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Understanding of Exempted Income
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| Book Details | |
| Title | Understanding of Exempted Income |
| ISBN | 978-93-7833-148-0 |
| Edition | Edition 2026 |
| Pages | 720 |
| Authors | Ram Dutt Sharma |
| Publisher | Commercial Law Publishers |
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Description
Understanding of Exempted Income – Edition 2026 is a comprehensive and analytical guide on provisions relating to exempt income under the Income Tax law. Authored by Ram Dutt Sharma and published by Commercial Law Publishers, this book provides in-depth coverage of income that is wholly or partially exempt from taxation.
With 720 pages of detailed content, the book explains section-wise exemptions, eligibility conditions, scope, limitations, judicial interpretations, and practical implications. It simplifies complex provisions and highlights key issues faced during assessments and compliance.
This publication is highly valuable for chartered accountants, tax practitioners, advocates, finance professionals, consultants, academicians, and students dealing with direct tax planning, compliance, and litigation.
📘 Key Features:
- Detailed coverage of exempt income provisions under Income Tax
- Section-wise explanation with conditions and limitations
- Practical insights for tax planning and compliance
- Includes relevant judicial precedents and interpretations
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| Chapters Pages | |||
| 1. Introduction 1 2. Incomes not included in Total Income [Section 11] {Corresponding to Section 10 of the Income Tax Act, 1961} 7 3. Agricultural Income [Schedule II – Table S. No. 1] {Corresponding to Section 10(1) of the Income Tax Act, 1961} 24 4. Any sum received under a life Insurance Policy, (not being a key-man Insurance Policy) [Schedule II – Table S. No. 2] {Corresponding to Section 10(10D) of the Income Tax Act, 1961} 40 5. Payment from Statutory Provident Fund [Schedule II – Table S. No. 3] {Corresponding to Section 10(11) of the Income Tax Act, 1961} 61 6. Accumulated balance paid from a Recognized Provident Fund (RPF) to an Employee [Schedule II – Table S. No. 4] {Corresponding to Section 10(12) of the Income Tax Act, 1961} 68 7. Payment from Sukanya Samriddhi Account [Schedule II – Table S. No. 5] {Corresponding to Section 10(11A) of the Income Tax Act, 1961} 72 8. Payment from the National Pension System Trust to an Employee [Schedule II – Table S. No. 6] {Corresponding to Section 10(12A) of the Income Tax Act, 1961} 77 9. Payment from the Agniveer Corpus Fund to a person enrolled under the Agnipath Scheme, or to his nominee [Schedule II – Table S. No. 7] {Corresponding to Section 10(12C) of the Income Tax Act, 1961} 80 10. Payment from an approved Superannuation Fund [Schedule II – Table S. No. 8] {Corresponding to Section 10(13) of the Income Tax Act, 1961} 84 11. Scholarships granted to meet the Cost of Education [Schedule II – Table S. No. 9] {Corresponding to Section 10(16) of the Income Tax Act, 1961} 94 12. Payment made, whether in cash or in kind for any Award or Reward [Schedule II – Table S. No. 10] {Corresponding to Section 10(17A) of the Income Tax Act, 1961} 105 13. Income by way of Interest, Premium on Redemption or other Payment on Securities, Bonds, Annuity Certificates, etc. [Schedule II – Table S. No. 11] {Corresponding to Section 10(15)(i) of the Income Tax Act, 1961} 118 14. Interest on Gold Deposit Bonds issued under the Gold Deposit Scheme, 1999 notified by Central Government [Schedule II – Table S. No. 12] {Corresponding to Section 10(15)(vi) of the Income Tax Act, 1961} 121 15. Interest on bonds issued by a local authority or by a State Pooled Finance Entity [Schedule II – Table S. No. 13] {Corresponding to Section 10(15)(vii) of the Income Tax Act, 1961} 122 |
