Contents
Preface
to the 19th
Edition
ABC of
Zero Income Tax
Academic
and Professional Pursuits Allowance
Accumulated
Balance of Recognised Provident Fund
Additional
Conveyance Allowance
Agricultural
Income
Agricultural
Land:
Agricultural
& Processed Food Products Export Development Authority
Agricutural
Produce and Market Committees Entitled to Exemption
Allowances
Outside
Amount
Collected under Deposit Scheme
Amount
Collected under Molasses Control Order
Amount
Debited for Defective Plant
Amount
Received by Partner on Reduction of his Share
Capital
Amount
Received for Future Services not to be Taxed
Amount
Received from H.U.F.
Amount
Received on Voluntary Retirement Entitled to
Exemption and Relief
Amount
Received under Superannuation Fund
Amount
Received on Pre-mature Retirement from Superannuation Fund
Amount
Received on Termination of Distributorship
Annual
Value of one Palace of a Ruler
Annuity in
Perpetuity of Compensation
Award
Instituted by Government
Bio-degradable
Waste
Board and
Lodging of Foreign Nationals
Bonus
Share
Broadband
Service Providers
Capital
Gains on Amalgamation of Company
Capital
Gains on Compensation or Compulsory Acquisition of Urban Agricultural Land — Section 10(37)
Capital
Gains on Conversion of a Partnership Firm or an Association of Persons or Body
of Individuals to a Company
Capital
Gains on Conversion of a Proprietorship Concern into a Company
Capital
Gains on Demerger of Companies
Capital
Gains on the
Capital
Gains on the
Capital
Gains on the
Capital
Gains on
Capital
Gains on Securities and Mutual Funds — Long-term
Capital
Gains on Transfer of a Capital Asset by a Parent Company to a Subsidiary Company
and Vice Versa
Capital
Gain Tax Exemption to facilitate de-mutualisation and Corporatisation of Stock
Exchange
Capital
Receipts
Casual
Income
Charitable
Trust or Institution's Income
Chit Fund
Income
Coffee
Board
Cold
Chains
Commercial
Production of Mineral Oil in North-Eastern Region
Commutation
of Pension
Compensation
Amounts
Compensation
for Acquisition of Property
Compensation
for Compulsory Cessation of Business
Compensation
for Delay in Procuring Capital Assets
Compensation
for Early Termination of Lease
Compensation
for Forfeiture or Waiver of Lease
Compensation
for Immobilisation
Compensation
for Job Discrimination
Compensation
for Loss of Business Property
Compensation
for Loss of Earnings
Compensation
for Non-performance of Contract of Tenancy
Compensation
for Partial Loss of Profit-making Apparatus
Compensation
for Premature Termination of a Financing Agreement
Compensation
for Premature Termination of Agency
Compensation
for Relinquishment of Interest in Partnership
Compensation
for Surrendering Leasehold Rights in Property
Compensation
for Suspension of Export Licence
Compensation
for Wrongful Detention of Money or Property
Compensation
from Insurance Company for Partial Damage of Machinery
Compensation
in Terms of Compromise Decree
Compensation
on Account of Any Disaster
Compensation
Paid for Loss of Agency
Compensation
Received by Lessee for Acquisition of Land
Compensation
Received under Voluntary Retirement Scheme
Entitled to Exemption as well as Relief under Section 89(1)
Compensation
to Partner for Abandonment of his Rights
Compensation
to a Workman
Conditional
Grant
Consideration
for Destruction of Empty Bottles
Consideration
for Relinquishment of Interest in Partnership
Consideration
Received for Vacating Premises
Constituency
Allowance of MLAs
Contribution
to National Urban Poverty Eradication Fund
Conveyance
Allowance Received by Employees
Corporation
for Welfare of Ex-Servicemen
Corporation
to Promote Interests of Scheduled Tribes
Cross
Country Natural Gas Distribution Network
Daily
Allowance Received by Employees
Daily
Allowances Received by MPs and MLAs
Daily
Allowance Received by Foreign Technicians
Damages
for Personal Injury
Deduction
for Hospitals
Demurrage
for Delay in Loading Goods
Development
of Cities, Towns and Villages — Income from
Diversion
of Income by Overriding Title, etc.
Dividend
Income
E.O.U.
