Incomes Exempt From Tax

Section	Eligible Assessee	Nature of income	Amount exempt	Conditions laid down for such exemption
10(1)	Any assessee	Agricultural income	Entire amount of such income	1. Agricultural income is defined in section 2(1A) which means any rent or revenue derived from land situated in India and used for agricultural purpose and subject to other conditions 2. It includes income from such land by agriculture or from performance / sales by cultivator or receiver of rent in kind to render produce raised or received to make it fit to take it to market 3. income derived from saplings or seedlings grown in nursery 4. income derived from any building owned or occupied by cultivator or receiver of rent used for purpose referred in clause 2. However income derived from processing of agricultural produce would not be considered as agricultural income. Income under this clause would be included in total income for limited purpose of determining rate of tax.
10(2)	Any individual as a member of HUF	Any sum received as a member of HUF	Entire amount so received	1. sum is received out of income of HUF 2. In case of impartible estate, such sum is paid out of income of the estate belonging to family. 3. sum so received is subjected to provisions of section 64(2)
10(2A)	Partner of the firm	Share of profit in total income of the firm	Entire amount	1. The firm is separately assessed to tax as such 2. The amount exempt would be such which bears the same ratio of total income of the firm, as the amount of his share in the profit of the firm as per partnership deed
10(4)(i)	Non resident assessee	Interest or premium on securities or bonds specified by central govt. before 1st June, 2002	Entire amount	1. special securities are notified as per notification No. SO.3331 dt. 19.10.1965
10(4)(ii)	An individual being non-resident as defined under section 2(q) of FERA, 1973	Interest earned on money standing in credit of his NRE account	Entire amount	1. The person is either non-resident or is allowed to maintain NRE account by RBI 2. money in the said account is deposited in accordance with FERA, 1973
10(4B)	A non-resident individual who is either citizen of India or person of Indian Origin	Interest on specified savings certificates	Entire amount	1. The individual has subscribed to such certificates in convertible foreign exchange remitted from out of India.
10(5)	An Individual	Leave travel concession or assistance received from employer or former employer	Amount received or actually spent on travel to any place in India as specified in Rule 2B which-ever is lower	1. The concession is allowed for the travel of self, spouse and children including wholly or mainly dependent parent, brothers and sisters. 2. The amount received after the retirement or termination of employment is also allowed subject to other conditions 3. The limit of amount allowed as deduction (refer Rule 2B) 4. The exemption under this section is allowed for two journeys made in the block of four years (Block starts from 1986)
10(6)(ii)	An Individual not being citizen of India	Remuneration received as an official or as member of staff of the officials of an embassy, high commission, consulate or trade representative of foreign state	Entire amount	1 Where the remuneration is received as Trade Commissioner or other official in India This exemption would be available only if a remuneration of corresponding officials of the government resident for similar purpose is exempt in the other country. 2 The remuneration received shall not be allowed if the member of staff is engaged in any business or profession or employment in India otherwise as a member of such staff
10(6)(vi)	An individual not being a citizen of India	Remuneration received as an employee of foreign enterprises, for services rendered during his stay in India	Entire amount	1. The foreign enterprises is not engaged in trade or business in India 2. His stay in India does not exceed ninety days in such previous year 3. Such remuneration is not deducted from the income of such enterprises.
10(6)(viii)	An individual being non-resident and not a citizen of India	salaries for services rendered on a foreign ship	Entire amount	The total stay of such person should not in aggregate exceed ninety days in such previous year
10(6)(xi)	An individual not being a citizen of India	Remuneration received as an employee of foreign state during his stay in India	Entire amount	1. The remuneration is received in connection with his training in any establishment or office owned or controlled or financed by government of India or any state government as specified
10(6A)	Any foreign company	Tax paid on income earned by way of Royalty or fees for technical services	Entire amount of such tax	1. The income is received from Government or Indian concern pursuant to any agreement. 2. The agreement should be in accordance with industrial policy if it relates to matter referred in such policy or else it should be approved by central govt. 3. The agreement should be entered into between 31.3.1976 to 1-6-2002
10(6B)	Non-resident (not a company) or a foreign company	Tax paid on income other than salary, Royalty or fees for technical services by government or Indian concern	Entire amount of such tax paid by govt. or Indian concern	1. The income is received from Government or Indian concern pursuant to any agreement entered into before 1-6-2002 between Central Government. and foreign state or an international organization 2. The tax is payable by govt. or Indian concern according to such agreement
10(6BB)	Government of foreign state or foreign enterprise	Tax paid on income derived from leasing of aircraft or aircraft engine as per agreement approved by central govt.	Entire tax paid by the Govt. or Indian company	1. The income is derived from leasing of aircraft or engine as per approved agreement and not from provisions of spares, facilities or services in connection with operation of the same. 2. The agreement must be entered into after 31.3.1997 and before 1-4-1999 or after 31.3.2007 3. The expression foreign enterprise mean a person who is non-resident
10(6C)	Foreign company as notified by central government	Royalty or fees for technical services for projects connected with security of India	Entire amount	1. The amount should be received pursuant to agreement with government of that state in relation to providing services in India or outside India 2. such services should be for projects connected with security of India.
