Exempted incomes us 10 of it act1961

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B.Satyanarayana rao.Asso.Prof in Commerce,St. Jooseph's Degree and P.G College King Koti Hyderabad

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  • VILLAGE PANCHAYAT
  • Exempted incomes us 10 of it act1961

    1. 1. EXEMPTED INCOMES U/S 10 B.SATYANARAYANA RAO ASSO.PROF IN COMMERCE ST.JOSEPH’S DEGREE & PG COLLEGE KING KOTI, HYDERABAD
    2. 2. Agricultural income-Fully exempted U/S 10(1). .
    3. 3. Share of income from HUF-FuIly exempted u/s 10(2).
    4. 4. Share of income from firm assessed as firm- Fully exempted u/s 10(2A). •
    5. 5. Travel Concession to an Indian citizen employee-Exempted up to limits laid down u/s 10(5).
    6. 6. Gratuity-exempted u/s 10(10) as per limits.
    7. 7. Commuted value of pension-Fully exempted u/s 10(I0A) as per conditions given.
    8. 8. . Educational Scholarships-Fully exempted u/s 10(16).
    9. 9. Allowances received by MP/MLA/MLC fully Exempted u/s 10(17).
    10. 10. Any award instituted or notified by State or Central Govt.-Fully exempted u/s 10(17 A). • A).
    11. 11. Any pension received by winners of Paramvir Chakra, Mahavir Chakra, or Vir Chakra, and
    12. 12. family pension received by widows or children or nominated heirs of a deceased member of the armed forces (including para military
    13. 13. Income from one palace self occupied by former rulers shall be fully exempted u/s 10(19A).
    14. 14. Income of a local authority- exempted as per conditions given u/s 10(20
    15. 15. Income of State level Khadi and Village Industries Boards- exempted as per conditions given u/s IO(23BB), • .
    16. 16. Income of certain authorities set up to manage religious and charitable institutions exempted as per conditions given u/s 10(23BBA)
    17. 17. Any income of the Insurance Regulatory Authority of India shall be fully exempted u/s IO(23BBE).
    18. 18. Income from International Sporting Event.
    19. 19. Income of Registered Trade Unions-Exempted as per conditions given
    20. 20. Income of Provident Funds or Superannuation Funds-exempted as per conditions given u/s 10(25).
    21. 21. Income of a corporation set up for promoting the interests of Scheduled castes, tribes and backward classes- exempted as per conditions
    22. 22. Income from units of UTI and other Mutual Funds [Section 10(35)
    23. 23. Long Term Capital Gain on transfer of securities covered under Share Transaction Tax
    24. 24. Income by way of Dividend from Indian Company [Section 10(34)
    25. 25. THANK YOU

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