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        Case ID :
        Income Tax

        Whether the income on transfer of units is also exempt u/s 10(35)?

        17 May, 2018

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        Manual - Exempted Income u/s 10 - Income Specific

        No, Income on transfer of units is not exempt under this clase.

         

        Income on transfer of units is not exempt under section 10(35); such transfer income remains taxable. Income arising on the transfer of units is not covered by the exemption under 10(35); proceeds from disposal of units are not exempt under that clause and must be treated as taxable transfer income under ordinary tax provisions.
                        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 on transfer of units is not exempt under section 10(35); such transfer income remains taxable.

                              Income arising on the transfer of units is not covered by the exemption under 10(35); proceeds from disposal of units are not exempt under that clause and must be treated as taxable transfer income under ordinary tax provisions.


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