10(7)	A citizen of India	Amount paid or allowed by the govt. outside India	Entire amount	1. The amount is paid by way of allowances or perquisites outside India for services provided outside India. 2. Such amount is paid / allowed by Govt. of India
10(8)	An Individual	Remuneration for duties assigned in India and any other income accrues or arises outside India	Entire amount	1. The duties are assigned in connection with co-operative technical assistance programmes or projects as per agreement between central Govt. and foreign state. 2. The remuneration is paid by foreign state 3. The terms of such agreement provide for exemption under this clause. 4. Any other income which accrues or arises outside India is subjected to any income or social security tax in other state.
10(8A)	An individual who is either not a citizen of India or is not ordinarily resident in India. or Any other person who is not a resident of India	Any remuneration or fees received under a technical grant assistance agreement, from, funds made available to international agency Any other income which does not accrue or arise in India	Entire amount	1. The fees or remuneration is paid for technical services rendered in India under the technical assistance programme or project. 2. The sum is paid directly or indirectly out of funds made available to international organization as per agreement between such organization & government of foreign state. 3. The technical assistance provided is in accordance with such agreement. 4. Any agreement for appointment of consultant shall have to be approved by the authorities prescribed. 5. Any other income which accrues or arises outside India is subjected to any income or social security tax in other state.
10(8B)	An individual who is either not a citizen of India or is not ordinarily resident in India.	The remuneration received for services rendered in India from consultant referred to in sec 10(8A) Any other income which does not accrue or arise in India	Entire amount	1. The individual should be an employee of consultant referred to in clause 8A above. 2. His contract of service is approved by the prescribed authority. 3. The remuneration is received in connection with technical assistance programme referred to in clause 8A. 4. Any other income which accrues or arises outside India is subjected to any income or social security tax in other state. The prescribed authority for clauses 8A & 8B are The Additional Secretary, Department of Economic Affairs in Ministry of Finance, Government of India, in concurrence with members CBDT
10 (9)	An Individual who is a member of the family of person referred to in sections 10(8), 10(8A) & 10(8B).	Any income accrues or arises outside India	Entire amount	Any such income which accrues or arises outside India is subjected to any income or social security tax in other state.
10 (10)	An Individual	Death cum Retirement Gratuity	As per conditions	For conditions refer Salary section.
10 (10A)	An Individual	Commuted Pension	As per conditions	For conditions refer Salary section
10 (10AA)	An Individual	Leave Encashment	As per conditions	For conditions refer Salary section
10 (10B)	An Individual	Compensation/award received at the time of his retrenchment	An amount as per section 25F(b) of the Industrial Dispute Act, 1947 or Rs 5,00,000 whichever is lower. In special case any amount received as per any scheme approved by the Government	The compensation received on retrenchment would include 1. Amount received at the time of the closing down of the undertaking. 2. Amount received at the time of transfer ownership of an undertaking subjective to condition (refer salary section). 3. In special cases looking to the need for special protection to the workmen the Government may approve the scheme for compensation to be paid to workmen which will be exempt from tax paid as per such scheme
10 (10BB)	Any person	Any payment received under Bhopal Gas Leak Disaster (Processing of Claims Act), 1985	Entire amount	In case if the assessee is allowed deductions under the IT Act for any payment in connection with any loss or damage caused by such disaster, the same shall not be allowed under this clause.