| 16. Capital gain on transfer of Unit of the Unit Scheme, 1964 [Schedule II – Table S. No. 14] {Corresponding to Section 10(33) of the Income Tax Act, 1961} 126 17. Any payment from the National Pension System Trust received by an assessee, who is a subscriber to the Unified Pension Scheme [Schedule II – Table S. No. 15] {Corresponding to Section 10(12AA) of the Income Tax Act, 1961} 129 18. Any sum received as “lump sum amount” from the National Pension System Trust by an assessee being a subscriber to the Unified Pension Scheme [Schedule II – Table S. No. 16] {Corresponding to Section 10(12AB) of the Income Tax Act, 1961} 131 19. Any income covered under section 10(15)(iii) or (15)(iv)(c), (15)(iv)(d), (15)(iv)(e), (15)(iv) (f), (15)(iv)(g) or (15)(iv)(h) or (36) of the Income Tax Act, 1961, subject to the conditions as provided therein [Schedule II – Table S. No. 17] {Corresponding to Section 10(15)(iii) or 10(15)(iv)(c), 10(15)(iv)(d), 10(15)(iv)(e), 10(15)(iv)(f), 10(15)(iv)(g) or 10(15)(iv)(h) or 10(36) of the Income Tax Act, 1961} 132 20. Any sum received by a member from Hindu undivided family [Schedule III – Table S. No. 1] {Corresponding to Section 10(2) of the Income Tax Act, 1961} 140 21. Share of profit from a partnership firm – Exempt in the hands of the partners as the firm pays tax on its income [Schedule III – Table S. No. 2] {Corresponding to Section 10(2A) of the Income Tax Act, 1961} 148 22. Any amount received or receivable from the Central Government or a State Government or a local authority by way of compensation on account of any disaster [Schedule III – Table S. No. 3] {Corresponding to Section 10(10BC) of the Income Tax Act, 1961} 159 23. Partial amount paid by National Pension System Trust to an employee or guardian of a member under the Pension Scheme referred to in Section 124 [Schedule III – Table S. No. 4] {Corresponding to Section 10(12B) & 10(12BA) of the Income Tax Act, 1961} 161 24. Daily allowance received by any person by reason of his membership of Parliament or of any State Legislature or of any Commiflee thereof [Schedule III – Table S. No. 5] {Corresponding to Section 10(17)(i) of the Income Tax Act, 1961} 165 25. Any allowance received by reason of his membership of Parliament made under the Salary, Allowances and Pension of Members of Parliament Act, 1954 [Schedule III – Table S. No. 6] {Corresponding to Section 10(17)(ii) of the Income Tax Act, 1961} 167 26. Any constituency allowance received by reason of his membership of any State Legislature under any State Act or rules made thereunder [Schedule III – Table S. No. 7] {Corresponding to Section 10(17)(iii) of the Income Tax Act, 1961} 168 |
| 27. Value of any Travel Concession or assistance for employees and their families [Schedule III – Table S. No. 8] {Corresponding to Section 10(5) of the Income Tax Act, 1961} 169 28. Any allowances or perquisites paid by the Government to its employees for rendering service outside India [Schedule III – Table S. No. 9] {Corresponding to Section 10(7) of the Income Tax Act, 1961} 180 29. Exemption on the income-tax paid by an employer on non-monetary benefits (perquisites) provided to an employee [Schedule III – Table S. No. 10] {Corresponding to Section 10(10CC) of the Income Tax Act, 1961} 182 30. Exemption for House Rent Allowance [Schedule III – Table S. No. 11] {Corresponding to Section 10(13A) of the Income Tax Act, 1961} 188 31. Any special allowance or benefit to the extent to which such expenses are actually incurred for that purpose [Schedule III – Table S. No. 12] {Corresponding to Section 10(14)(i) of the Income Tax Act, 1961} 202 32. Allowances or benefits granted to meet personal expenses in performance of duties of office or employment or to compensate him for increased cost of living [Schedule III – Table S. No. 13] {Corresponding to Section 10(14)(ii) of the Income Tax Act, 1961} 209 33. Pension received by individuals who have been awarded certain gallantry awards [Schedule III – Table S. No. 14] {Corresponding to Section 10(18)(i) of the Income Tax Act, 1961} 224 34. Family pension received by any member of the family of an individual who has been awarded certain gallantry awards [Schedule III – Table S. No. 15] {Corresponding to Section 10(18)(ii) of the Income Tax Act, 1961} 228 35. Receipt of Family Pension on the Death of Members of Armed Forces (including Para-Military Forces) [Schedule III-Table S. No. 16] {Corresponding to Section 10(19) of the Income Tax Act, 1961} 229 36. Income of a minor Child Clubbed under section 99 (1)(c) in the parent’s income (up to a specified limit) [Schedule III – Table S. No. 17] {Corresponding to Section 10(32) of the Income Tax Act, 1961} 232 37. Capital Gains from the compulsory acquisition of Urban Agricultural Land [Schedule III – Table S. No. 18] {Corresponding to Section 10(37) of the Income Tax Act, 1961} 249 38. Income of Scheduled Tribe Members residing in certain areas [Schedule III – Table S. No. 19] Corresponding to Section 10(26) of the Income Tax Act, 1961} 270 39. Income of a “Sikkimese” individual exempt from tax subject to certain conditions [Schedule III – Table S. No. 20] {Corresponding to Section 10(26AAA) of the Income Tax Act, 1961} 282 40. Subsidies received from or through the concerned Board by individuals growing and manufacturing tea, rubber, coffee, cardamom or such other commodity in India [Schedule III – Table S. No. 21] {Corresponding to Section 10(30) & 10(31) of the Income Tax Act, 1961} 292 |
| 41. Income of any local authority (such as municipalities) [Schedule III – Table S. No. 22] {Corresponding to Section 10(20) of the Income Tax Act, 1961} 296 42. Income of approved research associations [Schedule III – Table S. No. 23] {Corresponding to Section 10(21) of the Income Tax Act, 1961} 305 43. Income of Professional associations or institution established in India having as its object the control, supervision, regulation or encouragement of the profession [Schedule III – Table S. No. 24] {Corresponding to Section 10(23A) of the Income Tax Act, 1961} 310 44. Income aflributable to the business of production, sale, or marketing, of khadi or products of village industries [Schedule III – Table S. No. 25] {Corresponding to Section 10(23B) of the Income Tax Act, 1961} 313 45. Income from the Activity of Securitisation Trust [Schedule III – Table S. No. 26] {Corresponding to Section 10(23DA) of the Income Tax Act, 1961} 321 46. Income, by way of contributions received from recognised Stock Exchanges and the Members thereof [Schedule III – Table S. No. 27] {Corresponding to Section 10(23EA) of the Income Tax Act, 1961} 326 47. Income, by way of contributions received from Commodity Exchanges and the members thereof [Schedule III – Table S. No. 28] {Corresponding to Section 10(23EC) of the Income Tax Act, 1961} 332 48. Income by way of contributions received from a depository, of Investor Protection Fund set by a depository [Schedule III – Table S. No. 29] {Corresponding to Section 10(23ED) of the Income Tax Act, 1961} 335 49. Income of Core Sefllement Guarantee Fund (SGF) of the Clearing Corporations [Schedule III – Table S. No. 30] {Corresponding to Section 10(23EE) of the Income Tax Act, 1961} 339 50. Income of Registered Trade Unions [Schedule III – Table S. No. 31] {Corresponding to Section 10(24) of the Income Tax Act, 1961} 342 51. Income received by the trustees of various approved employee benefit funds, ensuring that money set aside for employee welfare [Schedule III – Table S. No. 32] {Corresponding to Section 10(25) of the Income Tax Act, 1961} 348 52. Income of the nature and to the