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of <h1>Income-Tax Act Update: Clause 26AAA Exempts Sikkimese Income; Reverse Mortgages Excluded Under Clause 43; Coir Board Added.</h1> Section 10 of the Income-tax Act is amended to include clause 26AAA, effective from April 1, 1990, exempting income for Sikkimese individuals from sources within Sikkim or from dividends and interest on securities. This exemption does not apply to Sikkimese women marrying non-Sikkimese after April 1, 2008. The definition of 'Sikkimese' includes individuals listed in the Register of Sikkim Subjects or those whose male relatives are registered. Clause 29A is amended to include the Coir Board, effective April 1, 2009. Clause 43 is added to exempt amounts received from reverse mortgage transactions.
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