10(10(BC)	Any Individual or his legal heirs	Any compensation received from State or Central Government on account of any disaster	Entire amount	1. In case if the assessee is allowed deductions under the IT Act for any payment in connection with any loss or damage caused by such disaster, the same shall not be allowed under this clause. 2. The expression "disaster" shall have a meaning as defined under section 2(d) of Disaster Management Act, 2005.
10 (10C)	Individual employee	Amount received on voluntary retirement	Amount received as per scheme not exceeding Rs. 5,00,000/-	1. The scheme of voluntary retirement should be framed in accordance with Guidelines prescribed (Rule 2BA) 2. Once the exemption is allowed under this clause in any assessment year, the same shall not be allowed in any other assessment year 3. From A.Y. 2010-11 if the assessee has been allowed relief u/s 89 for such payment in any assessment year, the exemption shall not be allowed under this clause.
10(10CC)	Individual employee	Tax on income derived as perquisite	Entire amount of such tax	1. The perquisite shall not be provided as monetary payment as referred in section 17(2) 2. Tax payment can be made by the employer irrespective of any restriction specified u/s 200 of Companies Act.
10(10D)	An Individual	Amount received under life insurance policy including any bonus allotted on such policy	Entire amount	1. The following amount shall not be allowed as exemption under this clause • Amount received u/s 80DD(3) or 80DDA(3) • Amount received under keyman insurance policy • From 1.4.2003 amount received under the policy where premium in any year of term of policy exceeds twenty per cent of capital sum insured (not to apply in case amount is received on death of a person) 2. Capital sum insured shall be considered giving effect to explanation to section 80C(3) or 88(2A)
10(11)	An Individual	Amount received from provident funds	Entire amount	1. The payment is received from the funds • Either to which Provident Fund Act, 1925 applies or • Any notified provident funds set up by Central Government. (Notification No. SO-2430 dt. 2.7.1968)
10(12)	An Individual employee participating in recognized provident fund	Accumulated balance due and payable under recognized provident fund	Amount as provided in Rule 8 of part A of fourth Schedule	1. The employee has rendered services for continuous period of five years, except in cases where his services are terminated due to ill health, discontinuation of employer’s business or other cause beyond his control 2. Where he takes other employment, the amount should be transferred to recognized P F account maintained by other employer (in such cases period of his earlier employment would be counted for continuous period of five years) 3. The part A of fourth schedule does not apply to Provident Funds Act, 1925
10((13)	An Individual	Any payment received from Superannuation Fund	Entire amount	The payment of superannuation fund is made • On death of beneficiary • In lieu of or commutation of annuity on retirement at or after specified age Or he being incapacitated before such retirement • As refund of contribution on death of beneficiary. • As a refund of contribution on leaving service, to the extent payment does not exceed contribution and interest thereon prior to commencement of I T Act,1961
10(13A)	An Individual employee	House Rent allowance	As per rule 2A	For details Refer salary section
10(14)	An individual	Special allowance granted to meet expenses incurred in performance of duties	As per Rule 2BB	For details Refer salary section
10(15)(i)	All assessees	Interest, premium on redemption, securities, bonds, certificates, as notified by govt.	Entire amount	Notifications issued under this clauses are • SO 607(E), dt.9-6-1989 • SO 653(E) dated 31-8-1992 • SO 844(E) dated 21-9-1998 • SO 742(E) dated 27-6-2003 • SO 1114(E) 10-8-2005 • 281/2004/ F No. 178/20/2004 Dt.18-11-2004
10 (15)(iib)	Individual or HUF	Interest on Notified capital bond	Entire amount	No Bond shall be notified after 1-6-2002 Notification issued under this clause • SO 413(E) Dt. 11-6-1982
10(15)(iic)	Individual or HUF	Interest on notified relief Bonds	Entire amount	Notification issued under this clause • F 4(9) W&M/2003 dt. 13-3-2003 • F 4(9) W&M/2003 dt. 9-7-2004 • F 4(5) W&M/2002(i) dt. 28-2-2003 • F 4(13) W&M/2002 dt. 28-2-2003
10(15)(iid)	Individual non-resident Indian	Interest on notified Bonds	Entire amount	1. Person receiving such bonds as nominee, or survivor or gift from such NRI is also entitled to benefit under this clause. 2. The NRI should invest in the bond in Foreign exchange and on maturity the amount shall not be entitled to be repatriated 3. Benefit would not be withdrawn if the NRI becomes resident of India. 4. where the bond is encashed before maturity exemption would not be allowed for said previous year Govt. shall not notify any such bonds after 1-6-2002.
