TaxTMI 
TaxTMI 
PERSONS EXEMPT FROM TAX
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.... Such Fund is for the welfare of the past and present members of the armed forces or their dependants. 2. Any fund established for such purposes as may be notified by the Board for the welfare of employees or their dependants and such employees are members of such fund. (a) Such fund- (i) applies its income or accumulates it for application, wholly and exclusively to the objects for which it is established; and (ii) invests its funds and contributions and other sums received by it in the forms or modes specified in section 350; (b) such fund is approved by the Principal Commissioner or Commissioner in such manner as prescribed; and such approval shall at any one time have effect for such tax year or years not....
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....ble to any trust, endowment or society referred to therein. 6. SAARC Fund for Regional Projects set up by Colombo Declaration issued on the 21st December, 1991 by the Heads of State or Government of the Member Countries of South Asian Association for Regional Cooperation established on the 8th December, 1985 by the Charter of the South Asian Association for Regional Cooperation. 7. Insurance Regulatory and Development Authority established under section 3(1) of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999). 8. Central Electricity Regulatory Commission constituted under section 76(1) of the Electricity Act, 2003 (36 of 2003). 9. Prasar Bharati (Broadca....
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....eception and treatment of persons suffering from illness or mental defectiveness, or for the reception and treatment of persons during convalescence or of persons requiring medical attention or rehabilitation; (b) it exists solely for philanthropic purposes and not for profit; and (c) if the Government grant to such hospital or other institution exceeds such percentage of the total receipts including any donations, as prescribed, of such hospital or other institution, it shall be considered as being substantially financed by the Government during the relevant tax year. 19. (a) Any University or other educational institution; (b) any hospital or other institution. (a) Such University or other educational institution exists ....
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....19 of 1952). 27. Employees' State Insurance Fund set up under the provisions of the Employees' State Insurance Act, 1948 (34 of 1948). 28. An agricultural produce market committee or board constituted under any law. Such committee or board is constituted for the purpose of regulating the marketing of agricultural produce. 29. A corporation established by a Central Actor State Act or Provincial Act or of any other body, institution or association (being a body, institution or association wholly financed by the Government). Such corporation or other body or institution or association has been established or formed for promoting the interests of the members of the Scheduled Castes or the Sc....
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....oducts Export Development Act, 1985 (2 of 1986). 39. Spices Board constituted under section 3(1) of the Spices Board Act, 1986 (10 of 1986). 40. Coir Board established under section 4 of the Coir Industry Act, 1953 (45 of 1953). 41. New Pension System Trust established on the 27th February, 2008 under the provisions of the Indian Trusts Act, 1882 (2 of 1882). 42. Any body or authority or Board or Trust or Commission, not being a company, which has been established or constituted by or under a Central Actor State Act with one or more of the following purposes,- (a) dealing with and satisfying the need for housing accommodation; (b) planning, develop....
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....nd such institution is notified by the Central Government. 48. A developmental financing institution, licensed by the Reserve Bank of India under an Act of Parliament referred to against serial number 47. (a) Such institution is notified by the Central Government; (b) exclusion of such income from the total income is for five consecutive tax years beginning from the tax year in which the developmental financing institution is set up; and (c) the Central Government may, by notification extend the period of exclusion for a further period, not exceeding five more consecutive tax years, subject to fulfilment of such conditions as specified in the said notification. Note 1: For the purposes of Sl. No 3,-- "Controller o....