Section 11 — Incomes not included in total income
Old Act equivalent: Section 10 of IT Act 1961 Sub-part: Chapter III—Incomes Which Do Not Form Part of Total Income
Architecture: Section 11 is the umbrella provision. The actual exempt incomes and exempt persons are listed in Schedules II through VII. Section 11 itself contains no exemption list — it delegates entirely to the Schedules.
| Schedule | Content | Wiki Link |
|---|---|---|
| Schedule II | Exempt income — all persons | Schedule II |
| Schedule III | Exempt income — eligible persons (trusts, funds, institutions) | Schedule III |
| Schedule IV | Exempt income — non-residents, foreign companies | Schedule IV |
| Schedule V | Exempt income — investment funds, business trusts, unit holders | Schedule V |
| Schedule VI | Exempt income — IFSC persons | Schedule VI |
| Schedule VII | Persons exempt from tax entirely | Schedule VII |
Statutory Text
-
(1) In computing the total income of any person for a tax year under this Act,
any income enumerated in Schedules II, III, IV, V and VI shall not be included, subject to fulfilment of conditions specified therein. (2) Wherever the conditions referred to in the Schedules referred in sub-section (1) are not satisfied in any tax year in respect of any income enumerated in the said Schedules, such income shall be charged to tax under this Act on the total income for that tax year. (3) The persons enumerated in Schedule VII shall, subject to fulfilment of the conditions specified therein, not be chargeable to tax under this Act on the total income for a tax year. (4) Wherever the conditions referred to in Schedule VII are not satisfied in respect of the persons enumerated in the said Schedule in any tax year, the income of such person shall be charged to tax under the provisions of this Act for that tax year. (5) The Central Government may make rules or issue notifications for the purposes of this section as specified in Schedules II, III, IV, V, VI and VII.
Provisos
None.
Explanations
None.
Tables
None — see Schedules II through VII.
Key Structure
- Applies to: All persons — any person computing total income under the Act.
- Conditions: Income enumerated in Schedules II—VI is excluded from total income subject to conditions in those Schedules. Persons in Schedule VII are entirely exempt.
- Time limits: Tax year; conditions must be fulfilled in the relevant tax year.
- Monetary limits: Various — see individual Schedule entries.
- Exceptions: Where conditions are not satisfied, income is charged to tax for that tax year (sub-sections 2 and 4).
Cross-References
None identified.
Amendment Notes
None noted from the extracted pages.