10(15)(vi)	All assessees	Interest on notified gold deposit bond	Entire amount	Gold deposit bonds issued under Gold Deposit Scheme, 1999
10(15)(vii)	All assessees	Interest on Bonds	Entire amount	Bonds issued by local authority or state pooled finance entity as specified by the Central Government.
10(15)(viii)	Person who is non-resident or not ordinary resident	Interest on offshore Banking units	Entire amount	1. Deposits made on after 1-4-2005 shall be eligible for exemption. 2. Deposit is made in offshore banking unit as defined in section 2(u) of SEZ Act, 2005
10(15A)	Government of a foreign state or foreign enterprise	Income derived from leasing of aircraft or aircraft engine	Entire amount	1. Income is received from Indian company engaged in operation of aircraft 2. Payment made for spares, facilities or services in connection of leasing is not allowed as exemption under this clause 3. This clause shall not apply to any agreement of such lease entered into between 1-4-1997 and 31-3-1999 or after 1-4-2007.
10(16)	An individual	Scholarship	Entire amount	• Scholarship is granted to meet cost of education • The term scholarship may include certain allowances granted to the persons for the purpose of specified research
10(17)	A member of Parliament or State Legislature or any committee formed thereof	Daily allowances or constituency allowance	Entire amount	Following allowances are exempt under this clause • Daily allowance to Member of Parliament, member of State legislature or any committee thereof. • Amount received by member of Parliament under Constituency Allowance Rules,1986 • Constituency allowance received by member of State Legislature under any Rules made by the State Legislature
10(17A)	Any assessee	Award or Reward received in cash or in kind	Entire amount	• Award received should be given in public interest by Central or State Government or any other body and approved by Central Government • Reward for such purpose as approved by the Central Government in public interest given by central and State Governments
10(18)	Any eligible Central or State Government employee	Pension or family pension received by the family member as the case may be	Entire amount	• The eligible employee has been awarded Param Vir Chakra, or Maha Vir Chakra, or Vir Chakra or any other notified gallantry awards by Central Government
10(19)	Widow, children or nominated heir of member of army	Family pension received	Entire amount	• The member of armed force or paramilitary force should have died in the course of operational duty under prescribed conditions and circumstances
10(19A)	Any Ruler (individual)	Annual value of any palace/s in occupation of such ruler	Entire amount	1. The annual value of such palace/s was exempt from income tax before the commencement of constitution (Twenty Sixth Amendment) Act, 1971 on account of provisions of merged states (Taxation Concessions) Order, 1949 or Part B States (Taxation Concessions) Order, 1950 or Jammu and Kashmir (Taxation Concessions) Order, 1958.
10(20)	Income of panchayat, municipality, municipal committee, district Board or cantonment board	Income from house property, capital gains, from trade or business and income from other sources	Entire amount	1. income from trade or business should accrue • From supply of commodity or services other than water and electricity in its area. or • From supply of water or electricity within or outside its jurisdictional area
10(21)	Any Research Association	Any income	Entire amount	1. The research Association should be approved for the purpose of section 35(1) clause (ii) and clause (iii) 2. It applies or accumulates the income wholly and exclusively for its stated purpose 3. Provisions of sections 11(2) and 11(3) shall apply with such modification as specified 4. If the Central Government is satisfied that various conditions laid down is not satisfied it may withdraw the exemption after giving opportunity of being heard to such association.
10(22B)	Any notified news agency	Any income	Entire income	1. The news agency is set up solely for collection and distribution of news and applies its income or accumulation for collection or distribution of news as such. 2. It does not distribute its income to its members in any manner 3. The government notification at any one time shall have effect, not exceeding three years, as may be specified 4. The government may after giving opportunity to agency, rescind such notification if it finds that the agency does not adhere to the specified conditions.
