Sch - 07 - THE SEVENTH SCHEDULE - Persons exempt - Direct Taxes Code Bill, 2009

THE SEVENTH SCHEDULE S.No. Persons exempt (1) (2) 1. Any office, or establishment, of the Central Government or the Government of a State; 2. The Coffee Board. 3. The Rubber Board. 4. The Tea Board. 5. The Tobacco Board. 6. The Marine Products Export Development Authority. 7. The Agricultural and Processed Food Products Export Development Authority. 8. The Spices Board. 9. The Prime Minister's National Relief Fund. 10. The Prime Minister's Fund (Promotion of Folk Art). 11. The Prime Minister's Aid to Students Fund. 12. The National Foundation for Communal Harmony. 13. The Secretariat of the Asian Organisation of the Supreme Audit Institutions registered as "ASOSAI-SECRETARIAT" under the Societies Registration Act, 1860 (21 of 1860) upto the financial year ending on the 31st day of March, 2008. 14. The Insurance Regulatory and Development Authority. 15. A Mutual Fund. 16. A venture capital company. 17. A venture capital fund. 18. New Pension System Trust. 19. Any approved provident fund. 20. Any approved superannuation fund. 21. Any approved gratuity fund. 22. The Deposit-linked Insurance Fund established under,- (a) the Coal Mines Provident Funds and Miscellaneous Provisions Act, 1948; (b) the Employees' Provident Funds and Miscellaneous Provisions Act, 1952; 23. The Employees' State Insurance Fund set up under the Employees' State Insurance Act, 1948. 24. Any electoral trust, if- (a) ninety five percent of the aggregate of all donations received by it during the financial year and the surplus, if any, brought forward from any preceeding financial year is distributed to political parties; and (b) such electoral trust functions in accordance with the rules made by the Central Government. 25. A corporation established by a Central, State or Provincial Act or of any other body, institution or association (being a body, institution or association wholly financed by Government) where such corporation or other body or institution or association has been established or formed for promoting the interests of the members of the Scheduled Castes or the Scheduled Tribes or backward classes or of any two or all of them. 26. Any body, institution or association wholly financed by Government and formed for promoting the interest of the members of the Scheduled Castes or the Scheduled Tribes or Backward classes. 27. Any corporation established by the Central or State Government for promoting the interests of the members of a minority community. 28. Any statutory corporation established for the welfare and economic upliftment of ex-servicemen being the citizens of India. 29. Any co-operative society formed for promoting the interests of the members of the Scheduled Castes or Scheduled Tribes if,- (a) the membership of the co-operative society consists of only other co-operative societies formed for similar purposes; and (b) the finances of the society are provided by the Government and such other societies. 30. Panchayat as referred to in clause (d) of article 243 of the Constitution 31. Municipality as referred to in clause (e) of article 243P of the Constitution 32. Municipal Committee and District Board, legally entitled to, or entrusted by the Government with, the control or management of a Municipal or local fund 33. Cantonment Board as defined in section 3 of the Cantonments Act, 1924; 34. 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 dependants. 35. Any fund set up, on or after 1st day of August, 1996, by an insurer under a pension scheme,- (a) to which contribution is made by any person for the purpose of receiving pension from such fund; and (b) which is approved by the Controller of Insurance or the Insurance Regulatory and Development Authority. 36. An authority (whether known as the Khadi and Village Industries Board or by any other name) established in a State by or under a State or Provincial Act for the development of khadi or village industries in the State. 37. Any body or authority (whether or not a body corporate or corporation sole) established, constituted or appointed by or under any Central, State or Provincial Act which provides for the administration of any one or more of the following, (a) public religious or charitable trusts or (b) endowments (including maths, temples, gurdwaras, wakfs, churches, synagogues, agiaries or other places of public religious worship); or (c) societies for religious or charitable purposes registered as such under the Societies Registration Act, 1860 (21 of 1860), or any other law for the time being in force. 38. Any association, authority, body, institution or trust registered under any law of the Central, State or Provincial Government for the regulation of religious endowments. 39. The SAARC Fund for Regional Projects set up by Colombo Declaration. 40. Any income of the nature, and to the extent, notified by the Central Government, arising to a body or authority which - (a) has been established or constituted or appointed under a treaty or an agreement entered into by the Central Government with two or more countries or a convention signed by the Central Government. (b) is established or constituted or appointed not for the purposes of profit; (c) is notified by the Central Government in the Official Gazette for the purposes of this clause 41. The Central Electricity Regulatory Commission constituted under sub-section (1) of section 76 of the Electricity Act, 2003.