Section 10(23D) to 10(50) - Incomes not included in total income [Clause (23D) to Clause (50)]

Exempt income categories under Section 10 preserve tax non-inclusion for specified funds and institutional investors subject to conditions.

Section 10(23D)-10(50) lists specific classes of income excluded from total income, granting targeted exemptions to mutual funds, securitisation trusts, investor protection and settlement guarantee funds, venture capital funds and companies, investment funds and unit holders, business trusts (including REITs), and specified sovereign and pension investors investing in Indian infrastructure and qualifying entities. Exemptions are subject to registration/approval, prescribed conditions, minimum holding periods, proportionate calculations where investments are mixed, and provisos that convert previously exempt amounts into taxable income if eligibility conditions are later breached.