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of <h1>Entities Exempt from Income Tax: Boards, Funds, and Local Bodies under Seventh Schedule of Direct Taxes Code, 2010</h1> The Seventh Schedule of the Direct Taxes Code, 2010, outlines entities exempt from income tax. These include various boards and authorities established under specific acts, such as the Coffee Board, Rubber Board, Tea Board, and others related to agriculture and export development. It also exempts certain funds like the Prime Minister's National Relief Fund, approved provident and superannuation funds, and the Employees' State Insurance Fund. Additionally, bodies promoting the welfare of Scheduled Castes, Scheduled Tribes, minorities, ex-servicemen, and non-profit organizations with specific purposes are included. Local governance bodies like Panchayats, Municipalities, and Cantonment Boards are also exempt.
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