INTRODUCTION (EXEMPTION)

INTRODUCTION

(1) Exemption under section 10 vis-a-vis Deduction under Chapter VI-A
The various items of income referred to in the different clauses of section 10 are excluded
from the total income of an assessee. These incomes are known as exempted incomes.
Consequently, such income shall not enter into the computation of taxable income.
Moreover, there are certain other incomes which are included in total income but are wholly or
partly allowed as deductions in computation of total income .

(2) Exemptions which are discussed under the relevant chapters:

In this chapter, we are going to study the provisions of section 10 which enumerate the
various categories of income that are exempt from tax.