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Exempted Income u/s 10 - Income Specific

Income Tax - Exemptions and Deductions - 02 - 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. INCOME SPECIFIC EXEMPTIONS Section Particulars (For conditions / details see the relevant clauses) Limit of Exemption (specified incomes) 10(1) Agriculture Income Fully Exempt 10(2A) Share of Income from the Firm Fully Exempt 10(8) An individual who is assigned to duties in India in connection with a .....

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eived on retirement from RPF Exempt to the extent provided in Rule 8 of Part A of the Fourth Schedule 10(13) Payment from Superannuation Fund Exempt to the extent to which such payment does exceed the contributions made prior to the commencement of this Act. 10(15)(i) Interest on Securities issued by C.Govt. and deposits as notified Exempt subjection to conditions 10(15)(iib) Interest on Capital Investment Bonds - as notified by the C. Govt. before 1.6.2002 - In case of Individuals and HUF Fully .....

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Bank Fully Exempt 10(15)(iiib) Interest payable to the Nordic Investment Bank Fully Exempt as per MOU 10(15)(iiic) Interest payable to the European Investment Bank Fully Exempt as per Agreement 10(15)(iv)(fa) Interest payable by a Scheduled bank to non-resident on deposits in foreign currency Fully Exempt - if approved by RBI 10(15)(iv)(h) Interest payable by PSU in respect of bonds and debentures as notified Fully Exempt 10(15)(iv)(i) Interest on deposits made by the Employees of Govt. out of .....

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or by a State Pooled Finance Entit Interest on specified bonds as notified Fully Exempt 10(16) Scholarships granted to meet the cost of education; Full Exemption 10(17A) Award Money (cash or kind) as approved or notified in this behalf Fully Exempt 10(18) Pension received by the winners of Vir Chakra etc. Fully Exempt 10(19) read with Rule 2BBA Family Pension received by family members of Armed Force Exempt to the extent of amount received. 10(23C) Income received by any person on behalf of spec .....

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