10(23A)	An association or institution set up in India for specified professions	Any income other • Income from house property • Interest or dividend from investment • Income from rendering specified services	Entire income	1. The association should be approved by the central than government 2. The notified institution should apply or accumulated income for the purpose for which it is established 3. The government may after giving opportunity to such institution, withdraw the approval if it finds that such institution does not adhere to the specified conditions.
10(23AA)	Any person	Any income	Entire amount	Income is received on behalf of Regimental fund or non Public fund, established by armed force for welfare of its member or his dependent.
10(23AAA)	Any person	Any income	Entire amount	1. Income is received on behalf of fund established for notified purpose by Board for welfare of employees or their dependents. 2. The fund applies or accumulates its income exclusively for the purpose for which it is established. 3. The fund shall invest its income, contribution or other sum as specified u/s 11(5) of the Act. 4. The fund is approved as per rule 16C by commissioner who may approve such fund for any period not exceeding three years.
10(23AAB)	Any fund set up by LIC or other insurer	Any income	Entire amount	1. The fund is set up after 1-8-1996 by LIC or other insurer for pension scheme to which contribution is made by any person to receive pension from such fund 2. The fund is approved by Controller of insurance or other authority established under Insurance Regulatory and Development Authority Act, 1999.
10(23B)	An institution constituted as Society or public charitable trust	Any income	Entire amount	1. The institution is established for Khadi and Village industries 2. The same is approved by Commissioner of Khadi and Village Industries Commission, who may grant approval for any period not exceeding three years 3. The institution shall apply or accumulate its income solely for development of Khadi and Village industries. 4. The Commissioner may after giving opportunity to such institution, withdraw the approval if he finds that such institution does not adhere to the specified conditions.
10(23BB)	Authority established under state or provincial Act for development of Khadi and village industries	Any income	Entire amount	Khadi and Village Industries shall have meaning assigned in Khadi and Village Industries Commission Act, 1956
10(23BBA)	Authority or body established or appointed under Central, State or Provincial Acts	Any income	Entire amount	The authority is established to provide administration of public religious or charitable trusts, endowments (Temples, Maths, Wakfs,Synagogues, etc.), societies for religious or charitable purpose formed under the applicable laws. The provisions of this section are not applicable to income of trusts, endowments or societies referred to above.
10(23BBB)	European Economic community	Interest, dividend, capital gains	Entire income	The income is earned out of investments made under notified schemes by Central Government.
10(23BBC)	SAARC Fund for regional projects	Any income	Entire amount	The fund is set up by Colombo Declaration issued on 21-12-1991 for regional projects
10(23BBE)	Insurance regulatory and Development Authority	Any income	Entire amount	The authority is established under section 3(1) of Insurance Regulatory and Development Authority Act, 1999.
10(23BBG)	Central Electricity Regulatory Commission	Any income	Entire amount	The commission is constituted under section 76(1) of the Electricity Act, 2003
10(23C)	Income of following entities • P.M’s National Relief Fund. • P.M’s fund for promotion of folk art • P.M’s Aid to student fund • National foundation for communal harmony • Hospital or other institution wholly financed by Central govt. for treatment of specified illness and established for philanthropic purpose only. • University or educational institution set up for education purpose and not for profit and whose gross receipt does not exceed Rs.1 crore. • Hsopital or other institution set up for philanthropic purpose for treatment of specified illness and whose gross receipts does not exceed Rs.1 crore. • Other charitable trusts, universities, hospitals, charitable organization approved by specified authority	Any income	Entire income	1. The fund, trust university, hospitals, charitable organization requiring approvals shall make an application in prescribed form to prescribed authority for the grant of or continuation of exemption. 2. Exemption shall not be available for anonymous donations referred to in section 115BC. 3. The provisions similar to section 11, 12 or 12AA shall also apply to various institutions referred to herein. 4. the institutions where their income exceeds the maximum amount chargeable to tax, shall get their accounts audited.
10(23D)	Specified Mutual funds	Any income	Entire amount	1. The mutual fund is either registered under SEBI or is set up by public sector Bank, public sector financial institution or such fund as approved by RBI and shall be subjected to such conditions as notified.
