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 ..... tral Government may, by notification, specify 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 Governm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dent fund set up by the Central Government and notified by it in this behalf. 13. Any payment from an approved superannuation fund made— (a) in lieu of or in commutation of an annuity 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 amoun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d or paid to a company or a non-resident, in respect of which dividend distribution tax has been paid under section 109. 20. Any income received from an equity oriented fund in respect of which tax on distribution of income has been paid under section 110. 21. Any amount of interest received on Gold Deposit Bonds issued under the Gold Deposit Scheme, 1999 notified 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iness controlled in or a profession set up in India, if the individual— (a) has been a non-resident in India in nine out of ten financial years preceding that financial year; or (b) has during the seven financial years preceding that financial year been in India for less than seven hundred and thirty days. 30. Any amount received from the Central Government, a State Government or a local authority by an individual or his legal heir, by way of compensation on account of any disaster, in excess of the amount, 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 on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ate of such amount does not exceed the limit as may be prescribed. 42. Any payment received by the employee, from one or more employers, by way of gratuity— (i) on his retirement; or (ii) on his becoming incapacitated prior to such retirement; or (iii) on termination of his employment; or (iv) any gratuity received by the family on the death of the employee, to the extent the aggregate of such amount does not exceed the limit as may be prescribed. 43. Any amount received by the employee, from one or more employers, in connection with termination of his service voluntary retirement or separation under any scheme framed for this purpose in accordance with such rules as may be prescribed, to the extent the aggregate of such amount does not exceed the limit as may be prescribed. 44. Any amount of compensation received by a workman under the Industrial Disputes Act, 1947 or under any other law for the time being in force or under any award or contract of service, at the time of his retrenchment in accordance with the provisions of clause (b) of section 25F of the said Act or five lakh rupees, whichever is less. 45. Any amount of scho ..... X X X X Extracts X X X X X X X X Extracts X X X X
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