Exempt Income of Non-Residents under section 10 - Income Tax - Ready Reckoner - Income Tax

Exempt Income of Non-Residents Section Particulars (For conditions / details see the relevant clauses) Limit of Exemption (specified income) 10(4)(ii) Interest on moneys standing to his credit in a Non-Resident (External) Account in any bank in India Fully Exempt 10(4B) Any income from interest on such savings certificates as notified before 1.6.2002 in case of citizen of India or a person of Indian origin Fully Exempt 10(4C) Any income by way of interest payable to a non-resident, not being a company, or to a foreign company, by any Indian company or business trust in respect of monies borrowed from a source outside India by way of issue of rupee denominated bond, as referred to in section 194LC(2)(ia), during the period beginning from the 17th day of September, 2018 and ending on the 31st day of March, 2019. Fully exempt 10(4D) Any income accrued or arisen to, or received by a specified fund as a result of transfer of capital asset referred to in section 47(viiab), on a recognised stock exchange located in any International Financial Services Centre and where the consideration for such transaction is paid or payable in convertible foreign exchange, to the extent such income accrued or arisen to, or is received in respect of units held by a non-resident. Fully Exempt 10(4E) Any income accrued or arisen to, or received by, a non-resident as a result of transfer of non-deliverable forward contracts entered into with an offshore banking unit of an IFSC as referred to in section 80LA(1A), which fulfills prescribed conditions Fully Exempt 10(4F) Any income of a non-resident by way of royalty or interest, on account of lease of an aircraft or a ship in a previous year, paid by a unit of an International Financial Services Centre as referred to in section 80LA(1A), if the unit has commenced its operations on or before the 31st day of March, 2024. Fully Exempt 10(6)(ii) Remuneration received by Foreign Diplomat Fully Exempt 10(6)(vi) Employees of foreign enterprises where such enterprises is not engaged in any business and his stay is not exceeding 90 days in India and employers is not claiming any deduction for such amount Fully exempt 10(6)(viii) Salary received for employment on a Foreign Ship stay should not exceed 90 days Fully Exempt 10(6)(xi) Salary received by employee of a foreign Govt. deputed in India - in connection with his training in any establishment or office of, or in any undertaking as specified Fully exempt 10(6A) Tax paid in respect of Royalties or Fees for technical services out of Specified contract between 1.4.1976 and 31.5.2002 Fully exempt 10(6B) Tax paid by Govt or Indian concern as per the contract before 1.6.2002 Fully Exempt 10(6BB) Tax paid under an agreement between 1.4.1997 to 31.3.1999 and after 31.3.2007 of acquiring an aircraft or an aircraft engine (other than payment for providing spares, facilities or services in connection with the operation of leased aircraft) on lease Fully Exempt 10(6C) Royalty Income or fees for technical services under an agreement with CG of specified foreign companies related to projects connected with security of India Fully Exempt 10(6D) Income arising to a NR other than a company or a foreign company by way of royalty from or fees for technical services rendered in or outside India to the National Technical Research Organisation Fully Exempt 10(8) An individual who is assigned to duties in India in connection with any co-operative technical assistance programmes and projects Full Exempt 10(8A) Any remuneration or fee received by consultant, out of the funds made available to an international organization under a technical assistance grant agreement Fully Exempt 10(8B) Sub-consultant of consultant u/s 10(8A) Fully Exempt 10(9) Income of any member of the family of any such individual as is referred u/s 10(8), 10(8A) 10(8B) Fully Exempt 10(48) Any income received in India in Indian currency by a foreign company on account of sale of crude oil, any other goods or rendering of services in India as notified Foreign Company Fully Exempt 10(48A) Any income accruing or arising on account of storage of crude oil in a facility in India and sale of crude oil therefrom in India Foreign Company Fully Exempt 10(48B) Any income on leftover stock of cured oil (as referred in 10(48A) above) Foreign Company Fully Exempt