• Agricultural income;
• Payment received from family income by a member of a Hindu Undivided Family;
• Share of profit from a firm;
• Leave travel concession provided by an employer to his Indian Citizen employee;
• Value of concessional passage money received by a foreign national employee from his employer
• Death-cum-retirement gratuity subject to the limits specified;
• Commuted value of pension subject to the limits specified and also any payment received by way of connotation of pension by an individual out of annuity plan of LIC from a fund set up by that corporation;
• Leave salary;
• Retrenchment compensation;
• Compensation received by victims of Bhopal gas leak disaster;
• Compensation from central government or a state government or a local authority received by an individual or his legal heir on account of any disaster;
• Compensation received from a public sector company at the time of voluntary retirement;
• Tax on perquisite paid by employer;
• Any sum (including bonus) on life insurance policy, not being a Keyman insurance policy;
• Any amount from statutory provident fund or public provident fund;
• Accumulated balance due and becoming payable to an employee from a recognised provident fund to the extent it is provided;
• Amount from an approved superannuation fund to legal heir of the employee;
• HRA subject to certain limits;
• Special allowances granted to an employee;
• Income received by a public financial institution as exchange risk premium in certain cases;
• Interest from certain exempted securities;
• Payment made by an Indian company, engaged in the business of operation of an aircraft, to acquire an aircraft on lease from a foreign government or foreign enterprise;
• Scholarship granted to meet the cost of education;
• Daily allowance of a member of parliament or state legislature (entire amount is exempt), and any other allowance subject to certain conditions;
• Rewards given by the central or state government for literary, scientific or artistic work or attainment or for service for alleviating the distress of the poor, the weak and the ailing, or for proficiency in sports and games or gallantry awards approved by the government;
• Pension and family pension of gallantry award winners;
• Ex-gratia payment made by the central government consequent on the abolition of privy purse;
• Family and family pension of gallantry award winners;
• Ex-gratia payments made by the central government consequent on the abolition of privy purse;
• Family pension received by family members of armed forces;
• Notional property income of income of any one place occupied by a former ruler;
• Income of local authorities;
• Any income of housing boards constituted in India for Planning, development or improvement of cities, towns or villages;
• Any income of an approved research association
• Any income of the pension fund set up by LIC or any other insurer approved by the controller if insurance or insurance regulatory and development authority;
• Income received by any person on behalf of specified national funds, approved public charitable intuition and hospital;

We have segregated the current topic into two parts, for better understanding readability. Please refer to other post for more on tax free income for individual taxpayers.