Corporate Learnings

INCOME EXEMPT FROM TAX
Income Exempt from tax under sec10:
1.Agricultural Income [Sec 10(1)]

2.Receipts by a member from Hindu undivided family [Sec 10(2)]

3.Share of profits from Partnership firm [Sec 10 (2A)]

4.Leave Travel concession in India [Sec10 (5)]

5.Gratuity [Sec10 (10)]

6.Commuted Pension and Leave salary [Sec10 ((10A),(10AA)]

7.Retenchment compensation [Sec10 (10B)]

8.Compensation at the time of voluntary retirement [Sec 10(10C)]

9.Payment/Bonus under Life Insurance Policy [Sec10 (10D)]

10.Payment from Provident fund [Sec10 (11), (12)]

11.Payment from approved superannuation fund [Sec 10(13)]

12. House Rent Allowance [Sec 10(13A)]

13.Educational scholarship [Sec10 (16)]

14.Daily allowance of members of parliament [Sec 10(17)

15.Awards [Sec10 (17A)]