10(23EA)	Investor protection fund set up by recognized stock exchange	Any income by way of contribution received from recognized stock exchange or its member	Entire amount	1. The fund is set up by recognized stock exchanges in India either jointly or separately as may be notified by Central Government 2. The amount which is standing in credit and not subjected to tax under this provision is shared with the recognized stock exchange the same shall be chargeable to tax in the year in which the same is shared.
10(23EC)	Investor protection fund set up by commodity exchange	Any income by way of contribution received from commodity exchange or its member	Entire amount	1. The fund is set up by commodity exchanges in India either jointly or separately as may be notified by Central Government 2. The amount which is standing in credit and not subjected to tax under this provision is shared with the commodity exchange, the same shall be chargeable to tax in the year in which the same is shared.
10(23FB)	Venture capital fund or or venture capital company	Any income from investment in venture capital undertaking	Entire amount	1. venture capital company means the one • which has been granted certificate of registration under SEBI Act and Rules and fulfils notified and approved specified conditions 2. venture capital fund means such fund • operating under trust deed or as venture capital scheme made by UTI and has been granted certificate of registration under SEBI Act and Rules and fulfils notified and approved specified conditions. 3. Venture capital undertaking means • Domestic company whose shares are not listed in recognized stock exchange and is engaged in business of specified activities
10(24)	Registered union or Association of such unions	Income from house property or income from other sources	Entire income	1 The union is registered under Trade Union Act,1926 2 It is formed with the object of regulating relations between workmen and employers or between workmen and workmen
10(25)	Provident fund, Superannuation fund, Gratuity fund, Coal Mines P.F., employees PF	Interest on securities and capital gains on sale such securities held by provident fund to which Provident fund Act, 1925 applies. In any other case any income	Entire amount	Any income received by trustees or board of trustees of following funds are fully exempt • Recognized Provident fund • Approved superannuation fund • Approved gratuity fund • Coal Mines Provident Fund and Miscellaneous Provisions Act, 1948 • Employees Provident Fund and Miscellaneous Provisions Act, 1952.
10(26)	Employees state insurance fund	Any income	Entire income	E S I C fund is set up under Employees State Insurance Act,1948.
10(27)	Member of schedule Tribes residing in specified areas	Any income from source in that area Interest and dividend on securities	Entire income	The schedule tribe is defined under article 366(25) of the constitution
10(26AAA)	An Sikkimese individual	Any income accrues from source in Sikkim Interest or dividend on securities	Entire income	The expression Sikkimese have a meaning as given in explanation to this section. The income of Sikkimese woman marrying to non-sikkimese persons after 1-4-2008 shall not be entitled to exemption under this clause
10(26AAB)	Agricultural Produce Market Committee or Board	Any income	Entire income	The APMC or board is constituted under any law for the purpose of regulating marketing of agricultural produce
10(26B)	Government corporation or any association, body, institution wholly financed by government	Any income	Entire income	The corporation is established by a Central, State or provincial Act or any association, body, institution wholly financed by the government and are formed with the object to promote interest of schedule caste, schedule Tribe or backward classes.
10(26BB)	Government corporation formed by State or Central Government	Any income	Entire income	Such corporation is established to promote the interest of the notified minority community
10(26BBB)	corporation formed by State or Central or Provincial Act	Any income	Entire income	• Such corporation is formed for the welfare and upliftment of ex-service men being citizen of India and served for armed force of union or Indian state before the commencement of Constitution of India. • The term ex-service men is defined in explanation to this section
10(27)	A co-operative society	Any income	Entire income	1. Such co-operative societies are formed for promoting interest of schedule caste or schedule tribes 2. Members of such societies shall consist only of other societies formed for similar purpose and 3. Funds of the society is provided by the government or such other society.
10(29A)	Various Boards or authorities established under various Acts	Any income	Entire income	Income of various boards like Tea Board, Coffee Board, Rubber Board, Tobacco Board, Spices Board, Coir Board, Marine Products Export Development Authority, and Agricultural and Processed product export authority formed under various laws as applicable to such Boards
10(30)	Any assessee engaged in growing and manufacturing tea in India	Subsidy received from Tea Board.	Entire amount so received	1. Subsidy is received for replantation or replacement of tea bushes or for rejuvenation or consolidation of area used for cultivation of tea under scheme notified by government. 2. The assessee shall furnish certificate of subsidy so received to the income tax officer along with return of income.
