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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 listed in Schedules II, III, IV, V and VI is left out of total income, subject to the conditions in those Schedules?

Section 11(1) of the Income-tax Act, 2025 excludes from total income any income listed in Schedules II, III, IV, V and VI, provided the conditions stated in those Schedules are fulfilled. Section 11(3) covers Schedule VII persons, Section 12 covers political parties and electoral trusts.

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

Explanation

Section 11(1) provides that income enumerated in Schedules II to VI is not included in total income if the Schedule conditions are met. Section 11(3) deals with persons listed in Schedule VII, not incomes. Section 12 applies to political parties and electoral trusts, and Section 14 disallows expenditure.

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