Salary or Remuneration to Foreign Employee and Non-Resident Member of Crew Įxempted Incomes ( Tax Free) Section 10 gives list of incomes which are exempt from tax. Leave Travel Concession or Assistance (LTC/LTA) Any income of a Corporation established for Ex-Servicemen Income of Core Settlement Guarantee Fund Income of certain Funds of National Importance, Educational Institutions and Medical Institutions : Any Allowance given for meeting Business Expenditure Exemption in respect of Amount Received from any Provident Fund (PPF/SPF/RPF/URPF) Any sum received under a Life Insurance Policy
'Retirement Compensation' from a Public Sector Company or any other Company is Exempt from Tax Retrenchment Compensation received by Workmen Amount received as Leave Encashment on Retirement Commuted value of Pension Received is Exempt from Tax Gratuity Received by a Non-Government Employee covered by Payment of Gratuity Act, 1972 Section-wise Index of Exempted Incomes Under Section 10 List of Exempted Incomes (Tax-Free) Under Section-10 (4) List of Exempted Incomes (Tax-Free) Under Section-10 Residential Status Of HUF (Hindu Undivided Family). Residential Status of Firm, Association of Persons (AOP), Body of Individuals (BOI) and of Other Persons (except Companies) Residential Status of an 'Individual' (Section-6) Capital Receipts vs Revenue Receipts - under 'Capital Gains' Income is Taxed in the same Year in which it is Earned Gross Total Income(GTI) : Definition under I.Tax Assessment Year : Definition under Income Tax Act. Income Arising From Business Connection In India. Incomes Which Accrue Or Arise In India OR Are Deemed To Accrue Or Arise In India Income Deemed To Be Received In India - under Income Tax Act. (1) Basic Knowledge/Concepts about Income Tax 'Tax Ready Reckoner' for the Assessment Year 2020-21
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