10(31)	Any assessee carrying on business of growing and manufacturing rubber, coffee, cardamom or other commodities notified by Central Govt.	Subsidy received from concerned Board	Entire amount so received	1. Subsidy is received for replantation or replacement of respective commodity bushes or for rejuvenation or consolidation of area used for cultivation of such commodity under scheme notified by government. 2. The assessee shall furnish certificate of subsidy so received to the income tax officer along with return of income
10(32)	An assessee referred to in section 64(1A)	Income included u/s 64(1A)	Income included in assessee’s income u/s 64(1A) to the extent it does not exceed Rs. 1500/- for each minor child.	Any income of minor child other than specially exempt are included in the income of the parent and any such income included in the hands of the parent shall be excluded to the extent of Rs. 1500/- for each child.
10(33)	Any assessee	Income arising from transfer of units held as capital assets of Unit Scheme, 1964.	Entire income	The transfer of such unit is made after 1-4-2002
10(34)	Any assessee	Dividend	Entire amount	Dividend exempt under this provisions is as referred to in section 115-O
10(35)	Any assessee	Income received in respect of Units of specified mutual fund, specified undertaking, specified company, other than on transfer of such units	Entire income	Income on transfer of such units are not exempt under this provision
10(36)	Any assessee	Long term capital gains on transfer of eligible equity shares	Entire amount	1. The transfer took place after 1.3.2003 but before 1.3.2004. 2. Transactions are entered into on a recognized stock exchange 3. eligible equity shares mean • share of company being part of BSE-500 as on 1.3.2003 or • shares of company allotted in public issue on or after 31.3.2003 and the company is listed on recognized stock exchange before 1.3.2004
10(37)	Individual or HUF	Capital gains arising out of sale of agricultural land	Entire gain	1. The land is situated in area as referred to in section 2(14)(iiia) or 2(14)(iiib) 2. Such land was used in previous two years from the date of transfer for agricultural purpose by the assessee or his parents 3. Transfer is by way of compulsory acquisition or consideration or enhanced consideration of which is approved by RBI or Central Govt. 4. Such income arises on or after 1.4.2004
10(38)	Any assessee	Long term capital gains on sale of equity shares or units of equity oriented fund	Entire amount	1. The gains arises from transfer takes place after chapter VII of Finance Act (No. 2) Act, 2004 came into existence 2. such transactions are chargeable to STT 3. The income will be included while computing Book profit for the purpose of section 115JB. 4. Equity oriented fund means fund • whose 65% of investible fund is invested by way of equity shares in domestic company • fund is set up under scheme of mutual fund specified u/s 10(23D)
10(39)	Notified persons	Specified income out of international sporting events	Income to the extent notified by central government	1. Income out of international sporting event is exempt in the hands of notified persons if such events are • approved by international regulating body of such event • events are participated by more than two countries • event is notified by Central Government
10(40)	Any Subsidiary company	Income received from Indian holding company	Entire amount	The income is received by way of grant or other income from Indian holding company for the revival or reconstruction of existing power generating business.
10(42)	Notified body or authority	Specified income	Entire amount	1. Body or Authority is constituted under a treaty or agreement signed by Central Government with two or more countries or convention. 2. It is constituted not for profit 3. The authority or body and income exempt shall be notified by the Central Government
10(43)	An individual	Amount received as loan	Entire amount	The loan received either in lump sum or in installments should be in transaction of reverse mortgage as referred to in section 47(xvi).
10(44)	New pension system trust	Any income received for and on behalf of such trust	Entire amount	Such pension system trust, as is established on 27-2-2008 under Indian Trust Act, 1882.
10(45)	Chairman or member (including retired one) of union public service commission	Notified allowance or perquisites	Entire amount	Any notified allowance or perquisites to such persons paid (w.r.e.f. 1-4-2008)
10(46)	Any body, authority, Board or Trust	Specified income	Specified amount	1. Such body, authority, etc. should be formed under Central, State or Provincial Act or by the Central or State Government. 2. The such body should be established for regulating or administrating activities for benefit of general public. 3. The nature and the extent of income exempt, shall be specified by the Central Government.
10(47)	Infrastructure debt fund	Any income	Entire income	1. The fund is set up as per prescribed guidelines 2. The notification is issued by the Government in this regard.