extent, arising from the International Sporting event held in India [Schedule III – Table S. No. 33] {Corresponding to Section 10(39) of the Income Tax Act, 1961} 361 53. Income of a body or authority established by two or more countries (an international body) and notified by the Central Government for this purpose [Schedule III – Table S. No. 34] {Corresponding to Section 10(42) of the Income Tax Act, 1961} 367 54. Any amount received as a loan, either in lump sum or in instalment, in a transaction of reverse mortgage referred to in Section 70(1)(zh) [Schedule III – Table S. No. 35] {Corresponding to Section 10(43) of the Income Tax Act, 1961} 369 |
| 55. Income of certain notified bodies, authorities, boards or Trust or Commissions set up by the Central or State Governments for the benefit of the General Public [Schedule III – Table S. No. 36] {Corresponding to Section 10(46) of the Income Tax Act, 1961} 371 56. Income accruing or arising to the Indian Strategic Petroleum Reserves Ltd., being a wholly owned subsidiary of the Oil Industry Development Board [Schedule III – Table S. No. 37] {Corresponding to Section 10(48C) of the Income Tax Act, 1961} 380 57. Any gratuity computed as per the provisions of section 19(1) – Table S. No. – 3.C to Table S. No. 6.C [Schedule III – Table S. No. 38] {Corresponding to Section 10(10)(i), 10(10)(ii) & 10(10)(iii) of the Income Tax Act, 1961} 383 58. Exempts disability pension (service + disability element) received by armed forces/paramilitary personnel invalided out due to service- related disability, provided they have not retired on superannuation [Schedule III – Table S. No. 38A] [New : Inserted by the Finance Act, 2026, with effect from Tax year 2026-27] 386 59. Interest on compensation awarded by the Motor Accident Claims Tribunal under the Motor Vehicles Act, 1988 to an individual or his legal heir [Schedule III – Table S. No. 38B] [New : Inserted by the Finance Act, 2026, with effect from Tax year 2026-27] 387 60. Income arising from compensation or award for compulsory acquisition of any land under the provisions of the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resefllement Act, 2013 (except section 46) received by an individual or HUF [Schedule III – Table S. No. 38C] [New : Inserted by the Finance Act, 2026, with effect from Tax year 2026-27] 388 61. Any income chargeable under the head “Capital gains” arising from the transfer of specified capital asset [Schedule III – Table S. No. 38D] [New : Inserted by the Finance Act, 2026, with effect from Tax year 2026-27] 390 62. Interest on notified Relief Bonds, Interest received from Government on deposits in notified scheme out of moneys due on account of retirement, Notional annual value of any one palace occupied by former Ruler & Income of a subsidiary company by way of grant [Schedule III – Table S. No. 39] {Corresponding to Section 10(15)(iic) & 10(15)(iv)(i) or 10(19A) or 10(40) of the Income Tax Act, 1961} 392 63. Interest earned by a Non-Resident Indian (NRI) on money deposited in their Non-Resident (External) (NRE) account [Schedule IV – Table S. No. 1] {Corresponding to Section 10(4)(ii) of the Income Tax Act, 1961} 398 |
| 64. Remuneration received by certain Foreign Government officials and their staff who are not citizens of India for their Services in the Country [Schedule IV – Table S. No. 2] {Corresponding to Section 10(6)(ii) of the Income Tax Act, 1961} 404 65. Remuneration received as an employee of a Foreign Enterprise for services rendered by him during his stay in India [Schedule IV – Table S. No. 3] {Corresponding to Section 10(6)(vi) of the Income Tax Act, 1961} 406 66. Salary of a Foreign Employee and non-resident for services rendered in connection with his Employment on a Foreign Ship [Schedule IV – Table S. No. 4] {Corresponding to Section 10(6)(viii) of