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CS Executive · Tax Laws and Practice · Incomes which do not form part of Total Income

Under the Income-tax Act, 2025, which provision states that any income enumerated in Schedules II, III, IV, V and VI shall not be included in computing a person's total income, subject to the conditions specified therein?

Section 11 of the Income-tax Act, 2025 provides that income listed in Schedules II, III, IV, V and VI is excluded from a person's total income, provided the conditions specified in those Schedules are met. Section 12 only covers political parties and electoral trusts.

  1. ASection 11Correct
  2. BSection 12
  3. CSection 13
  4. DSection 14

Explanation

Section 11(1) provides that income enumerated in Schedules II to VI is not included in total income, subject to the conditions in those Schedules. Section 12 is confined to political parties and electoral trusts (Schedule VIII). Section 13 deals with heads of income and section 14 with expenditure relating to exempt income.

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