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TMI BlogIncome not included in the total incomeX X X X Extracts X X X X X X X X Extracts X X X X ..... y in this behalf, by way of royalty or fees for technical services received in pursuance of an agreement entered into with the Government for providing services in or outside India in projects connected with security of India. 6. Any income of the European Economic Community, (established by the treaty of Rome of 25th March, 1957) derived in India by way of interest, dividends or capital gains from investments made out of its funds under such scheme as the Central Government may, by notification specify in this behalf. 7. Any amount of interest payable— (a) on securities held by the Issue Department of the Central Bank of Ceylon constituted under the Ceylon Monetary Law Act, 1949; (b) to a bank incorporated in a country outside India and authorised to perform central banking functions in that country, on deposits by it with any scheduled bank, with the approval of the Reserve Bank of India; (c) to the Nordic Investment Bank being a multilateral financial institution constituted by the Governments of Denmark, Finland, Iceland, Norway and Sweden, on a loan advanced by it to a project approved by the Central Government in terms of the Memorandum of Understanding entered into by the Ce ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on his retirement at or after a specified age or on his becoming incapacitated prior to such retirement; or (b) on the death of a beneficiary. 14. The amount of remuneration received by an individual who is not a citizen of India, if the following conditions are fulfilled, namely:— (a) such individual is an official, by whatever name called, of an embassy, high commission, legation, commission, consulate or the trade representation of a foreign State, or as a member of the staff of any of these officials, for service in such capacity; (b) the remuneration of the corresponding officials or, as the case may be, members of the staff, if any, of the Government resident for similar purposes in the country concerned enjoys a similar exemption in that country; and (c) the members of the staff are subjects of the country represented and are not engaged in any business or profession or employment in India otherwise than as members of such staff. 15. The amount received by an individual who is not a citizen of India, by way of remuneration as an employee of a foreign enterprise for services rendered by him during his stay in India, if the following conditions are fulfilled, namely:— (a) the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ied by the Central Government. 22. Any income of a political party which is computed under the heads "Income from house property" or "Capital gains" or "Income from residuary sources" or any income by way of voluntary contributions received by it from any person, if— (a) the political party keeps and maintains such books of account and other documents as would enable the Assessing Officer to properly deduce its income therefrom; (b) the political party keeps and maintains a record of such contributions in excess of twenty thousand rupees, along with the name and address of the contributors; (c) the accounts of such political party are audited by an accountant; and (d) the treasurer of such political party or any other person authorised by that political party in this behalf submits a report under sub-section (3) of section 29C of the Representation of the People Act, 1951 for the financial year. 23. Any amount of interest on deposits in a Non-Resident (External) Account in any bank in India accruing to an individual, if he— (a) is outside India in terms of clause (w) of section 2 of the Foreign Exchange Management Act, 1999; or (b) has been permitted by the Reserve Bank of India to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ount, if any, allowed as a deduction in any financial year on account of any loss or damage caused by such disaster, to him or his legal heir. 31. Any amount of interest on bonds— (a) issued by a local authority or by a State Pooled Finance Entity or a public sector company; and (b) specified by the Central Government by notification. 32. Any amount of capital gain arising on account of the transfer of— (a) agricultural land situated in a rural area; (b) any personal effects; or (c) Gold Deposit Bonds issued under the Gold Deposit Scheme, 1999 notified by the Central Government. 33. Gross rent in respect of any one palace in the occupation of a Ruler, if the annual value of the palace was exempt from income-tax before the commencement of the Constitution (Twenty-sixth Amendment) Act, 1971, by virtue of the provisions of the Merged States (Taxation Concessions) Order, 1949, or the Part B States (Taxation Concessions) Order, 1950, or, as the case may be, the Jammu and Kashmir (Taxation Concessions) Order, 1958. 34. Any income and amount thereof notified by the Central Government accruing to any person from any international sporting event held in India, if such event— (a) is approved ..... X X X X Extracts X X X X X X X X Extracts X X X X
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