Income-tax exemptions for eligible persons cover allowances, pensions, capital gains, special funds, and notified institutional incomes. Income-tax Schedule III lists categories of income not to be included in the total income of eligible persons, subject to the conditions specified for each item. The exclusions cover sums from Hindu undivided family members, partners' shares in firm profits, disaster compensation, specified pension and allowance receipts, travel concession, special allowances, gratuity, disability pension, land acquisition awards, and capital gains from specified agricultural or land-pooling transfers. It also exempts income of designated persons, funds, associations, trusts, and notified bodies, where approval, notification, application of income, or other prescribed conditions are satisfied.
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.
Income-tax exemptions for eligible persons cover allowances, pensions, capital gains, special funds, and notified institutional incomes.
Income-tax Schedule III lists categories of income not to be included in the total income of eligible persons, subject to the conditions specified for each item. The exclusions cover sums from Hindu undivided family members, partners' shares in firm profits, disaster compensation, specified pension and allowance receipts, travel concession, special allowances, gratuity, disability pension, land acquisition awards, and capital gains from specified agricultural or land-pooling transfers. It also exempts income of designated persons, funds, associations, trusts, and notified bodies, where approval, notification, application of income, or other prescribed conditions are satisfied.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
