Exempt income excludes items listed in the schedule from a person's total income for the financial year. The provision establishes that, for a financial year, a person's total income shall not include any income enumerated in the Sixth Schedule, defining ... Summary
Exempt income excludes items listed in the schedule from a person's total income for the financial year.
The provision establishes that, for a financial year, a person's total income shall not include any income enumerated in the Sixth Schedule, defining those items as excluded from the charge to tax under the Direct Taxes Code Bill.
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