TaxTMI 
TaxTMI 
INCOME NOT TO BE INCLUDED IN TOTAL INCOME
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....nsurance policy, including the sum allocated by way of bonus on such policy. (a) The insurance policies, issued during the period mentioned in column B of the table below, except where such sum is received on the death of a person, or under a life insurance policy issued by the International Financial Services Centre insurance intermediary office, including the sum allocated by way of bonus on such policy, shall fulfil the conditions mentioned in Column C thereof: Sl. No. Period of issue of insurance policy Conditions of issuance policy A B C 1 1st April, 2003 to 31st March, 2012. Premium to sum assured ratio is <=20% 2 1st April, 2012 to 31st March, 2013. Premium to sum assured ratio is <=10% 3 ....
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....evious approval of the Central Government, which shall be binding on the income-tax authorities and the assessee and every guideline issued by the Board under this clause shall be laid before each House of Parliament. 3 Any payment from a provident fund to which the Provident Funds Act, 1925 (19 of 1925) applies, or from any other provident fund set up by the Central Government and notified by it in this behalf. (a) The income by way of interest accrued during the tax year shall not be eligible for exclusion from total income where,-- (i) it is attributable to the contribution (including aggregate thereof) made on or after the 1st April, 2021; and (ii) such contribution exceeds-- (A) Rs.5,00,000 in a tax ....
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....ayable at the time of such closure or his opting out of the scheme. 7 Any payment from the Agniveer Corpus Fund to a person enrolled under the Agnipath Scheme or to his nominee. Nil. 8 Any payment from an approved superannuation fund. Such payment is made- (a) on the death of a beneficiary; or (b) to an employee in lieu of or in commutation of an annuity on his retirement at or after a specified age or on his becoming incapacitated prior to such retirement; or (c) by way of refund of contributions on the death of a beneficiary; or (d) by way of refund of contributions to an employee on his leaving the service in connection with which the fund is established otherwise than by retirement a....
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....old Monetisation Scheme, 2015 notified by the Central Government. Nil. 13 Interest on bonds issued by a local authority or by a State Pooled Finance Entity. As specified by the Central Government, by notification. 14 Any income arising from the transfer of a capital asset, being a unit of the Unit Scheme, 1964 referred to in Schedule I to the Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002 (58 of 2002). The transfer of such asset takes place on or after the 1st April, 2002. 15 Any income arising from any specified service provided on or after the date on which the provisions of Chapter VIII of the Finance Act, 2016 (28 of 2016) comes into force and chargeable to equalisation levy under that Chap....