Income-tax Act, 2025

INCOME NOT TO BE INCLUDED IN TOTAL INCOME OF ELIGIBLE PERSONS - Schedule III

SCHEDULE III

[See section 11]

INCOME NOT TO BE INCLUDED IN TOTAL INCOME OF ELIGIBLE PERSONS

In computing the total income of a tax year of any eligible person mentioned in column C of the Table below, the income mentioned in column B of the said Table shall not be included, subject to the conditions mentioned in column D of the said Table, and the expressions used in columns B to D therein shall have the meanings respectively assigned to them in the Notes below the said Table:

TABLE

Sl. No.
Income not to be included in total income
Eligible persons
Conditions

A
B
C
D

1.
Any sum received by a member from Hindu undivided family.
An individual who is a member of a Hindu undivided family.
(a) Such sum is not covered under the provisions of section 99(3) and (4); and

(b) such sum has been paid out of

(i)

the income of the family; or

(ii)

the income of the estate belonging to the family, in the case of any impartible estate.

2.
Any sum received by a partner towards his share in the total income of the firm.
A person who is a partner of a firm separately assessed as such.
The sum received as share in profit is as per the profit-sharing ratio provided in the partnership deed.

3.
Any amount received or receivable from the Central Government or a State Government or a local authority by way of compensation on account of any disaster.
Any individual or his legal heir.
No deduction of this amount was allowed earlier under this Act on account of any loss or damage caused by such disaster to such individual or his legal heir.

4.
Any payment from the National Pension System Trust under the pension scheme referred to in section 124.
(i) Any employee; or
(a) Such payment is on partial withdrawal made out of his ac-count or the account of the minor, as the case may be, as per the .... To read the full section download the app from Google Play store