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Exempted Income u/s 10 - Assessee Specific

Income Tax - Exemptions and Deductions - 01 - EXEMPTED INCOMES (SEC 10) Income tax act provides multiple tax exemptions to a Person. A lot of such exemptions fall under section 10 of income tax act. ASSESSEE SPECIFIC EXEMPTIONS Section Particulars (For conditions / details see the relevant clauses) Limit of Exemption Exemption available to 10(2) Receipt of any sum out the Income of the HUF - Subject to Section 64(2) Entire Amount Individual being member of HUF 10(2A) Share of Income from the Fir .....

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(for altitude above 15,000 feet) Individual - Members of Armed Forces 10(14) Highly active field area allowance is granted to members of armed forces (Subject to certain conditions and locations) Up to 4,200 per month Individual - Members of Armed Forces 10(14) Island Duty Allowance is granted to members of armed forces in Andaman and Nicobar and Lakshadweep group of Island (Subject to certain conditions and locations) Up to 3,250 per month Individual - Members of Armed Forces 10(17) Daily allow .....

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a commodity or service Fully Exempt Local Authority 10(21) Any income of an approved Research Association - approved for the purposes of Section 35(1)(ii) or (iii) Fully Exempt Approved Research Association 10(22B) Income of News Agency Fully Exempt News Agency 10(23A) Income of professional Institutions Fully Exempt As notified 10(23AA) Any income received by any person on behalf of any Regimental Fund or Non-Public Fund established by the armed forces of the Union for the welfare of the past a .....

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y Exempt Institutions established for development of Khadi and Village Industries 10(23BB) Income of an authority established for the development of khadi or village industries in the State. Fully Exempt Board established by state 10(23BBA) Income of any body or authority which provides for the administration of public religious or charitable trusts or endowments Fully Exempt Body or authority 10(23BBB) Income of the European Economic Community - under the notified scheme Fully Exempt European E .....

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Fully Exempt CERC 10(23BBH) Income of the Prasar Bharati Fully Exempt Prasar Bharati 10(23D) Income of Mutual Fund Fully Exempt Mutual Fund 10(23DA) Income of a securitisation trust from the activity of securitisation Fully Exempt Securitisation Trust 10(23EA) Contributions received from recognised stock exchanges and the members thereof Fully Exempt Investor Protection Fund 10(23EB) Income of the Credit Guarantee Fund Trust for Small Industries Fully Exempt Such Trust 10(23EC) Contributions re .....

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nture capital undertaking Fully Exempt Venture capital company or venture capital fund 10(23FBA) Any income other than the income chargeable under the head Profits and gains of business or profession Fully Exempt Investment fund 10(23FC) Interest from SPV and Dividend income Fully Exempt Business trust 10(23FCA) Renting or leasing or letting out any real estate asset Fully Exempt Business trust, being a real estate investment trust 10(24) Income from house property and Income from other sources .....

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idend or interest on securities: Fully Exempt Sikkimese 10(26AAB) Any Income Fully Exempt Agricultural produce market committee or board 10(26B) Any income Fully Exempt Corporation established for promoting the interests of the SC/ST/BC 10(26BB) Any income Fully Exempt Corporation set for for promoting the interests of the members of a minority community. 10(26BBB) Any income Fully Exempt Corporation established for the welfare and economic upliftment of ex-servicemen 10(27) Any income Fully Exe .....

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