Income Specific exemption under section 10 - Income Tax - Ready Reckoner - Income Tax

Income Specific exemption under section 10 Section Particulars (For conditions / details see the relevant clauses) Limit of Exemption (specified incomes) 10(1) Agriculture Income Fully Exempt 10(2A) Share of Income from the Firm Fully Exempt 10(8) An individual who is assigned to duties in India in connection with any co-operative technical assistance programmes and projects in accordance with agreement entered by CG and Government of Foreign State. [Nothing contained in this section shall apply after 1st day of April, 2023] Fully Exempt 10(10BB) Payments made under the Bhopal Gas Leak Disaster (Processing of Claims) Act, 1985 or scheme Fully Exempt 10(10BC) Compensation received on account of any disaster Exempt to the extent of amount received. 10(10D) Sum received from Life Insurance Policy Exempt to the extent of amount received. 10(11) Amount received on retirement from SPF / Maturity from PPF Exempt to the extent of amount received. 10(12) Amount received on retirement from RPF Exempt to the extent provided in Rule 8 of Part A of the Fourth Schedule 10(12A) Amount received by an assessee from National Pension System Trust on closure of his account or on his opting out of the pension scheme referred to in section 80CCD 60% of the total amount payable to him at the time of such closure or his opting out of the scheme 10(12B) Amount received by an employee from National Pension System Trust, under the pension scheme referred to in section 80CCD, on partial withdrawal made out of his account 25% of the amount of contributions made by him. 10(13) Payment from Superannuation Fund Exempt to the extent to which such payment does exceed the contributions made prior to the commencement of this Act. 10(15)(i) Interest on Securities issued by C.Govt. and deposits as notified Exempt subjection to conditions 10(15)(iib) Interest on Capital Investment Bonds - as notified by the C. Govt. before 1.6.2002 In case of Individuals and HUF Fully Exempt 10(15)(iic) Interest on Relief Bonds as Notified - In case of Individuals and HUF Fully Exempt 10(15)(iid) Interest on notified bonds (before 1.6.2002) arising to Non-Residents Fully Exempt 10(15)(iii) Interest on securities held by the Issue Department of the Central Bank of Ceylon Fully Exempt 10(15)(iiia) Interest payable to any bank incorporated in a country outside India and authorised to perform central banking functions in that country on any deposits made by it with any Scheduled Bank Fully Exempt 10(15)(iiib) Interest payable to the Nordic Investment Bank Fully Exempt as per MOU 10(15)(iiic) Interest payable to the European Investment Bank Fully Exempt as per Agreement 10(15)(iv)(fa) Interest payable by a Scheduled bank to non-resident on deposits in foreign currency Fully Exempt if approved by RBI 10(15)(iv)(h) Interest payable by PSU in respect of bonds and debentures as notified Fully Exempt 10(15)(iv)(i) Interest on deposits made by the Employees of Govt. out of retirement benefits in accordance with the scheme Fully Exempt, as per the scheme 10(15)(v) Interest on securities held by the Welfare Commissioner, Bhopal Gas Victims, Bhopal, and deposits for the benefit of the victims of the Bhopal gas leak disaster Fully exempt subject to conditions 10(15)(vi) Interest on Gold Deposit Bonds (Scheme 1999) Interest on deposit certificates issued under the Gold Monetisation Scheme, 2015 Fully Exempt 10(15)(vii) Interest on bonds - issued by a local authority or by a State Pooled Finance Entity Interest on specified bonds as notified Fully Exempt 10(16) Scholarships granted to meet the cost of education; Fully Exempt 10(17) Daily allowance Constituency allowance of M.P./M.L.A. Fully Exempt 10(17A) Award Money (cash or kind) as approved or notified in this behalf Fully Exempt 10(18) Pension received by the winners of Vir Chakra etc. Fully Exempt 10(19) read with Rule 2BBA Family Pension received by family members of Armed Force Exempt to the extent of amount received. 10(23C) Income received by any person on behalf of specified national funds approved public charitable institutions, education Institute and Hospital Fully Exempt 10(23F) Dividends or long-term capital gains of a venture capital fund or a venture capital company Fully Exempt 10(23FD) Any distributed income, referred to in section 115UA, received by a unit holder from the business trust Exempt other than Specified Amount 10(32) Income of Minor Child clubbed under section 64(1A) Actual income of a minor child or 1,500 whichever is less. 10(33) Capital Gain on transfer of a unit of the Unit Scheme, 1964 Fully Exempt 10(34) Any income by way of dividends referred u/s 115-O [ excluding u/s 115BBDA) ] Exempt to the extent of amount received. 10(34A) Income to a shareholder on buyback of shares of unlisted company This clause not apply with respect to any buy back of shares by a company on or after the 1st day of October, 2024. [ Inserted vide Finance (No. 2) Act, 2024 ] Exempt to the extent of amount received. 10(35) Income from units of UTI and other mutual funds Fully Exempt 10(35A) Income received by any person being an investor of the Securitization Trust from such a trust, by way of distributed income referred to in section 115TA (before 1.6.2016) Fully Exempt 10(37) Capital Gain on compulsory acquisition of urban Agricultural Land Fully Exempt 10(37A) Capital gain of transfer of specified assets (as held on 2.6.2016) under Andhra Pradesh Land Pooling Scheme Fully Exempt 10(38) Long Term Capital Gain on transfer of shares and securities covered under Security Transaction Tax (STT) LTCG on transfer of equity share in a company or a unit of an equity oriented fund or a unit of a business trust Fully Exempt 10(39) Income from any international sporting event held in India, as Notified Fully Exempt 10(40) Income received as grant by a subsidiary company (business of generation or transmission or distribution of power) as notified u/s 80-IA(4)(v)(a) Fully Exempt 10(43) Amount of loan received under reverse mortgage u/s 47(xvi) Fully Exempt 10(44) Any income received by any person for, or on behalf of, the New Pension System Trust Fully Exempt 10(50) Specified services on which equalisation levy is chareable under Chapter VIII of Finance Act, 2016 Fully Exempt