Tax exemption expansion: new clauses exempt notified UPSC allowances, public authority specified income, and certain infrastructure fund income.

Amendments to section 10 amend tax-exempt categories by omitting a previous Explanation and inserting new clauses that: exempt allowances or perquisites to Chairmen and members of the Union Public Service Commission when notified by the Central Government; exempt specified income of bodies or authorities established by statute and not engaged in commercial activity where such income is notified by the Central Government; and exempt income of infrastructure debt funds notified by the Central Government under prescribed guidelines, with the Government empowered to specify the nature and extent of such specified income by Gazette notification.

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