the Income Tax Act, 1961} 413 67. Remuneration received by employees of foreign Governments in connection with their training in India in certain cases [Schedule IV – Table S. No. 5] {Corresponding to Section 10(6)(xi) of the Income Tax Act, 1961} 419 68. Income arising by way of royalty or fees for Technical Services rendered in or outside India by a notified Foreign Company [Schedule IV – Table S. No. 6] {Corresponding to Section 10(6C) of the Income Tax Act, 1961} 421 69. Income received by a non-resident, not being a company, or a Foreign company in the form of royalty or fees for technical services rendered to the National Technical Research Organisation (NTRO) [Schedule IV – Table S. No. 7] {Corresponding to Section 10(6D) of the Income Tax Act, 1961} 426 70. Interest received in India on a deposit made on or after 01.04.2005 in an Offshore Banking Unit by Non-resident or a person who is not ordinarily resident in India [Schedule IV – Table S. No. 8] {Corresponding to Section 10(15)(viii) of the Income Tax Act, 1961} 427 71. Foreign company’s income from lease rentals of cruise ships operating in India [Schedule IV – Table S. No. 9] {Corresponding to Section 10(15B) of the Income Tax Act, 1961} 429 72. Income derived in India by way of interest, dividends or Capital gains from investments made by the European Economic Community [Schedule IV – Table S. No. 10] {Corresponding to Section 10(23BBB) of the Income Tax Act, 1961} 433 73. Income received in India in Indian currency by a foreign company on account of sale of crude oil or any other goods or rendering of services [Schedule IV – Table S. No. 11] {Corresponding to Section 10(48) of the Income Tax Act, 1961} 435 74. Income of a foreign company accruing or arising from the storage and sale of crude oil in India, under an agreement with the Central Government [Schedule IV – Table S. No. 12] {Corresponding to Section 10(48A) of the Income Tax Act, 1961} 440 75. Income of Foreign Company from sale of leftover stock of crude oil from strategic reserves at the expiry of agreement or arrangement [Schedule IV – Table S. No. 13] {Corresponding to Section 10(48B) of the Income Tax Act, 1961} 443 |
| 76. Exempt specific income earned by a non-resident foreign company arising from the supply of capital goods/ equipment/tooling to an Indian contract manufacturer in a Custom Bonded Area [Schedule IV – Table 13A of the Income Tax Act, 2025] [New : Inserted by the Finance Act, 2026, with effect from Tax year 2026-27] 446 77. Five year tax exemption on overseas income for non-resident professionals visiting India for rendering services under Government-notified schemes [Schedule IV – Table S. No. 13B of the Income Tax Act, 2025] [New : Inserted by the Finance Act, 2026, with effect from Tax year 2026-27] 449 78. Exemption to Foreign company on any income accruing or arising in India or deemed to accrue or arise in India by way of procuring Data Centre Services from a Specified Data Centre [Schedule IV – Table S. No. 13C of the Income Tax Act, 2025] [New : Inserted by the Finance Act, 2026, with effect from Tax year 2026-27] 452 79. Income falling under section 10(6A), 10(6B), 10(6BB), 10(15A), 10(15)(iiia), 10(15)(iiib), 10(15)(iiic) or 10(15)(iv)(a), 10(15)(iv)(b) or 10(15)(iv)(fa) of the Income Tax Act, 1961 [Schedule IV – Table S. No. 14] {Corresponding to Sections 10(6A), 10(6B), 10(6BB), 10(15A), 10(15)(iiia), 10(15)(iiib), 10(15)(iiic) or 10(15)(iv)(a), 10(15)(iv)(b) or 10(15)(iv)(fa) of the Income Tax Act, 1961} 457 80. Income of an Investment Fund other than the income chargeable under the head “Profits and Gains of Business or Profession” [Schedule V – Table S. No. 1] {Corresponding to Section 10(23FBA) of the Income Tax Act, 1961} 471 81. Income of unit holders (investors) in a Qualified Investment Fund [Schedule V – Table S. No. 