Exempt Income - Definition & List of Exempted Income u/s 10 (2024)

Section 10(1)

Income earned through agricultural means

Section 10(2)

Any amount received by an individual through a coparcener from an HUF

Section 10(2A)

Income received by partners of a firm, as shared between them

Section 10(4)(i)

Any interest that has been paid to a person who is not a resident Indian

Section 10(4)(ii)

Any interest that has been paid to the account of a person who is not a resident Indian

Section 10(4B)

Any interest that has been paid to a person who is not a resident Indian, but of Indian origin

Section 10(5)

Concession on travel given to an employee who is also a citizen of India

Section 10(6)

Any income earned or received by a nonIndian citizen

Section 10(6A), (6B), (6BB), (6C)

Government tax paid on the income of a foreign firm

Section 10(7)

Allowances received by government employees stationed abroad

Section 10(8)

Income earned by foreign employees in India under the Cooperative Technical Assistance Program

Section 10(8A)

Income earned by a consultant

Section 10(8B)

Income earned by a consultant's staff or employees

Section 10(9)

Income earned by any family member of a foreign employee in India under the Cooperative Technical Assistance Program

Section 10(10)

Gratuity

Section 10(10A)

The commuted value of the pension earned by an individual

Section 10(10AA)

Any amount earned via encashment of leave at the time of retirement

Section 10(10B)

Compensation paid to workers due to relocation

Section 10(10BB)

Any remittance obtained as per the Bhopal Gas Leak Disaster Act 1985

Section 10(10BC)

Any compensation obtained in the event of a disaster

Section 10(10C)

Compensation in lieu of retirement from a PBC or any other firm

Section 10(10CC)

Any income received through taxation on perquisites

Section 10(10D)

Section 10(23BBA)

Income earned by regulatory bodies of institutions affiliated with religion and charity

Section 10(23BBB)

Income received by the European Economic Community

Section 10(23BBC)

Income received through SAARC funded regional projects

Section 10(23BBE)

Income received by the IRDA

Section 10(23BBH)

Income received through Prasar Bharti

Section 10(23C)

Income received by any individual through certain specified funds

Section 10(23D)

Income earned via Mutual Funds

Section 10(23DA)j

Income earned via a Securitisation Trust

Section 10(23EA)

Income earned through an IPF

Section 10(23EB)

Income received by the Credit Guarantee Trust for Small Industries

Section 10(23ED)

Income exemption of IPF

Section 10(23DFB)

Income exemption of specified income received by Venture Capital Firms, Funds or Businesses

Section 10(24)

Income earned by authorised trade unions

Section 10(25)

Income earned via provident funds and superannuation funds

Section 10(25A)

Income earned via Employee's State Insurance Fund

Section 10(26), 10(26A)

Income earned by Schedule Tribe Members

Section 10(26AAN)

Income earned by an individual of Sikkimese origin

Section 10(26AAB)

Marketing regulation with regards to agricultural produce

Section 10(26B)

Income earned by corporations established for the upliftment of backward tribes and classes

Section 10(26BB)

Income earned by corporations established for the protection of Minority interests

Section 10(26BBB)

Income earned by corporations established for former servicemen

Section 10(27)

Income earned by cooperative societies established for protection of scheduled castes and tribes interests

Section 10(29A)

Income received by Community Boards

Section 10(30)

Income earned in the form of subsidies via the Tea Board

Section 10(31)

Income earned in the form of subsidies via the concerned Board

Section 10(32)

Income earned by a child in accordance with Section 64 of the Income Tax Act

Section 10(33)

Income earned through Unit Trust of India capital asset transfer

Section 10(34)

Income earned in the form of dividends through an Indian firm

Section 10(34A)

Income earned by a shareholder through the buyback of unlisted companies

Section 10(35)

Income received through the sale or transfer of Unit Trust of India units as well as other mutual funds

Section 10(35A)

Income from a securitisation trust that is exempt

Section 10(36)

Income received on the sale of shares under specific conditions

Section 10(37)

Any capital gains made on the mandatory acquirement of land in relation to urban agriculture

Section 10(38)

Any long term capital gains made from share and security transfers that fall under the purview of Security Transaction Tax

Section 10(39)

Any income received from any international event or function relating to sports

Section 10(40)

Any income acquired in the form of a grant from a company deemed to be a subsidiary of the parent company

Section 10(41)

Any income received on any asset transfer of a company or project that conducts power distribution, generation and transmission

Section 10(42)

Any income earned by any authority that has been established by more than one country

Section 10(43)

Any income in relation to reversal of mortgage

Section 10(44)

Income generated through the NPS Trust

Section 10(45)

Any allowance or perks granted to the chairman or any member of the UPSC

Section 10(46)

Any income that comes under the category of 'specified income' with regards to specific authoritative bodies

Section 10(47)

Any income that is exempt under the category of infrastructure debt fund

Section 10(48)

Any income earned by a foreign firm or company due to crude oil sales within India

Section 10(49)

Any income earned by the NFHC (National Finance Holdings Company)