory Commission | 10(23BBG) |
| 57. income received by any person on behalf of specified national funds, approved public charitable institutions, educational institute and hospital |
10(23C)
|
| 58. Income of a Mutual Fund set up by a public sector bank or public financial institution |
10(23D)
|
| 58A. Income of the notified Exchange Risk Administration Fund, (i.e., Exchange Risk administration fund set up by IDBI, IFCI and ICICI or set up by the Power Finance Corporation Ltd.) |
23(23E)
|
| 59. Income if investor protection Fund Trust | 10(23EA) |
| 60. Income of Credit Guarantee Fund Trust | 10(23EB) |
| 61. Income of investor Protection Fund by way of contributions from commodity exchange and the members thereof |
10(23EC)
|
| 62. Income by way of dividends and long-term capital gains of venture capital funds and venture capital companies |
10(23F)
|
| 63. Income by way of dividend or long-term capital gain of venture capital fund/undertaking |
10(23FA)
|
| 64. Income of venture capital fund/venture capital company | 10(23Fb) |
| 65. Dividend interest, etc. of an infrastructure capital fund | 10(23G) |
| 66. Income by way of interest on securities property income and income from other sources of a registered trade union or an association of registered trade unions |
10(24)
|
| 67. Any income received by a person on behalf of statutory provident fund, recognized provident fund, approved superannuation fund, approved gratuity fund and approved coal-mines provident fund |
10(25)
|
| 68. Income of employees` State Insurance Fund | 10(25A) |
| 69. Income of a member of a scheduled tribe, residing in Nagaland, Manipur, Tripura, Arunachal Pradesh, Mizoram and Ladakh which accrues/arises to him from any source in the said area or any income by way of dividend and interest on securities |
10(26)
|
| 70. Any income accruing or arising to any resident of Ladakh from any source therein or out of India up to the assessment year 1988-89, provided that such person was resident in Ladakh in the previous year relevant to the assessment year 1962-63. |
10(26A)
|
| 70A. Any income of an individual, being a Sikkimese, which accrues or arises from any source in the State of Sikkim or by way of dividend or interest o securities applicable from the assessment year 1990-91. |
10(26AAA)
|
| 70B. Any income of an agricultural produce marketing committee/board constituted under any law for the purpose of the marketing of a agricultural produce |
10(26AAB)
|
| 72. Income of National Minorities development and Finance Corporation | 10(26BB) |
| 73. Income of ex-serviceman | 10(26BBB) |
| 74. Income of a co-operative society formed for promoting interest of members of scheduled castes/tribes |
10(27)
|
| 75. Income of certain Commodity Boards/Authorities |
10(29A)
|
| 76. Subsidy from the Tea Board for replanting or replacement of tea bushes or for rejuvenation or consideration of areas used for cultivation of tea in India |
10(30)
|
| 77. Subsidy received by planters | 10(31) |
| 78. Income of minor child up to Rs. 1, 500 in respect of each minor child whose income is includible under section 64(1A) |
10(32)
|
| 79. Capital gains of transfer of US 64 [See Para 50.9] | 10(33) |
| 80. Dividend on or after April 1, 2003 from domestic companies | 10(34) |
| 81. Interest on units of a Mutual Fund on or after April 1, 2003 | 10(35) |
| 82. Capital gains on transfer of listed equity shares [See Para 50.9] | 10(36) |
| 83. capital gains on compensation received on compulsory acquisition of urban agriculture land. |
10(37)
|
| 84. Long-term capital gains on transfer of securities not chargeable to tax in cases covered by transaction tax |
10(38)
|
| 85. Income of an international sporting event | 10(39) |
| 86. Grant by subsidiary company | 10(40) |
| 87. Capital gain in the above case | 10(41) |
| 88. Income of certain bodies | 10(42) |
| 89. Any income received by an individual as a loan, either in lump sum or in installments in a transaction of reserve mortgage, applicable from the assessment year 2008-09 |
10(43)
|
| 89A. Any income received by any person for, or on behalf of the New Pension System Trust [clause (44) applicable from the assessment year 2009-10]. |
10(44)
|
|
10(45)
|
|
10(46)
|
|
10(47)
|
| 90. Any income of a political party by way of interest on securities, property income, income from other sources of income by way of political contributions |
13A
|
| 91. Voluntary contribution received by an electoral trust if a few conditions are satisfied [Sec. 13B, applicable from the assessment year 2010-11] |
13B
|
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