Educational
Institution's Income
Enterprises
Generating or Generating and Distributing Power
Entrance
Fees and Forfeited Amounts from Members
Evidence
for exempting Leave Travel Concession
Excess
Amounts Collected from Buyers on
Exchange
Risk Premium
Excise
Amount Collected
Exemption
of Capital Gains on Transfer of a Membership Right of Stock Exchange
Ex-gratia
Payment on Abolition of Privy Purse
Expenditure
to Ward Off Competition
Expenses
on Telephone and Mobilephone
Expenditure
in relation to Exempted Income
Export
Profits
Export
Promotion Corpus Amount
Family
Pension of Gallantry Awardees
Family
Pension of Armed Forces
Farm House
Fees for
Technical Services
Feasibility
Report Prepared in
Sector Undertaking
Foreign
Company's Income from Royalties and Technical Service Fee
Foreign
Company's Income with Government Approval
Foreign
Income of a Non-resident Indian
Foreign
Technician
Forfeiture
of Earnest Money and Advance by Vendor
Free Trade
Zone Industrial Undertakings
Gifts
Gifts not
Assessable as Deemed Dividend
Gold
Deposit Bonds
Gratuity
Grant-in-aid
for Cinema Theatre
Gurudakshina
by R.S.S. from Swayam Sevaks
Hand-made
Wooden Articles or Things for Export
Hedging
Transaction Charges
Horse-race
Income
Hospital's
Income
Hospital
in Rural Area
Hotels,
Tour Operators, Travel Agent's Foreign Exchange Earnings
Hotels in
Hilly Areas
Housing
Projects
House Rent
Allowance
HUF
Payment to a Member
Hundred
Percent (100%) Export-Oriented Units
Income
Attributable to Supply of Material under Barter System
Income by
Way of Dividends or Long-term Capital Gains of a
Venture Capital Fund or a Venture Capital Company on
Equity Shares in a Venture Capital Undertaking
Income
from Cutting, Polising and Sizing Granites
Income
from Members of a Club
Income
from New Hotels
Income
from Specified Company
Income
from Transfer of US-64 Units of UTI
Income
from Units from the Administrator
Income of
a Fund for Welfare of Employees or Dependants
Income of
an Association, etc. for Promoting Interests of Members of Scheduled Castes,
etc.
Income of
an Association of Law, Medicine, etc.
Income of
ASOSAI — Secretariat
Income of
Authority for Marketing of Commodities
Income of
an Educational Institution
Income of
Educational Institution providing Guidelines for
getting admission in Professional institution
Income of
Central Electricity Regulatory Commission
Income of
Certain Technicians
Income of
Charitable and Religious Institutions or Trusts
Income of
Cinematograph Film Shooting by Non-residents
Incomes of
Convention Centre and Multiplex Centre
Income of
Cooperative Society for Scheduled Castes
Income of
a Corporation for a Minority Community
Income of
Credit Guarantee Fund Trust for SSI
Income of
Employee in Cooperative Technical Assistance Programmes
Income of
Employees State Insurance Fund
Income of
European Economic Community
Income of
Exchange Risk Administration Fund
Income of
Foreign Company for Tax-free Royalties and Fees for
Technical Services
Income of
Hospital
Income of
an Infrastructure Fund or an Infrastructure Company
Income of
Institutions only for Public Religious Purposes
Income of
Insurance Regulatory Development Authority
Income of
Investor Protection Fund
Income of
Any Other Insurer
Income of
IRA
Income of
Khadi and Village Industries Board
Income of
Khadi and Village Industries Institutions
Income of
Local Authority
Income of
LIC Pension Fund
Income of
Member of Scheduled Tribe
Income of
Minor Child
Income of
Mutts, Temples, and Gurudwara Authorities, etc.
Income of
Mutual Fund
Income of
Nidhi
Income of
Non-citizens and Non-resident as Salary from Shooting of Film
Income of
Non-resident Consultant
Income of
Non-resident, etc. under Technical Assistance Programme
Income of
Non-resident News Agency, etc.
Income of
North-Eastern Development Finance Corporation Ltd.
