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Exempted Incomes U/S 10: B.Satyanarayana Rao Asso - Prof in Commerce ST - Joseph'S Degree & PG College King Koti, Hyderabad

The document lists various types of incomes that are exempted from tax under Section 10 of the Indian Income Tax Act. It includes incomes such as agricultural income, income from Hindu Undivided Families (HUFs), shares of income from firms, travel concessions for employees, gratuity, commuted pension values, educational scholarships, allowances for members of parliament and state legislatures, awards from government bodies, pensions for armed forces members, income from palaces of former rulers, incomes of local authorities and certain boards, incomes of religious and charitable institutions, insurance regulatory bodies, international sporting events, trade unions, provident funds, corporations for scheduled castes and tribes, units of the Unit Trust of India, long term capital gains on

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Kumar Rupesh
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177 views25 pages

Exempted Incomes U/S 10: B.Satyanarayana Rao Asso - Prof in Commerce ST - Joseph'S Degree & PG College King Koti, Hyderabad

The document lists various types of incomes that are exempted from tax under Section 10 of the Indian Income Tax Act. It includes incomes such as agricultural income, income from Hindu Undivided Families (HUFs), shares of income from firms, travel concessions for employees, gratuity, commuted pension values, educational scholarships, allowances for members of parliament and state legislatures, awards from government bodies, pensions for armed forces members, income from palaces of former rulers, incomes of local authorities and certain boards, incomes of religious and charitable institutions, insurance regulatory bodies, international sporting events, trade unions, provident funds, corporations for scheduled castes and tribes, units of the Unit Trust of India, long term capital gains on

Uploaded by

Kumar Rupesh
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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EXEMPTED INCOMES U/S 10

B.SATYANARAYANA RAO ASSO.PROF IN COMMERCE ST.JOSEPHS DEGREE & PG COLLEGE KING KOTI, HYDERABAD

Agricultural income-Fully exempted U/S 10(1).


.

Share of income from HUF-FuIly exempted u/s 10(2).

3.Share of income from firm assessed as firm- Fully exempted u/s 10(2A).

6.Travel Concession to an Indian citizen employeeExempted up to limits laid down u/s 10(5).

Gratuity-exempted u/s 10(10) as per limits.

Commuted value of pension-Fully exempted u/s 10(I0A) as per conditions given.

. Educational Scholarships-Fully exempted u/s 10(16).

Allowances received by MP/MLA/MLC fully Exempted u/s 10(17).

Any award instituted or notified by State or Central Govt.-Fully exempted u/s 10(17 A).
A).

Any pension received by winners of Paramvir Chakra, Mahavir Chakra, or Vir Chakra, and

family pension received by widows or children or nominated heirs of a deceased member of the armed forces (including para military

Income from one palace self occupied by former rulers shall be fully exempted u/s 10(19A).

Income of a local authorityexempted as per conditions given u/s 10(20

.Income

of State level Khadi and Village Industries Boardsexempted as per conditions given u/s IO(23BB),

Income of certain authorities set up to manage religious and charitable institutions exempted as per conditions given u/s 10(23BBA)

Any income of the Insurance Regulatory Authority of India shall be fully exempted u/s IO(23BBE).

Income from International sporting event.

Income of registered trade unionsexempted as per conditions given

Income of Provident Funds or Superannuation Funds-exempted as per conditions given u/s 10(25).

Income of a corporation set up for promoting the interests of Scheduled castes, tribes and backward classesexempted as per conditions

Income from units of UTI and other Mutual Funds [Section 10(35)

Long Term Capital Gain on transfer of securities covered under Share Transaction Tax

Income by way of dividend from Indian company [Section 10(34

THANK YOU

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