Tax Exemptions : Page 3

55.  Income received by any regimental fund or non-public fund established by the armed forces for the welfare of the past and present members of the force or their dependents.

56. Income received by an approved fund for the welfare of employees or their dependents, and which applies its income or accumulates it for application, wholly and exclusively, to the objects for which it is established, and invests its funds in the forms or modes specified u/s 11 (5).

57.  Income of a pension fund (namely Jeevan Suraksha) set up by the Life Insurance Corporation of India or a pension fund of any other insurance company.

58.  Income of a public charitable trust, registered society, etc. engaged in development of khadi and village industries without profit motive.

59. Income of Khadi and Village Board established for the development of Khadi and Village Industries.

60. Income of religious institutions etc approved by the Central or State or Provincial Government, for the administration of any public, religious or charitable trust or endowments registered under the Societies Registration Act, 1860, or any other law for the time being in force.

61.  Income of the European Economic Community derived in India by way of interest, dividends or capital gains from investments made out of its funds under specified scheme.

62. Income of the SAARC Fund for Regional Projects.

63.  Income of Secretariat of the Asian Organization of the Supreme Audit Institutions for the A.Ys. 2001 -02 to 2010-11.

64. Income of the Insurance Regulatory and Development Authority.

65.  Income of the North-Eastern Development Finance Corporation Ltd. to the extent of 80% of total income for A.Y. 2006-07, 60% for A.Y. 2007-08,40% for A.Y. 2008-09, 20% for A.Y. 2009-10 and nil from A.Y. 2010-11 and onwards.

66.  Income of the Central Electricity Regulatory Commission.

67.  Income of P.M. Relief Fund or any approved fund.

68.  Income received by the National Foundation for Communal Harmony.

69.  Income or the annual receipts of a University/educational institution, hospital or medical institution wholly or substantially financed by the Government which do not exceed the prescribed amount or which is approved by the prescribed authority.

70. Income of approved fund, charitable/religious institution or trust which applies its income wholly and exclusively in pursuance of its objects, however anonymous donations received by the trust shall be taxable at the rate of 30%.

71. Income of Mutual Fund registered with SEBI, or set up by a public sector bank or a public financial institution, or authorized by the Reserve Bank of India subject to notified conditions. Income distributed by a Mutual Fund to its unit holders shall be subject to additional income-tax.

72.  Income by way of contributions from recognized stock exchanges and their members of notified Investor Protection Fund set up by recognized stock exchanges in India.

73. Income of the Credit Guarantee Fund Trust for Small Industries for A.Y.s 2002-03 to 2006-07.

74.  Income of notified Investor Protection Fund set up by commodity exchanges in India.

75.  Income of an approved Venture Capital Fund or Venture Capital Company by way of dividends or long-term capital gains on equity shares in a venture capital undertaking held for more than three years provided the investment has been made before 31.3.1999 and up to 31.3.2002.

76. Income of Trade Union or association of trade unions from house property and income from other sources.

77. Income of statutory provident fund under Provident Fund Act, 1925, or recognized provident fund or an approved superannuation fund or approved gratuity fund, etc.

78.  Income of the Employees' State Insurance Fund set up under the ESI Act, 1948.

79.  Income of members of scheduled tribes residing in specified areas.

80. Income of a statutory corporation, body, association or institution formed or established for promoting the interests of the members of Scheduled Castes or Scheduled Tribes or backward classes or of any two or all of them.

81. Income of a Corporation established by the Central/State Government for promoting the interests of a notified minority community.

82. Income of an Ex-Service men Corporation established under an Act, or the welfare and economic upliftment of ex-servicemen being the citizens of India.

83. Income of a Cooperative Society formed for promoting the interest of members of either the Scheduled Caste or Scheduled Tribes.

84. Income of Coffee Board, Rubber Board, Tea Board, Tobacco Board, Marine Products Export Development Authority, Agricultural and Processed Food Products Export Development Authority and Spices Board.

85. Subsidy received from Tea Board for replantation or replacement of tea bushes or for rejuvenation or consolidation of areas used for cultivation of tea under any scheme notified by the Central Government.

86.  Subsidy received from the Rubber Board, Coffee Board, Spices Board or any other Board under any scheme of replanting or replacement.

87. Income of minor child liable to be included in income of his parent U/s 64(1 A) up to a maximum of Rs. 1,500 per minor child.

88.  Any Capital Gain arising on transfer of units of Unit Scheme, 1964 on or after 1.4.2002.

89. Dividends distributed on or after 1.4.2003 by a domestic company and subjected to additional income-tax u/s 115-0. This dividend shall not be included in the total income of a SEZ Developer or entrepreneur.

90. Income in respect of units of the specified undertaking or the specified company defined under the UTI.

91.  Any long-term capital gain arising on transfer of eligible equity shares of a company acquired on or after 1.3.2003 but before 1.3.2004 and held for 12 months or more.

92. Any Capital gain arising to an individual/HUF on compulsory acquisition of an agricultural land in urban areas, where the compensation/consideration is received by the assessee on or after 1.4.2004. Provided, the land was being used for agricultural purposes by the HUF/individual or his parent(s), during the period of two years immediately before acquisition.

93. Any long-term capital gains from transfer of equity shares of a company or units of an equity oriented fund on or after 1.10.2004 and subject to Securities Transaction Tax.

94. Notified Income arising to notified person(s), from notified international sporting event held in India.

95. Income by way of grant, etc. received by a subsidiary company, from its holding (Indian) company engaged in the business of generation or transmission or distribution of power, for settlement of dues in connection with reconstruction or revival of an existing business of power generation.

96. Any capital gain arising from transfer of an asset of an undertaking engaged in the business of generation or transmission or distribution of power, effected on or before 31.3.2006, to an Indian company.
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