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        F. Acts / Amendment Acts

        Section 4 - Amendment of section 10

        Finance (No. 2) Act, 1996
        Chapter III
        DIRECT TAXES
        INCOME-TAX

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        Tax exemptions expanded: pension commutation, keyman insurance, infrastructure fund income and trade union income clarified. Amendments to section 10 expand categories of exempt income by adding commuted pension from specified pension funds and including receipts under Keyman insurance policies; they create an exemption for pension funds set up by the life insurer subject to Controller of Insurance approval; exempt income of a SAARC regional projects fund; exempt income of infrastructure capital funds and companies from investments in infrastructure enterprises with specified definitional explanations; and clarify exemptions for trade unions and certain transport and construction activities.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Tax exemptions expanded: pension commutation, keyman insurance, infrastructure fund income and trade union income clarified.

                                Amendments to section 10 expand categories of exempt income by adding commuted pension from specified pension funds and including receipts under Keyman insurance policies; they create an exemption for pension funds set up by the life insurer subject to Controller of Insurance approval; exempt income of a SAARC regional projects fund; exempt income of infrastructure capital funds and companies from investments in infrastructure enterprises with specified definitional explanations; and clarify exemptions for trade unions and certain transport and construction activities.


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