2] {Corresponding to Section 10(23FBB) of the Income Tax Act, 1961} 478 82. Specific income received by business trusts (like REITs and InvITs) [Schedule V – Table S. No. 3] {Corresponding to Section 10(23FC) of the Income Tax Act, 1961} 482 83. Income derived by a business trust (REIT) from renting, leasing, or lefling out directly owned real estate assets [Schedule V – Table S. No. 4] {Corresponding to Section 10(23FCA) of the Income Tax Act, 1961} 485 84. Income distributed by a business trust (such as a Real Estate Investment Trust (REIT) or an Infrastructure Investment Trust (InvIT)) to its unit holders [Schedule V – Table S. No. 5] {Corresponding to Section 10(23FD) of the Income Tax Act, 1961} 488 85. Income of a venture capital company or venture capital fund arising from investment in a venture capital undertaking [Schedule V – Table S. No. 6] {Corresponding to Section 10(23FB) of the Income Tax Act, 1961} 491 |
| 86. Income of a specified person in the nature of dividend, interest or long-term capital gains arising from an investment made by it in India, whether in the form of debt or share capital or unit [Schedule V – Table S. No. 7] {Corresponding to Section 10(23FE) of the Income Tax Act, 1961} 500 87. Income falling under section 10(23F) and (23FA) of the Income-tax Act, 1961, subject to the conditions as specified therein [Schedule V – Table S. No. 8] {Corresponding to Section 10(23F) & 10(23FA) of the Income Tax Act, 1961} 511 88. Specific types of income received by a “specified fund” located in an International Financial Services Centre (IFSC) in India [Schedule VI – Table S. No. 1 to 4] {Corresponding to Section 10(4D) of the Income Tax Act, 1961} 521 89. Income accrued or arisen to, or received as a result of – (a) transfer of non-deliverable forward contracts or offshore derivative instruments or over-the-counter derivatives; or (b) distribution of income on offshore derivative instruments or over-the-counter derivatives [Schedule VI – Table S. No. 5] {Corresponding to Section 10(4E) of the Income Tax Act, 1961} 532 90. Income earned by a non-resident by way of royalty or interest on account of lease of an aircraft or a ship to a unit in International Financial Services Centre (IFSC) [Schedule VI – Table S. No. 6] {Corresponding to Section 10(4F) of the Income Tax Act, 1961} 538 91. Income earned by non-residents in respect of income arising from portfolio securities or financial products or funds managed through International Financial Services Centre (IFSC) or from specified activity carried out by the specified person [Schedule VI – Table S. No. 7] {Corresponding to Section 10(4G) of the Income Tax Act, 1961} 541 92. Capital gains tax for non-residents and units of an International Financial Services Centre (IFSC) engaged in the business of leasing aircraft or ships [Schedule VI – Table S. No. 8] {Corresponding to Section 10(4H) of the Income Tax Act, 1961} 549 93. Income of unit-holders of a specified fund [Schedule VI – Table S. No. 9] {Corresponding to Section 10(23FBC) of the Income Tax Act, 1961} 552 94. Capital gains arising or received by a non-resident or a specified fund on account of transfer of share of a company resident in India by the resultant fund or specified fund to the extent aflributable to units held by specified non-residents [Schedule VI – Table S. No. 10] {Corresponding to Section 10(23FF) of the Income Tax Act, 1961} 555 95. Dividend income earned by a unit of an International Financial Services Centre (IFSC) primarily engaged in the business of leasing an aircraft or a ship [Schedule VI – Table S. No. 11] {Corresponding to Section 10(34B) of the Income Tax Act, 1961} 558 |