Incomes of
Offshore Banking Units
Income of
Persons Residing in Ladakh
Income of
Political Party
Income of
Prime Minister's National Relief Fund
Income of
Public Charitable Trust
Income of
Regimental Fund or Non-Public Fund
Income of
SAARC Fund for Regional Projects
Income of
Secretariat of Asian Organisation
Income of
Scheduled Tribe
Income of
Scientific Research Association
Income of
Society Constructing and Maintaining Kalyana Mandapam
Income of
Trade Union
Income of
Undertakings in Special Category States
Income of
University
Income Tax
paid on Royalties or Technical Service Fee
Income
which could have been Earned
Individual's
income upto Rs. 1.5 lakh tax-free
Industrial
Parks
Industrial
Undertakings engaged in Infrastructure Development
Industrial
Undertakings in Backward States and Territories
and Industrially Backward Districts
Industrial
Undertakings in Free Trade Zones
Industrial
Undertakings in North-Eastern Region
Infrastructure
Facilities-provider Companies
Infrastructure
Venture Capital Undertakings
Inheritance
of Wealth or Property
Insurance
Receipts
Internet
Service Providers
Inter-Corporate
Dividends
Interest
Awarded by Arbitrator
Interest
does not Accrue if not Charged
Interest-free
Loans
Interest
Income of an NRI
Interest
on Loan could not be estimated and assessed where
Amount is appropriated towards Capital
Interest
on Local Authority Bonds
Interest
on Notified Bonds Issued by State Pooled Finance Entities
Interest
on NRE Accounts in case of Joint Account Holders
Interest
on NRE Account of Non-resident Indians repatriated from Kuwait
Interest
on NRE Bank Account
Interest
on Relief Bonds
Interest
on Securities and Bonds of NRIs
Interest
on Securities of Welfare Commissioner, Bhopal Gas Victims
Interest
Payable by Government
Interest
Payable by the Industrial Undertakings in some cases
Interest,
Premium on Redemption of Bonds and Certificates, etc.
Interest
Waiver because of Financial Condition
Investment
out of Convertible Foreign Exchange
Investor
Protection Fund
Lakhotia
Puraskar
Leasehold
Right Surrender
Leasing of
Agricultural Land
Leave
Salary by Employee on Retirement/Resignation
Leave
Travel Allowance
Life
Insurance Policy Money
Liquidated
Damages
Local
Authority
Long-term
Capital Gains
Long-term
Capital Gains on Shares — New Section 10(36)
Long-term
Capital Gains on Transfer of Securities — Section 10(38)
Marine
Products Export Development Authority
MAT
Exemption for Infrastructure and Power Companies
Medicare
Claim and its Payment
Medical
Expenses Reimbursement for any Treatment
Medical
Treatment Abroad
Medical
Treatment at Employer's Hospital
Medical
Treatment at a Nursing Home or Hospital
Medical
Treatment of Prescribed Diseases of Ailments at
Approved Hospitals
Medical
Insurance Income
Member's
Club
Mutual
Benefit Concern
Mutual
Fund Units: Divided Income
National
Sports Fund
National
Cultural Fund
Navigation
Channel in the Sea
New
Industrial Undertakings
No Tax on
Deemed Interest Income
Non-real
Income
Non-recurring
Receipts
Non-resident's
Income
Non-resident
Technician's Income
Notional
Interest
NPS Trust
Partner
Receiving Amount on Retirement
Passage
Moneys of a Foreigner
Payment
from Approved Superannuation Fund
Payment
made to Acquire Aircraft
Payment
made to Bhopal Gas Disaster Victims
Payments
for Compensation for Cancellation of Agency Agreement
Payments
on Resignation from Service
Payments
in Commutation of Pension from LIC
Payments
Received from Competitor
Payments
Received from Provident Fund
Payments
received from Sterilisation on a Part of Capital Asset
Payments
Received on Termination of Monopoly Rights
Penalty
Amount not Assessable as Income
Pension of
Armed Forces
Pension of
Gallantry Award Winners
Pensions
Perpetual
Life Annuity or Capital Sum in Exchange of a Capital Asset
Perquisite
Not Provided for by Way of Monetary Payment
Perquisite
Outside India in the Hands of Employee
Personal
Effects' Sale Proceeds
Political
Party's Income
