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Incomes which do not form Part of Total Income - Coggle Diagram
Incomes which do not
form Part of Total Income
Exemptions
Exemptions are claimed on the basis of the source of
income.
Incomes exempt u/s 10
Agricultural Income [Section 10(1)]
Refer, Dy. CIT v. Best Roses Biotech (P) Ltd., 49 SOT 277
manufacture of rubber [Rule 7A]
manufacture of coffee [Rule 7B]
manufacturing of tea [Rule 8]
HUF [Section 10(2)]
firm [Section 10(2A)]
non-residents [Section 10(4)]
savings certificates [Section 10(4B)]
Leave travel concession [Section 10(5)]
staff [Section 10(6)(ii)]
non-resident member of crew [Section 10(6)(vi), (viii)]
foreign trainee [Section 10(6)(xi)]
Tax paid on behalf of foreign company or non-resident in respect of other income [Section
10(6B)]
aircraft or aircraft engine [Section 10(6BB)]
Technical fees received by a notified foreign company [Section 10(6C)]
Allowance/perquisites to Government employee outside India [Section 10(7)]
Compensation for Bhopal Gas Leak Disaster [Section 10(10BB)]
Payment at the time of voluntary retirement [Section 10(10C)]
Amount paid on life insurance policy [Section 10(10D)]
Sukanya Samriddhi Account Rules,
2014 [Section 10(11A)]
National Pension System Trust to an employee [Section 10(12A)]
NPS [Section 10(12B)]
Payment from approved superannuation fund in specified circumstances and subject to
certain limits [Section 10(13)]
Allowances for meeting business expenditure [Section 10(14)]
Interest Incomes [Section 10(15)]
Lease rent of an aircraft [Section 10(15A)]
Educational scholarship [Section 10(16)]
Daily allowance to a Member of Parliament [Section 10(17)]
Awards [Section 10(17A)]
Pension to gallantry award winner [Section 10(18)]
Family pension received by the family members of armed forces [Section 10(19)]
Income of a news agency [Section 10(22B)]
MANY MORE
Deductions
Deductions are allowed on the basis of the payments/
investments made
Deductions under Chapter VI-A
Rebate
Rebate is a percentage amount reduced from total
income tax payable.