| 96. Interest paid to a Non-resident by a unit situated in IFSC regarding funds borrowed by it on or after 01.09.2019 [Schedule VI – Table S. No. 12] {Corresponding to Section 10(15)(ix) of the Income Tax Act, 1961} 561 97. Income received on behalf of any regimental fund or non-public fund established by the armed forces for the welfare of the past and present members of the armed forces or their dependants [Schedule VII – Table S. No. 1] {Corresponding to Section 10(23AA) of the Income Tax Act, 1961} 563 98. Income of approved fund established for notified purposes for welfare of member employees or their dependents [Schedule VII – Table S. No. 2] {Corresponding to Section 10(23AAA) of the Income Tax Act, 1961} 567 99. Income of fund set up by LIC or any other insurers on or after 01.08.1996 under an approved Pension Scheme [Schedule VII – Table S. No. 3] {Corresponding to Section 10(23AAB) of the Income Tax Act, 1961} 570 100. Income of an authority established in a State by or under a State or Provincial Act for the development of Khadi or village industries in the State [Schedule VII – Table S. No. 4] {Corresponding to Section 10(23BB) of the Income Tax Act, 1961} 574 101. Income of a Statutory body or authority established, constituted or appointed under any Central, State or Provincial Act for administration of public religious or charitable trusts or endowments or registered societies [Schedule VII – Table S. No. 5] {Corresponding to Section 10(23BBA) of the Income Tax Act, 1961} 576 102. Income of SAARC fund for Regional Projects set up by Colombo Declaration issued on 21.12.1991 [Schedule VII – Table S. No. 6] {Corresponding to Section 10(23BBC) of the Income Tax Act, 1961} 585 103. Income of Insurance Regulatory and Development Authority (IRDA) [Schedule VII – Table S. No. 7] {Corresponding to Section 10(23BBE) of the Income Tax Act, 1961} 587 104. Income of Central Electricity Regulatory Commission [Schedule VII – Table S. No. 8] {Corresponding to Section 10(23BBG) of the Income Tax Act, 1961} 588 105. Income of Prasar Bharati (Broadcasting Corporation of India) [Schedule VII – Table S. No. 9] {Corresponding to Section 10(23BBH) of the Income Tax Act, 1961} 589 106. Income of certain National Funds [Schedule VII – Table S. Nos. 10, 11,12,13,14,15 & 16] {Corresponding to Section 10(23C)(i), 10(23C)(ii), 10(23C)(iii), 10(23C)(iiia) 10(23C)(iiiaa) 10(23C)(iiiaaa) & 10(23C)(iiiaaaa) of the Income Tax Act, 1961} 590 |
| 107. Income of any University or other educational institution wholly or substantially financed by the Government [Schedule VII – Table S. No. 17] {Corresponding to Section 10(23C)(iiiab) of the Income Tax Act, 1961} 592 108. Income of any hospital or other institution which is wholly or substantially financed by the Government [Schedule VII – Table S. No. 18] {Corresponding to Section 10(23C)(iiiac) of the Income Tax Act, 1961} 612 109. Income received by any University or other educational institution & any Hospital or Hospitals or Institution or Institutions if Annual Receipts do not exceed Rs. 5 crore [Schedule VII – Table S. No. 19] {Corresponding to Section 10(23C)(iiiad) & 10(23C)(iiiae) of the Income Tax Act, 1961} 618 110. Income of Mutual Funds registered under the Securities and Exchange Board of India Act, 1992 & set up by a public sector bank or a public financial institution or authorised by the Reserve Bank of India [Schedule VII – Table S. No. 20 & 21] {Corresponding to Section 10(23D)(i) & 10(23D)(ii) of the Income Tax Act, 1961} 626 111. Income received by trustees or board of trustees of approved Employee benefit funds includes Recognized Provident Funds, Approved Superannuation Funds, Approved Gratuity Funds, etc. [Schedule VII – Table S. No. 22, 23, 24, 25, and 26] {Corresponding to Section 10(25)(ii), 10(25)(iii), 10(25)(iv), 10(25)(v) & 10(25)(v)(b) of the Income Tax Act, 1961} 632 112. Income received by the trustees on behalf of the Employees’ State Insurance Fund [Schedule VII – Table S. No. 