Power
Plant's Income
Power
Transmission and Distribution Lines
Premium on
Redemption of Bonds
Processing,
Preservation and Packaging of Dairy Products
Processing,
Preservation and Packaging of Fruits or Vegetables
Processing,
Preservation and Packaging of Marine Products
Processing,
Preservation and Packaging of Meat or Meat Products
Processing,
Preservation and Packaging of Poultry Products
Profit on
Currency Exchange
Profits
Arising on Settlement of Claim
Property
used for Business or Profession
Provident
Fund: Receipt of Accumulated Balance
Public
Charitable and Religious Trust or Institution
Public
Provident Fund's Interest
Receipt by
Contractor by way of Rent, etc. before Start of Business
Receipt on
Destruction or Sterilisation of Revenue Yielding Asset
Receipts
by Shareholder from Surplus Assets on Liquidation
Receipts
for Travel Outside India
Refinery
for Mineral Oil
Reimbursement
of Expenses of Technician
Remuneration
of Employee of Foreign State
Remuneration
of Employee of a Foreign Enterprise
Remuneration
of Employee of Overseas Philanthropic Organisation
Remuneration
on Employment on a Foreign Ship
Remuneration
Out of Funds from International Organizations
Rent of
Agricultural Land
Rent of
House Property Acquired by Borrowings
Replanting
Subsidy
Retiring
Government Employees: Tax-Free Receipts
Retiring
Public Sector Employees
Reward
under VD Scheme
Royalties
and Fees and Tax Payments
Rubber
Board
Rubber
Replantation Subsidy
Salaami or
Premium
Salary of
the Person Working on Indian Ship
Sale of
Lands & Buildings
Sale of
Trees
Sale
Proceeds of Agricultural Land
Sale
Proceeds of Farm House
Sales Tax
not Claimed and not Charged
Sales Tax
Refund
Scholarship
Granted to meet Cost of Education
Scientific
and Industrial Research & Development
Scientific
Research Association's Income
Self-occupied
House Property
Senior
Citizen's Income
Share of
Profits from Partnership Firm
Share of
Reserve
Special
Allowance
Special
Allowances Received by Employees
Special
Compensation after Cessation of Employment
Special
Economic Zones
Specified
Income of Certain Bodies or Authorities
Spice
Board
States and
the Union
Sterilisation
of Stock-in-trade
Stock
Lending
Subsidy by
Growers of Rubber, Coffee, Cardamom, etc.
Subsidy
for New Industries, etc.
Subsidy
for repayment of Loan not Taxable
Subsidy
received by Hotel
Subsidy
received for Replanting Rubber Trees
Subsidy on
Tea through Tea Board
Sums
received under Life Insurance Policy
Supreme
Court and High Court Judges: Perquisites, etc.
Supporting
Manufacturer-exporter
Surplus in
Special Contingency Account
Surrender
of Goodwill, User of Trade Mark and Brand Name
and Giving Up Right to Manufacture Commodity
Tax-free
Perquisites
Tax
Holiday for Hotel and Convention Centres in Specified Area
Tax
Holiday in North-Eastern States
Tax
Holiday to Enterprises Providing Telecommunication
Services, Industrial Parks, SEZs, etc.
Tax
Holiday to Radio-paging & Domestic Satellite
Service
and Internet Service Providers & Broadband Services
Tax on
Perquisites Paid by Employer
TDS in
U.K.
Tea Board
Technical
Services Fee from a Foreign Company Free of Tax
Telecom
Services
Testimonials
and Personal Gifts
Tobacco
Board
Toll
Amount
Transfer
Fee of Co-operative Society
Transfer
of Industrial Licence
Transfer
of Rights in Agency
Transfer
of Share Reserve
Transmission
Networks
Transport
Allownace
Travelling
Allowance
U.N. Staff
Remuneration
Unit Trust
of India
UTI Unit
Income
Utensils
Sale Proceeds
Value of
Travel Concession enjoyed by Employees
Venture
Capital Company/Fund
Venture
Capital Company or Venture Capital Funds' Income
from Specified Businesses or Industries
Voluntary
Retirement or Separation Amount of an Employee
Waiver of
Loan, etc.
Wakfs
& Statutory Bodies, etc.
Winning
from Horse Races
Woman's
Income
Zero
Income Tax on over Rs. 15,00,000 Annual Income
Zero Tax
in Respect of Certain Undertakings in North Eastern States
Zila
Saksharta Samiti Donations