List of Tax Free Incomes for Individual Taxpayers – II

• Income of a mutual fund set up by a public sector bank or public financial institution ;
• Income of the notified exchange risk administration fund set up by IDBI, IFCI and ICICI or set up by the power finance corporation LTD;
• Income of investor protection fund;
• Income of credit guarantee fund trust;
• Income by way of dividend and long term capital gains of venture capital funds and venture capital companies;
• Income of venture capital fund/ venture capital company;
• Dividend, interest, etc of an infrastructure capital fund;
• Income by way of interest on securities, property income and income from other sources of a registered trade union or an association of registered trade unions;
• Any income received by a person on behalf of statutory provident fund, recognised provident fund, approved superannuation fund, approved gratuity
fund and approved coal-mines provident fund;
• Income of Employees’ state insurance fund;
• Income of ex-serviceman corporations;
• Subsidy from tea board for replanting or replacement of tea bushes or for rejuvenation or consolidation of areas used for cultivation of tea in India;
• Income of a minor child upto Rs. 1500 in respect of each minor child whose income is includible under section 64 (1A);
• Capital Gains on transfer of US64;
• Dividend on or after April, 2003 from domestic companies;
• Interest on units of a Mutual Fund on or after April, 1, 2003;
• Capital Gains on transfer of listed equity shares;
• Long Term Capital gain in some cases;
• Income from any international sporting event;
• Any income received by an individual as a loan, either in lump sum or in instalment in a transaction of reverse mortgage;
• Any income received by any person for, or on behalf of, the New Pension System Trust;
• Any income of an infrastructure debt fund set up in accordance with notified guidelines.
• Interest received by a non-resident from prescribed securities;
• Interest received by a person who is resident outside India on amounts credited in the Non-Resident (External) Account;
• In case of an Indian citizen or a person of Indian origin who is a non-resident, the interest from notified central government securities (NSC) if such certificates are subscribed in foreign currency or other foreign exchange remitted from outside through official channels;
• Tax paid by employer of non-resident Indian technician;
• Salary received by a foreign citizen in India as an employee of a foreign enterprise provided his total stay in India does not exceed 90 days;
• Salary received by a non-resident foreign citizen as a member of ship’s crew provided his total stay in India does not exceed 90 days;
• Remuneration received by foreign diplomats of all categories;
• Remuneration received by an employee, being a foreign national, of a foreign government deputed in India for training in a government establishment or public sector undertaking;
• Foreign allowances granted by the government of India to its employees posted abroad;
• Remuneration received from a foreign government by an individual who is in India in connection with any sponsored co-operative technical assistance programme with a foreign government and the income of family members of such employee;
• Remuneration / fees received by non-resident consultants and their foreign employers;

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