27] {Corresponding to Section 10(25A) of the Income Tax Act, 1961} 640 113. Income of an Agricultural Produce Marketing Commiflee or Board [Schedule VII – Table S. No. 28] {Corresponding to Section 10(26AAB) of the Income Tax Act, 1961} 641 114. Income of statutory bodies, etc., for promoting interests of members of Scheduled Castes/Tribes or notified Backward Classes [Schedule VII – Table S. No. 29] {Corresponding to Section 10(26B) of the Income Tax Act, 1961} 646 115. Income of a corporation established by the Central Government or any State Government for promoting the interests of the members of a minority community [Schedule VII – Table S. No. 30] {Corresponding to Section 10(26BB) of the Income Tax Act, 1961} 652 116. Income of a Corporation established by a Central Act or State Act or Provincial Act for the welfare and economic upliftment of Ex-Servicemen [Schedule VII – Table S. No. 31] {Corresponding to Section 10(26BBB) of the Income Tax Act, 1961} 654 117. Income of co-operative societies promoting the interests of the members of the Scheduled Castes or the Scheduled Tribes [Schedule VII – Table S. No. 32] {Corresponding to Section 10(27) of the Income Tax Act, 1961} 658 |
| 118. Income of certain Boards (i.e. Coffee Board, Rubber Board, Tea Board, Tobacco Board, Spices Board & Coir Board [Schedule VII – Table S. No. 33, 34, 35, 36, 39 and 40] {Corresponding to Sections 10(29A)(a), 10(29A)(b), 10(29A)(c), 10(29A)(d) , 10(29A)(g) and 10(29A)(h) of the Income Tax Act, 1961} 660 119. Income accruing or arising to Marine Products Export Development Authority [Schedule VII – Table S. No. 37] {Corresponding to Section 10(29A)(e) of the Income Tax Act, 1961} 662 120. Income of Agricultural and Processed Food Products Export Development Authority [Schedule VII – Table S. No. 38] {Corresponding to Section 10(29A)(f) of the Income Tax Act, 1961} 663 121. Income of New Pension System Trust established on 27.02.2008 under the provisions of the Indian Trusts Act, 1882 [Schedule VII – Table S. No. 41] {Corresponding to Section 10(44) of the Income Tax Act, 1961} 664 122. Income of notified board/authority/body/trust of commission [Schedule VII – Table S. No. 42] {Corresponding to Section 10(46A) of the Income Tax Act, 1961} 665 123. Income of National Credit Guarantee Trustee Company Limited [Schedule VII – Table S. No. 43] {Corresponding to Section 10(46B)(i) of the Income Tax Act, 1961} 678 124. Income of Credit guarantee fund established and wholly financed by the Central Government and managed by the National Credit Guarantee Trustee Company Limited [Schedule VII – Table S. No. 44] {Corresponding to Section 10(46B)(ii) of the Income Tax Act, 1961} 679 125. Exemption to New Development Bank [Schedule VII – Table S. No. 49] [New : Inserted by the Finance Act, 2026, with effect from Tax year 2026-27] 680 126. Income of Credit Guarantee Fund Trust for Micro and Small Enterprises [Schedule VII – Table S. No. 45] {Corresponding to Section 10(46B)(iii) of the Income Tax Act, 1961} 681 127. Income of a notified infrastructure debt fund set-up in accordance with prescribed guidelines [Schedule VII – Table S. No. 46] {Corresponding to Section 10(47) of the Income Tax Act, 1961} 683 128. Income of an institution established for financing infrastructure and development [Schedule VII – Table S. No. 47] {Corresponding to Section 10(48D) of the Income Tax Act, 1961} 689 129. Income accruing or arising to a developmental financing institution licensed by the Reserve Bank of India [Schedule VII – Table S. No. 48] {Corresponding to Section 10(48E) of the Income Tax Act, 1961} 690 130. Incomes not to be included in total income of political parties and electoral trusts [Section 12] {Corresponding to Sections 13A & 13B of the Income Tax Act, 1961} 691 |
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